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The State Bank of Pakistan (SBP) is the central bank of Pakistan, responsible for regulating the country's monetary and financial system. It was established in 1948 and is headquartered in Karachi. The SBP's primary goal is to promote price stability and foster economic growth. It also acts as the government's banker and fiscal agent, manages the country's foreign exchange reserves, and supervises and regulates the banking sector. Key functions and responsibilities of the State Bank of Pakistan include: Monetary Policy: The SBP formulates and implements monetary policy to control inflation, stabilize the currency, and support overall economic stability. It uses tools such as open market operations, reserve requirements, and the discount rate to influence the money supply and interest rates. Banking Regulation: The SBP regulates and supervises commercial banks, development finance institutions, microfinance banks, and other financial institutions operating in Pakistan. It sets prudential regulations, conducts inspections, and ensures compliance with banking laws. Currency Issuance: As the issuer of the Pakistani rupee, the SBP is responsible for the production, distribution, and management of currency notes and coins in the country. Foreign Exchange Management: The SBP manages Pakistan's foreign exchange reserves and formulates policies to support a stable and orderly foreign exchange market. It also oversees the implementation of exchange control regulations. Financial Stability: The SBP monitors and assesses the overall stability of the financial system, taking measures to address systemic risks and safeguard the integrity of the banking and financial sector. Development Finance: In addition to its regulatory role, the SBP promotes financial inclusion and supports initiatives to expand access to finance, particularly for underserved and marginalized segments of the population. Research and Analysis: The SBP conducts economic research, collects and publishes financial and economic data, and provides analysis and reports on various aspects of the economy and the financial sector. International Cooperation: The SBP represents Pakistan in international financial and monetary forums, collaborating with other central banks and financial institutions to promote global financial stability and cooperation. The State Bank of Pakistan plays a crucial role in the country's economic and financial landscape, working to maintain monetary stability, ensure the soundness of the banking system, and support sustainable economic growth. Its policies and decisions have a significant impact on the overall financial well-being of Pakistan."

• Central bank of Pakistan, Regulates monetary and financial system, Formulates and implements monetary policy, Banking regulation and supervision, Currency issuance and management, Foreign exchange reserves management, Financial stability monitoring, Development finance and financial inclusion, Economic research and analysis, International financial cooperation