The International Monetary Fund (IMF) is a major financial agency of the United Nations,and an international financial institution funded by 190 member countries,with headquarters in Washington,D.C. It is regarded as the global lender of last resort to national governments,and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation,secure financial stability,facilitate international trade,promote high employment and sustainable economic growth,and reduce poverty around the world." Established on December 27,1945 at the Bretton Woods Conference,primarily according to the ideas of Harry Dexter White and John Maynard Keynes,it started with 29 member countries and the goal of reconstructing the international monetary system after World War II. It now plays a central role in the management of balance of payments difficulties and international financial crises. Through a quota system,countries contribute funds to a pool from which countries can borrow if they experience balance of payments problems. As of 2016,the fund had SDR 477 billion.
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 232 million people as of 2023,Pakistan’s position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according to the International Monetary Fund (IMF).
The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1929,its initial purpose was to oversee the settlement of World War I war reparations.
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.
Zhou Xiaochuan is a Chinese economist. Zhou served as the governor of the People's Bank of China from 2002 to 2018.
Yi Gang is a Chinese economist who served as the governor of the People's Bank of China from 2018 to 2023,vice governor of the People's Bank of China from 2007 to 2018,director of the State Administration of Foreign Exchange from 2009 to 2015,and assistant governor of the People's Bank of China from 2004 to 2007.
Raghuram Govind Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund. From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India. In 2015,during his tenure at the RBI,he became the Vice-Chairman of the Bank for International Settlements.
Habib Bank Limited abbreviated as HBL,is a Pakistani multinational bank based at Habib Bank Plaza,Karachi,Pakistan.
Malcolm D. Knight is a Canadian economist,policymaker and banker. He is currently Visiting Professor of Finance at the London School of Economics and Political Science and a Distinguished Fellow at the Center for International Governance Innovation. From 2008 to 2012,Knight was Vice Chairman of Deutsche Bank Group where he was responsible for developing and coordinating the bank's global approach to issues in financial regulation,supervision,and financial stability. He served as general manager of the Bank for International Settlements from 2003 to 2008 and as Senior Deputy Governor of the Bank of Canada (1999-2003),after holding senior positions at the International Monetary Fund (1975-1999).
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.
The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in the 2009 G20 Pittsburgh Summit as a successor to the Financial Stability Forum (FSF). The Board includes all G20 major economies,FSF members,and the European Commission. Hosted and funded by the Bank for International Settlements,the board is based in Basel,Switzerland,and is established as a not-for-profit association under Swiss law.
Zhu Min is a Chinese economist and is deputy managing director of the International Monetary Fund. He was the inaugural special advisor to the managing director. Zhu has held senior positions at the Bank of China from 2003 to 2009 and was a deputy governor of the People's Bank of China from 2009 to 2010.
JS Bank Limited (JSBL) (جےایسبینکلمیٹڈ) is a Pakistani commercial bank headquartered in Karachi,Pakistan. The bank is a prominent majority-owned subsidiary of JS Group. The bank was established in April 2007 as a result of the merger of two mega corporates,Jahangir Siddiqui Investment Bank Limited and American Express Bank. JS Bank Limited currently operates branches across Pakistan as well as an international branch in Manama,Bahrain.
The Financial Monitoring Unit is the Financial Intelligence Unit (FIU) of Pakistan established under the provisions of Anti-Money Laundering Act,2010. It is an independent intelligence service department of the Government of Pakistan and primarily responsible for analyzing transactions,money laundering cases,building efforts against the terrorist financing,and all sorts of financial crimes within the jurisdiction of financial laws of Pakistan.
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.
Amir Yaron is an Israeli-American economist and the current Governor of the Bank of Israel. Prior to serving as Governor,Yaron served as Professor of Banking and Finance at the Wharton School,University of Pennsylvania.
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.
Ajmal Ahmady is an Afghan-American economist and politician who formerly served as the Acting Governor of the Central Bank of Afghanistan,Da Afghanistan Bank,the Acting Minister of Commerce and Industry of Afghanistan,the Senior Economic Advisor to the President of Afghanistan,and represented Afghanistan on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline.
Murtaza Syed is a Pakistani economist and policymaker who served as the acting governor of the State Bank of Pakistan in 2022.
Jameel Ahmed is a Pakistani economist and banker who currently serves as the Governor of the State Bank of Pakistan. He assumed the position on 26 August 2022,after being appointed by the President of Pakistan for a five-year term.
