When did the State Bank of Pakistan start its operations?

The State Bank of Pakistan commenced operations on July 1 1948 serving as the central bank of the newly independent nation. Established to regulate monetary policy issue currency and maintain financial stability it played a vital role in shaping Pakistan’s economic foundation. Initially headquartered in Karachi the bank managed the transition from the Reserve Bank of India to a sovereign financial authority. Over the decades it has introduced reforms supervised banking institutions and supported economic growth. The State Bank also plays a key role in managing inflation foreign exchange reserves and promoting financial inclusion nationwide.