SINDH PROVINCIAL COOPERATIVE BANK
Sindh Central Cooperative Bank Ltd. was established in 1919. Later on it was named as Sindh Provisional Cooperative Bank Ltd. The Bank is run by 15 Board of Directors, five (5) of whom are nominated by the Sindh Government, five (5) by the Federal Bank for Cooperatives and the remaining five (5) are elected by the Cooperative Societies. Registrar Cooperative Societies is the Ex-Officio Chairman of SPCB.
Arranging Credit facilities for Agriculture Cooperative Societies is one of the main Functions of the Cooperative Bank. These Loans are arranged through Sindh Provincial Cooperative Bank Ltd. The State Bank of Pakistan was financing Sindh Provincial Cooperative Bank till 1966. However, after the establishment of the Federal Bank for Cooperatives, the SPCB was declared Apex Bank under the FBC for Cooperative Act 1977. The FBC advanced short-term Seasonal Loans and medium-term Tractor Loans against 100% guarantee of Sindh Government.
However, because of the failure in repayment of Loans to the Federal Bank, it had stopped advancing Loans to SPCB since 1989. The matter of Reactivation / Rehabilitation or otherwise of the Sindh Provincial Cooperative Bank Ltd., was placed before the Government for taking decision on the issue.
The Sindh Cabinet in its meeting held on 20th Jan, 2004 had approved in principal proposal for Liquidation of the SPC Bank and establishment of Micro Credit Bank in its place. The proposal was to be placed before the Cabinet after the details have been worked out. A proposal of establishment of Sindh Bank on the pattern of Punjab Bank is now under consideration with Finance Department.