Banking | MCQs

Explanation

The State Bank of Pakistan is the central regulatory authority for the country’s banking sector.

It manages monetary policy and oversees all banking functions.

Explanation

Explanation

National Bank was created on November 9, 1949, under National Bank of Pakistan Ordinance, 1949 for the purpose.

The NBP has over 1,500 branches in Pakistan and more than 18 locations overseas.

Explanation

HBL Bank gave a loan to Pakistan for its first budget

***

HBL was the first commercial bank to be established in Pakistan in 1947

***

HBL moved its operations to Pakistan in 1947 at the request of Muhammad Ali Jinnah, hence becoming the first commercial bank to lay its foundation in the country

Explanation

Explanation

On January 1, 1980, approximately 7,000 interest-free counters were opened at all the nationalized commercial banks, making Pakistan the first country in the Muslim world with Islamic banking.

Explanation

Discount rate

Explanation

Banks Nationalization Act 1974, the Federal Government assumed exclusive right of ownership, management and control of all bank

Explanation

The National Bank of Pakistan, (NBP) recently set a new “Guinness World Record” by installing the world’s highest ATM (automated teller machine) at the Pak-China border, Khunjerab Pass.

The ATM has been installed at a height of 16,007 feet above sea level, making it world’s highest-altitude ATM anywhere in the world.

This is the second time NBP has been awarded a position in Guinness World Record, the first time was in July 2009 for planting over 532,887 mangrove saplings in a day at Keti Bander.

Explanation

 The State Bank of Pakistan (SBP) is responsible for supervising the banking sector in Pakistan.