OMO Result: SBP injects Rs13.8tr

November 06, 2026 (MLN): The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs13.76 trillion into the market of which Rs13.36tr were injected through reverse repo OMO.

* The SBP accepted Rs6,240.65bn out of total bids worth Rs6,557.20bn at a cut-off yield of 12.01% on a pro-rata basis.

Meanwhile, the remaining Rs402.5bn was injected through Shariah-compliant Modarabah-based OMO.

* The SBP accepted Rs31.5bn out of total bids worth Rs70bn at a cut-off yield of 12.04% on a pro-rata basis.

Explanatory Note

Open Market Operation is a tool used by SBP to inject or mop-up funds, based on the liquidity requirements, from the banking system via the purchase or sale of eligible securities.

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Operationally, in case of OMO (Injections), SBP lends funds to banks/Primary Dealers (PDs) against eligible collateral to address liquidity shortage in the system.

For OMO (Injections), marketable government securities, i.e. Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) are eligible securities.

In OMO (Mop-up), SBP sells MTBs to banks against funds to remove surplus liquidity from the system.

Eligible collateral for OMO (Mop-up) includes selling MTBs (on repo or outright basis) to banks for removing excess liquidity from the system.

In case of Bai-Muajjal, a Shariah compliant tool for managing liquidity in the Islamic banking system, GOP Ijara Sukuk are eligible securities.

Banks and PDs are eligible counterparties to OMO transactions. For Bai Muajjal transactions, Islamic banks and specialized Islamic windows of conventional banks are eligible counterparties.

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