OMO Result: SBP injects Rs14.53tr into Market

MG News | May 22, 2026 at 03:44 PM GMT+05:00

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May 22, 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 Rs14.53trillion into the market, of which Rs13.94tr were injected through reverse repo OMO.

Summary of OMO Result (Conventional)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	714,300	714,300	11.57 – 11.53	11.53	11	11
14D		13,283,400	13,230,00	11.57 – 11.51	11.51*	29	29
Total			13,944,300

*/- SBP accepted Rs5.93tr against bids worth Rs5.98tr in the latest OMO at a cut-off rate of 11.51% on a pro-rata basis.

Meanwhile, the remaining Rs587.8bn was injected through Shariah-compliant Modarabah-based OMO.

Summary of OMO Result (Shariah)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	249,300	249,300	11.62 – 11.60	11.60	07	07
14D		338,500	338,500	11.60 – 11.60	11.60	05	05
Total		587,800	587,800

Note: Contracts must be uploaded on DAP by 1600 hrs today.

Explanatory Note

Open Market Operation is a tool used by SBP to inject or mop up funds from the banking system, based on liquidity requirements, 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 in exchange for 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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