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Today there are more than 9137 branches of commercial banks along with an established network of supplementary financial institution. All this development in the banking sector is the result of untiring efforts of 4 decades.

VARIOUS PHASES OF BANKING SECTOR IN PAKISTAN

Broadly speaking we can divide the development of commercial banking into four phases.

PHASE-1 1947-74 Establishment of commercial banking system

PHASE-2 1974-1979 Nationalization of banks

PHASE-3 1979-91 Islam station process

PHASE-4 1991-2005 Deregulation process

FIRST PHASE (1947-74)

SETUP OF COMMERCIAL BANKING SYSTEM

This was the first phase of the development of Pakistan Commercial Banking system, which consists of the circumstances under which the development of the banking was started in the country.

INITIAL POSITION OF BANKING IN PAKISTAN

There were 19 known Indians foreign Banks in Pakistan at the time of Independence, which the status of small branch networks, whose policies and operations their head offices abroad controlled. These banks were solely engaged in exports of crops from Pakistan. There were only two Banks in Pakistan at the time of partition, Habib Bank, which had transferred its Head office from Bombay to Karachi after the announcement of the partition, and Australian Bank, which has been working in Pakistani territories prior to June 1947. The Government of Pakistan tried hard to eliminate the Banking crises.

The Imperial Bank of India closed down most of its offices in Pakistan, which had been working, as the agent of Reserve Bank of India was not willing to purchase even token amounts of the Pakistan.

Securities on the plea that these securities were not marketable. The Reserve Bank of India was hardly of any help. It refused to help the Government of Pakistan with advance arguments ad-hoc securities t enable them to make essential disbursements such as salaries and other obligations to add to the difficulties.

The Indian Government withheld Pakistan shares of 750 million in cash balance held by at the time of independence. The for going developments clearly brought home the urgency of assuming the control and currency in Pakistan and brought to the fore the need to setup a central banking institution to take the place of reserve bank of India. Therefore, it was agreed between the government of India and Pakistan to authority of Pakistan from 30th September 1947 to 30th June 1948.

In order to make necessary agreement of establishment of the central bank of Pakistan a committee was appointed to recommend the necessary steps. Consequently the Governor of Pakistan and father of the nation Quaid-e-Azam Muhammad Ali Jinnah inaugurated the state Bank of Pakistan of 1st July 1948. After the SBP order was promulgated on 12th May 1948.

When it assumed full control of banking and currency in Pakistan the first important task before the SBP was to issue of currency notes and withdrawal of reserve bank o本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。