Governor SBP Says Big Banks Exploiting Clients

Sunday, April 19, 2009 at 10:38 am

Governor SBP Says Big Banks Exploiting Clients KARACHI: Governor State Bank of Pakistan (SBP) Saleem Raza has said that the banking system in Pakistan has failed to accomplish its goals while the big banks are exploiting their clients.

Speaking at a seminar here, Governor SBP informed the attendees that the banking system, currently operational in Pakistan, was hardly different from that of 1970s time and was failed to become advanced.

He regretted The Corporate Finance, Date and Bond market systems were not influentially operating in country.

To a questing, Saleem Raza replied the big banks are gaining profits at high spread and warned the banking sector in Pakistan could go abolish if middle-level banks were closed.

Governor SBP ruled out the direct impact of global economic meltdown on Pakistan economy but hinted at possible loss due to decline in export.