All Head of Banks/DFIs/Investment Banks

And Listed Brokerage Houses

Dear Sir/Madam,

APPOINTMENT OF PRIMARY DEALERS FOR FINANCIAL YEAR 2010-11

Please refer to Primary Dealer governing rules issued vide EDMD Circular No.11 dated August 11, 2005 and subsequent amendments circulated vide FSCD Circular No. 7 dated June 06, 2009. Applications were invited for selection of Primary Dealers for the Financial Year 2010-11 vide FSCD Circular No.6 dated May 17, 2010 from all Banks, Investment Banks, Development Financial Institutions and Brokerage Houses.

Upon evaluation of each applicant’s performance under the criteria laid down in the aforementioned rules, it is hereby advised that the following institutions have been selected to act as Primary Dealers for the financial year 2010-11.

As communicated to all the PDs during quarterly review meetings that to promote transparency in the system, their performance would be ranked on the basis of criteria set-forth in aforesaid circulars, both in terms of their activities in primary & secondary government securities markets. Following is the list of top three performers during the FY 2009-10;

1. National Bank of Pakistan
2. Standard Chartered Bank (Pakistan ) Limited
3. United Bank Limited.