It seems noteworthy that the policy measure limiting real estate-related loans in 1990 ultimately put an end to the land price bubble. 14.
Regarding the regulatory approach of SBP, I would like to quote short excerpts here from my speech at the Pakistan Microfinance Country Forum: “In developing regulations for microfinance, the State Bank has pursued a bottom-up approach, along with use of strong analytical and problem solving skills and industry consultation.