OMO Result: SBP injects Rs13tr

MG News | October 23, 2026 at 02:39 PM GMT+05:00

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October 23, 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 Rs13.06 trillion into the market of which Rs12.60tr were injected through reverse repo OMO.

Tenor	Type	Offered (Rs mn)	Accepted (Rs mn)	Rate High-Low (%)	Accepted (%)	Quotes Offered	Quotes Accepted
7D	Reverse Repo (Injection)	276,000	276,000	11.56 - 11.55	11.55	5	5
14D	Reverse Repo (Injection)	12,804,650	12,325,000	11.58 - 11.52	11.53*	33	32
Total			12,601,000

*SBP accepted Rs3,706.85bn out of Rs4,178.5bn offered at 11.53% on a pro-rata basis.

Meanwhile, the remaining Rs460.4bn was injected through Shariah-compliant Modarabah-based OMO.

Tenor	Type	Offered (Rs mn)	Accepted (Rs mn)	Rate High-Low (%)	Accepted (%)	Quotes Offered	Quotes Accepted
7D	Modarabah (Injection)	32,000	32,000	11.56 - 11.56	11.56	3	3
14D	Modarabah (Injection)	428,400	428,400	11.60 - 11.55	11.55	8	8
Total			460,400

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.

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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