Here is a list of the governors of the State Bank of Pakistan. [1]
No | Governor | Took office | Left office | Time in office |
---|---|---|---|---|
1 | Zahid Hussain | 10 June 1948 | 19 July 1953 | 5 years, 40 days |
2 | Abdul Qadir | 20 July 1953 | 19 July 1960 | 7 years |
3 | Shujaat Ali Hasnie | 20 July 1960 | 19 July 1967 | 7 years |
4 | Mahbubur Raschid | 20 July 1967 | 1 July 1971 | 3 years, 347 days |
5 | Shahkurullah Durrani | 1 July 1971 | 22 December 1971 | 174 days |
6 | Ghulam Ishaq Khan | 22 December 1971 | 30 November 1975 | 3 years, 344 days |
7 | S. Osman Ali | 1 December 1975 | 1 July 1978 | 2 years, 213 days |
8 | Aftab Ghulam Nabi Kazi | 15 July 1978 | 9 July 1986 | 7 years, 359 days |
9 | Vasim Aon Jafarey | 10 July 1986 | 16 August 1988 | 2 years, 38 days |
10 | Imtiaz Alam Hanfi | 17 August 1988 | 2 September 1989 | 381 days (first term) |
11 | Kassim Parekh | 5 September 1989 | 30 August 1990 | 359 days |
- | Imtiaz Alam Hanfi | 1 September 1990 | 30 June 1993 | 2 years, 303 days (second term) |
12 | Muhammad Yaqub | 25 July 1993 | 25 November 1999 | 6 years, 124 days |
13 | Ishrat Husain | 2 December 1999 | 1 December 2005 | 6 years |
14 | Shamshad Akhtar | 2 December 2006 | 1 January 2009 | 2 years, 31 days |
15 | Salim Raza | 1 February 2009 | 2 June 2010 | 1 year, 121 days |
16 | Shahid Hafeez Kardar | 8 September 2010 | 13 July 2011 | 309 days |
17 | Yaseen Anwar | 19 October 2011 | 31 January 2014 | 2 years, 104 days |
18 | Ashraf Mahmood Wathra | 29 April 2014 | 28 April 2017 | 3 years |
19 | Tariq Bajwa [2] | 7 July 2017 | 3 May 2019 | 1 year 10 month |
21 | Reza Baqir [3] | 4 May 2019 | 4 May 2022 | 3 years |
22 | Murtaza Syed | 6 May 2022 | 18 Aug 2022 | 104 days |
23 | Jameel Ahmed | 19 Aug 2022 | - | - |
The economy of Pakistan is classified as a developing economy. It is the 23rd-largest in terms of GDP based on purchasing power parity (PPP). In 2021, the country had a population of 227 million people. As of FY22, the nominal GDP of Pakistan stands at US$376 billion with a nominal GDP per capita of US$1,658 (177th); its GDP based on PPP stands at US$1.512 trillion with a GDP (PPP) per capita of US$6,662 (168th).
The State Bank of Pakistan (SBP) is the Central Bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was nationalised and the scope of its functions was considerably enlarged. The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of the country in Karachi. The bank has a fully owned subsidiary with the name SBP Banking Services Corporation (SBP-BSC), the operational arm of the Central Bank with Branch Office in 16 cities across Pakistan, including the capital Islamabad and the four provincial capitals Lahore, Karachi, Peshawar, Quetta. The State Bank of Pakistan has other fully owned subsidiaries as well: National Institute of Banking and Finance, the training arm of the bank providing training to Commercial Banks, the Deposit Protection Corporation, and ownership of the Pakistan Security Printing Corporation. In spite of being the world's fifth-largest population, Pakistan is facing a precarious financial situation with a meagre reserve of less than $3.7 billion in the State Bank. This amount is only sufficient to cover a mere three weeks of imports. The country's industry has been severely impacted by import restrictions and a significant devaluation of the national currency. Consequently, public construction projects have come to a standstill, textile factories are operating partially, and domestic investment has notably decelerated. Pakistan's challenging economic landscape has led to a large portion of its population living in rural poverty. Over the years, the country has engaged in more than two dozen IMF deals, but many of these agreements were eventually broken, adding to the complexity of the situation.
Shamshad Akhtar is a Pakistani development economist, United Nations diplomat and banker who also served as the caretaker Finance Minister of Pakistan.
Zahid Husain was the founder and the first governor of State Bank of Pakistan from June 1948 to July 1953. He also served as Pakistan's first High Commissioner to India from August 1947 to April 1948.
The National Institute of Banking and Finance (NIBAF) is a subsidiary of the State Bank of Pakistan (SBP) head by the managing director, a board of directors and the governor of State Bank of Pakistan. NIBAF, a non-profit organisation, aims at providing training and development to central and commercial bankers at national as well as international level. One of its important roles is to develop human capital of SBP and its subsidiaries. It has trained 140 participants from friendly countries through 22 weeks of training during the financial year 2006-07.
Muhammad Imtiaz Alam Hanfi was a Pakistani banker who served as the governor of the State Bank of Pakistan (SBP) and has been part of various government committees, including the Planning Commission. He was the first central bank governor in the country who came from within the State Bank of Pakistan and not belonging to a political party or international bodies like IMF etc.
Syed Salim Raza is a British Pakistani banker and financier who served as the 15th Governor of State Bank of Pakistan. In September 2018, Raza was appointed to the Economic Advisory Council (Pakistan), the Prime Minister's Economic Advisory Council.
MNET Services Private Limited was a Pakistani operator of inter-bank connectivity platform of MCB Bank Ltd for online financial transaction processing and offers a managed services portfolio that includes card personalisation & management, mobile payment services and ATM & POS controller hosting.
Yaseen Anwar is a Pakistani-American banker who had been the Governor of the State Bank of Pakistan from 20 October 2011 to 31 January 2014. He previously also acted as deputy governor and has 33 years of experience in international banking. Anwar holds a dual Pakistan and US citizenship. He is a graduate of the Wharton Business School at the University of Pennsylvania.
Ashraf Mahmood Wathra was the 18th Governor of State Bank of Pakistan. He was appointed as the State Bank Governor on 29 April 2014 and served until 28 April 2017.
Kassim Parekh, was the 11th Governor of the State Bank of Pakistan from September, 1989 to August, 1990. He belong to the Memon family and died at the age of 86. One of his son named Muhammad Yaseen Parekh lived in Karachi, Pakistan along with his 2 sons and 1 daughter named Muhammad Waqas Parekh, Uzair Parekh and Aqsa Parekh.
Tariq Bajwa is a retired Pakistani civil servant who served in BPS-22 grade as the Finance Secretary and Economic Affairs Secretary of Pakistan. Bajwa also served as the 19th Governor of the State Bank of Pakistan and the 20th Chairman of the Federal Board of Revenue. He is the only Pakistani who won the Littauer fellowship at Harvard University. He also received a master's degree in Public Administration from the same institution. Bajwa is batchmates with Shehzad Arbab, Sajjad Saleem Hotiana and Babar Yaqoob Fateh Muhammad.
Shahid Hafeez Kardar is a Pakistani economist and former provincial finance minister. He served as the 16th Governor of the State Bank of Pakistan from September 2010 to July 2011.
Syed Shujaat Ali Hasnie was a Pakistani banker who served as the third Governor of the State Bank of Pakistan.
Abdul Qadir was a Pakistani banker who served as the second Governor of the State Bank of Pakistan and as the 2nd Finance Secretary of Pakistan.
Mahbubur Raschid was a East Pakistani banker who served as the fourth Governor of the State Bank of Pakistan from 1967 to 1971.
Syed Osman Ali was a Pakistani banker who served as the seventh Governor of the State Bank of Pakistan.
Muhammad Yaqub is a Pakistani banker who served as the 12th Governor of the State Bank of Pakistan from 1993 to 1999.
Reza Baqir is a Pakistani economist who served as the 20th Governor of the State Bank of Pakistan, from 4 May 2019 to 4 May 2022.
Murtaza Syed is a Pakistani economist and policymaker who served as the acting governor of the State Bank of Pakistan in 2022.