Both developed and emerging countries have had to adjust monetary schemes focused on the interest rate as the single instrument to maintain stability. In fact, financial stability objectives were implicitly and explicitly added, and instruments were adjusted to new priorities. Within this framework, many central banks have had to revisit their usual regulation, operation and intervention mechanisms.
As most of the poor derive their livelihoods from agriculture, SMEs or have no tangible assets, the State Bank of Pakistan is facilitating flow of agriculture credit, SME loaning and microfinance to help them. Four years ago, ZTBL was the only major provider of credit to agriculture. Today, the commercial banks have overtaken ZTBL as the main sources of agriculture credit.