SBP establishes financial institutions resolution department

By MG News | December 20, 2024 at 09:37 PM GMT+05:00

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December 20, 2024 (MLN): The State Bank of Pakistan (SBP) has established a new department, the Financial Institutions Resolution Department (FIRD).

This department operates under the Banking Policy & Regulations Group and is responsible for resolving issues related to distressed regulated entities in the financial sector.

Additionally, it mentions that Syed Jahangir Shah has been appointed as the Director of FIRD, assuming responsibility for leading the department.

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