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The Karachi Interbank Offered Rate, commonly known as KIBOR, is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market.[1] The banks used it as a benchmark in their lending to corporate sector.[2]

It is also known as the benchmark rate and is published by Financial Market Association of Pakistan.[2]


It is quoted daily by participating banks on Reuters at 11:30 am.[3] With 20 member banks, KIBOR rates are calculated by averaging the middle twelve rates, excluding the four highest and four lowest quotes.[4]


See also[edit]


  1. ^ "SBP exempts Islamic banks from using KIBOR". November 1, 2016.
  2. ^ a b "State Bank of Pakistan".
  3. ^ "State Bank of Pakistan".
  4. ^ "State Bank of Pakistan".
  5. ^ a b c d e f g Memon, Bilal (April 26, 2022). "6-month KIBOR has hit a 13-year high at 14.1%. Here is what this means". Brecorder.