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The economy of Pakistan is the 20th-largest worldwide in terms of GDP based on purchasing power parity (PPP). According to the last population cencus in 2017 by Statistics bureau of pakistan,Country has population of 207 million people,the nominal GDP of Pakistan stands at US$347.74 billion with a nominal GDP per capita of US$1,562.26;its GDP based on PPP stands at US$1.33 trillion with a GDP (PPP) per capita of US$5,973.
The Pakistani rupee is the official currency of Pakistan since 1948. The coins and notes are issued and controlled by the central bank,namely State Bank of Pakistan.
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 January 1,1974,when the bank was nationalized 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 Pakistan,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 offices in 16 cities across Pakistan,including the capital city Islamabad and the four provincial capitals. The State Bank of Pakistan has other fully owned subsidiaries as well:National Institute of Banking and Finance (NIBAF),the training arm of the bank providing training to commercial banks;the Deposit Protection Corporation (DPC);and ownership of Pakistan Security Printing Corporation (PSPC).
Ishrat Husain is a Pakistani banker and economist who served as the dean of the Institute of Business Administration (2008-2016) and the Governor of the State Bank of Pakistan (1999-2006). He presently serves as Advisor to Prime Minister Imran Khan for Institutional Reforms &Austerity,in office since August 2018.
Shamshad Akhtar is a Pakistani development economist,United Nations diplomat and banker who also served as the caretaker Finance Minister of Pakistan.
The Bank of Punjab is a Pakistani bank which is based in Lahore,Pakistan. It serves Pakistan and functions as an international bank and is one of the prominent financial institutions of the country holding AA ratings from Pakistan Credit Rating Agency (PACRA).
1LINK (Guarantee) Limited is a consortium of major banks that own and operate the largest representative interbank network in Pakistan and is incorporated under the Company Law,Section 42 by Security and Exchange Commission of Pakistan (SECP). 1LINK is converted to Private Limited Company under section 49 of Companies Act 2017 on July 5,2018.
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 Fifteenth 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.
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 Osman Ali was a Pakistani banker who served as the 7th Governor of the State Bank of Pakistan.
State Bank of Pakistan Museum &Art Gallery is a museum on Ibrahim Ismail Chundrigar Road in Karachi,established in 2004 to introduce the first Monetary Museum of Pakistan. The current State Bank of Pakistan Museum &Art Gallery building,previously the Imperial Bank of India,is a Greco Roman building in Jodhpuri Red Sandstone constructed in the 1920s by the British government. In 2004,the State Bank of Pakistan decided to adapt the building as a museum;work on the projects started in 2006 and was devoted to conservation of the building and acquisition of the collection.
Reza Baqir is a Pakistani economist who is the 20th and current Governor of the State Bank of Pakistan,a position he held since 2019.
Total Public Debt of Pakistan is debt owed by the government serviced out of consolidated fund and debts owed to the International Monetary Fund.
Raast is Pakistan's first instant payment system that enable end-to-end digital payments among individuals,businesses,and government entities instantaneously. Raast offer instant,reliable and zero-cost digital payment services to the people of Pakistan with the objective of promoting the adoption of digital financial services in the country. The Raast System is fully owned,developed and operated by State Bank of Pakistan.
References
- ↑ "Country paying the price for fleeting SBP governors".
- ↑ "State Bank of Pakistan". www.sbp.org.pk. Archived from the original on 2012-07-05. Retrieved 2017-08-09.
- ↑ "SBP MUSEUM & ART GALLERY". dnb.sbp.org.pk.
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