OMO Result: SBP injects around Rs13tr into market

MG News | February 27, 2026 at 12:41 PM GMT+05:00

0:00

February 27, 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 Rs12.95trillion into the market, of which Rs12.45tr 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)	295,000	295,000	10.56 – 10.52	10.52	06	06
14D		12,294,800	12,150,000	10.58 – 10.51	10.51*	26	26
Total		12,589,800	12,445,000

*Total amount offered at 10.51% was Rs5,905,000 mio out of which SBP accepted 5,760,200 mio on prorata basis.

Meanwhile, the remaining Rs505bn 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)	374,000	131,000	10.56 – 10.55	10.55	06	06
14D		131,000	131,000	10.56 – 10.53	10.53	03	03
Total		505,000	505,000

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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