Karachi: To stabilize the financial market, the State Bank of Pakistan provided Rs 266 billion to commercial and Islamic banks through open market operations.
According to the data, under the 7-day operation, conventional banks received Rs 55.9 billion at an interest rate of 11.06 percent, while Islamic banks were issued Rs 98.3 billion at an interest rate of 11.14 percent.
Similarly, capital was also provided in 14-day funding, under which Rs 57.4 billion was given to conventional banks at an interest rate of 11.01 percent and Rs 55 billion to Islamic banks at an interest rate of 11.13 percent.
Experts say that this strategy of the State Bank will not only support the banking sector but also ensure the availability of funds in the economy.
