Regulatory Alerts2026-05-07 | DMMD Circular Letter No. 06Added · Updated
Guidelines for the Submission of Business Plan by Institutions at the time of Application for Primary Dealer (PD), Preliminary Primary Dealer (PPD) and Special purpose Primary Dealer (SPD) Status
Institutions applying for Primary Dealer (PD), Preliminary Primary Dealer (PPD), or Special purpose Primary Dealer (SPD) status must submit a Business Plan approved by their Assets & Liabilities Committee or Board of Directors. The plan must include details on capital adequacy, organizational structure, IT systems, and contact information, as well as past performance metrics regarding government debt market contributions. Applicants are required to provide a strategy for diversifying the investor base, including specific targets for non-bank and retail investors measured by IPS accounts and trading volumes in PKR millions. The State Bank of Pakistan may conduct meetings to discuss the plan contents and negotiate targets with the institutions.
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