“Liquidity Management Via Interest Rate Corridor in Pakistan- and Experience of Other Countries’ Emerging Markets”
STATE BANK OF PAKISTAN
SUMMER INTERNSHIP PROJECT REPORT 2011
“Liquidity Management via Interest Rate Corridor in Pakistan- and Experience of Other Countries’ Emerging Markets”
Submitted to: Sir Mubarak
By: Tooba Sarfaraz
Rafia Parvez
Sumbul Masood
Introduction to State Bank of Pakistan: State Bank of Pakistan, the central bank of the country was established in July 1948 I.e., within one year after Pakistan gained independence. Being the central bank, it regulates the monetary policy and the credit system of the country to foster its growth in the best national interest with a view to secure monetary stability and to fully utilize the productive resources of the country. The bank’s operations also include preserving the value as well as maintaining stability in the Banking system.
Vision:
“To transform the SBP into a modern and dynamic central bank, highly professional and efficient, fully equipped to play a meaningful role in sustainable basis in the economic and social development of Pakistan.”
Mission:
“To promote monetary and financial stability and foster a sound and dynamic financial system, so as to achieve, sustained and equitable economic growth and prosperity.”
Introduction to Domestic markets and monetary management department (DMMD):
Domestic Markets and monetary management department was created in Sept 2006 as a result of comprehensive restructuring within State Bank of Pakistan with the objective of transforming the central bank into a dynamic institution more responsive to the growing sophistication in the financial markets. DMMD is an offshoot of the previous Exchange and Debt Management Department (EDMD), which was established in Feb 2000.
Vision:
“To illustrate a proactive, professional and planned approach for effective management of exchange and debt markets so as to contribute towards accomplishment of exchange and monetary policy objectives.”
Mission:
DMMD strives to set performance benchmark within SBP and
SUMMER INTERNSHIP PROJECT REPORT 2011
“Liquidity Management via Interest Rate Corridor in Pakistan- and Experience of Other Countries’ Emerging Markets”
Submitted to: Sir Mubarak
By: Tooba Sarfaraz
Rafia Parvez
Sumbul Masood
Introduction to State Bank of Pakistan: State Bank of Pakistan, the central bank of the country was established in July 1948 I.e., within one year after Pakistan gained independence. Being the central bank, it regulates the monetary policy and the credit system of the country to foster its growth in the best national interest with a view to secure monetary stability and to fully utilize the productive resources of the country. The bank’s operations also include preserving the value as well as maintaining stability in the Banking system.
Vision:
“To transform the SBP into a modern and dynamic central bank, highly professional and efficient, fully equipped to play a meaningful role in sustainable basis in the economic and social development of Pakistan.”
Mission:
“To promote monetary and financial stability and foster a sound and dynamic financial system, so as to achieve, sustained and equitable economic growth and prosperity.”
Introduction to Domestic markets and monetary management department (DMMD):
Domestic Markets and monetary management department was created in Sept 2006 as a result of comprehensive restructuring within State Bank of Pakistan with the objective of transforming the central bank into a dynamic institution more responsive to the growing sophistication in the financial markets. DMMD is an offshoot of the previous Exchange and Debt Management Department (EDMD), which was established in Feb 2000.
Vision:
“To illustrate a proactive, professional and planned approach for effective management of exchange and debt markets so as to contribute towards accomplishment of exchange and monetary policy objectives.”
Mission:
DMMD strives to set performance benchmark within SBP and