Appointment of Primary Dealers/Special Purpose Primary Dealers for Fiscal Year 2025-26

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DMMD Circular No. 06

Appointment of Primary Dealers/Special Purpose Primary Dealers for Fiscal Year 2025-26

July 09, 2025

All Banks/DFIs/Investment Banks and Listed Brokerage Houses/ Securities’ Depositories/ Clearing Institutions

Dear Sirs/Madams,

Appointment of Primary Dealers/Special Purpose Primary Dealers for Fiscal Year 2025-26

This refers to the rules governing Primary Dealer (PD) system issued vide DMMD Circular No. 07 dated April 12, 2021 . Applications were invited for selection of PDs/PPDs/SPDs for the Fiscal Year (FY) 2025-26 vide DMMD Circular Letter No. 05 dated May 07, 2025 from all eligible institutions under said rules.

Upon evaluation of all applicants under the criteria laid down in the aforesaid rules, please be advised that the following institutions have been selected for roles as specified below:

Sr.#

Name

Primary Dealer

UNITED BANK LIMITED

BANK ALFALAH LIMITED

NATIONAL BANK OF PAKISTAN

HABIB BANK LIMITED

HABIB METROPOLITAN BANK LIMITED

MCB BANK LIMITED

THE BANK OF PUNJAB

PAK OMAN INVESTMENT COMPANY LIMITED

JS BANK LIMITED

CITI BANK N.A., PAKISTAN BRANCH

Special Purpose Primary Dealer

CENTRAL DEPOSITORY COMPANY LIMITED

National Clearing Company of Pakistan

Top three performing PDs during FY 2024-25 are as under:

UNITED BANK LIMITED

BANK ALFALAH LIMITED

NATIONAL BANK OF PAKISTAN

Performance ranking of all other PDs/SPDs during FY 2024-25 will be communicated individually through separate letters.

Yours sincerely,

Iftikhar Ahmad Tari Additional Director

Home — Circulars — DMMD Circular No. 06

Appointment of Primary Dealers/Special Purpose Primary Dealers for Fiscal Year 2025-26

July 09, 2025