The Pakistan Banking System: How it Works

The Pakistani banking system is relatively new, having only been established in 1947. However, in the years since its inception, the Pakistani banking system has grown exponentially. There are currently 29 commercial banks operating in Pakistan, with a total of 5,964 branches spread throughout the country.

How the Pakistani Banking System Works

The Pakistani banking system works similarly to other systems around the world. Commercial banks in Pakistan offer a variety of services to their customers, including savings accounts, checking accounts, and loans. These banks are regulated by the State Bank of Pakistan, which is the central bank of the country.

The State Bank of Pakistan is responsible for ensuring that all commercial banks in Pakistan operate within the bounds of the law and providestability within the banking sector. The State Bank of Pakistan also issues currency and sets monetary policy for the country. In recent years, the State Bank of Pakistan has taken steps to modernize and digitize the Pakistani banking system.

Conclusion:
The Pakistani banking system is relatively new but has grown exponentially in recent years. There are currently 29 commercial banks operating in Pakistan, with a total of 5,964 branches spread throughout the country. The Pakistani banking system works similarly to other systems around the world and is regulated by the State Bank of Pakistan.