OMO Result: SBP injects around Rs2tr into market

MG News | March 06, 2026 at 01:14 PM GMT+05:00

0:00

March 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 Rs1.9trillion into the market, of which Rs1.52tr 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)	163,500	163,500	10.56 – 10.54	10.54	03	03
21D		1,364,000	1,364,000	10.56 – 10.52	10.52	08	08
Total		1,527,500	1,527,500

Meanwhile, the remaining Rs380bn 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)	460,000	360,000	10.58 – 10.55	10.55	07	07
21D		20,000	20,000	10.56 – 10.55	10.53	02	02
Total		480,000	380,000

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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