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Hrm Human Resource Management

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1. INTRODUCTION TO THE BANKING SECTOR
1.1 Banking Sector of Pakistan
The banking sector in Pakistan consists of Commercial Banks and Specialized Banking Institutions. During the quarter-1 of financial year 2004 as per SBP Quarterly report there has been robust growth in deposit mobilization and credit off take with a rise of PKR 23.1 billion in net credit to the private sector[1].
The banking/financial sector in Pakistan comprises of Commercial Banks, Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Non-banking Finance Companies (NBFCs) (leasing companies, Investment Banks, Discount Houses, Housing Finance Companies, Venture Capital Companies, Mutual Funds), Modarabas, Stock Exchange and Insurance Companies. Under the prevalent legislative structure the supervisory responsibilities in case of Banks, Development Finance Institutions (DFIs), and Microfinance Banks (MFBs) falls within legal ambit of State Bank of Pakistan while the rest of the financial institutions are monitored by other authorities such as Securities and Exchange Commission and Controller of Insurance[2].
At present there are 41 scheduled banks, 6 DFIs, and 2 MFBs operating in Pakistan whose activities are regulated and supervised by State Bank of Pakistan. The commercial banks comprise of 3 nationalized banks, 3 privatized banks, 15 private sector banks, 14 foreign banks, 2 provincial scheduled banks, and 4 specialized banks2.
1.2 State bank of Pakistan
The State Bank of Pakistan regulates the banking sector in Pakistan, mainly under the provisions of State Bank of Pakistan Act, 1956, and the Banking Companies Ordinance, 1962. Banking is too tightly monitored and controlled by the SBP with the result that initiative and innovation are conspicuous by absence in Pakistani banking.

A peculiar feature of Pakistani banking is its Islamic character where all the domestic

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