Karachi, February 20, 2026 — The State Bank of Pakistan (SBP) on Friday released the latest daily Karachi Interbank Offered Rates (KIBOR) to facilitate banks, financial institutions, and consumers in pricing loans and other financial products.
KIBOR serves as a key benchmark rate for lending and borrowing in Pakistan’s interbank market. The central bank publishes these rates on a daily basis to ensure transparency and stability in the financial system. The newly issued rates reflect marginal changes compared to the previous trading session on February 18, as banks remained closed on February 19 due to the nationwide Zakat deduction holiday.
Overall, the short-term tenors remained unchanged, while slight upward movements were observed in medium to long-term tenors, indicating stable market liquidity conditions and steady demand for funds in the interbank market.
Below is a comparison of KIBOR rates between February 20 and February 18, 2026:
KIBOR Rates – February 20, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.26 | 10.76 |
| 2-Week | 10.26 | 10.76 |
| 1-Month | 10.26 | 10.76 |
| 3-Month | 10.31 | 10.56 |
| 6-Month | 10.32 | 10.57 |
| 9-Month | 10.32 | 10.82 |
| 1-Year | 10.35 | 10.85 |
KIBOR Rates – February 18, 2026
| Tenor | Bid (%) | Offer (%) |
| 1-Week | 10.26 | 10.76 |
| 2-Week | 10.26 | 10.76 |
| 1-Month | 10.26 | 10.76 |
| 3-Month | 10.30 | 10.55 |
| 6-Month | 10.31 | 10.56 |
| 9-Month | 10.31 | 10.81 |
| 1-Year | 10.33 | 10.83 |
Market Insight:
Financial analysts noted that the slight uptick in longer tenors suggests cautious optimism among banks regarding liquidity conditions and economic stability. KIBOR rates play a crucial role in determining lending rates for corporate and consumer loans, making these updates important for borrowers, investors, and financial institutions alike.
The SBP continues to monitor market dynamics closely to ensure smooth functioning of the money market and stable monetary conditions.
Note: Banks remained closed on February 19, 2026, due to Zakat deduction.