| GEO Business|
| Country’s banking sector got strong: SBP Governor|
| Updated at: 1333 PST, Friday, March 20, 2009|
ISLAMABAD: A joint task force constituting of State Bank of Pakistan (SBP) and Securities Exchange Commission of Pakistan (SECP) has been set up for monitoring the financial system of the country, while the SBP Governor said that the banking sector in the country has strengthened.
SECP chief told that the Competition Commission of Pakistan (CCoP)’s penalties imposed on the bourses are being challenged in the court.
SBP Governor, Saleem Raza and acting chairman SECP, Salman Sheikh inked here a concurrence on setting up the joint task force for monitoring the financial system.
Later talking to the media, SBP Governor said that the banking sector of the country was strong and its existing financial resources were over Rs400 billion more than required limit. When quizzed on country’s loans, he told that concerned government offices were being tuned up with the resources obtained from foreign and local markets.
SECP acting chief, Salman Sheikh told newsmen that the penalties imposed by the CCoP were being challenged in the court.