What responsibilities does the State Bank of Pakistan have?

The State Bank of Pakistan, established in 1948, serves as the central regulatory authority for the nation's banking sector. Its primary responsibilities include:

• Monetary Oversight: It administers official monetary and credit policies, including the management of exchange controls.1
• Currency Issuance: The bank holds the exclusive right to issue the Pakistani rupee.1
• Government Banking: It acts as the official banker to both the central and provincial governments.1
• Asset Custody: It maintains custody of the country’s gold and foreign-exchange reserves.1
• Regulatory Control: It exercises overall control over the banking sector and enforces strict requirements for paid-up capital and reserves for commercial banks, known as scheduled banks.1