The State Bank of Pakistan is Pakistan's central bank. The image of the Bank's offices in Islamabad is on the country's 500-rupee banknote.
Before the independence of Pakistan (14th August 1947) there was only Bank of India as the Bank of State. On 30th December 1948 the British Government's commision distributed the reserves between Pakistan and India. The total of 750 M reserves of gold for Pakistan, at the percentage of 30 percent and India was given the rest of the 70 percent.
The losses occurred for the independence were took from Pakistan and a total of 230 M and than in May 1948 Quaid-e-Azam Muhammad Ali Jinnah (the founder of Pakistan and the leader of Pakistan at that very time) took a step to establish the State Bank of Pakistan imidiately and it was implemented in June 1948 and it started working on the 1st July 1948.
Nawab of Bahawalpur gave a donation to the State Bank of Pakistan because of the very poor condition of the reserves. The Khan of Qalat also played an important role by donating a handsome amount of assets for the State Bank of Pakistan in shape of Gold.
