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The economy of Pakistan is a low income developing economy. It is the 24th-largest worldwide in terms of GDP based on purchasing power parity (PPP). According to 2021 estimate,Country has population of 227 million people,the nominal GDP of Pakistan stands at US$347 billion with a nominal GDP per capita of US$1,562;its GDP based on PPP stands at US$1.329 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 Office in 16 cities across Pakistan,including the Capital City 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(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).
Shakirullah Khan Durrani was a Pakistani banker who served as the managing director of Pakistan International Airlines and Governor of the State Bank of Pakistan. His daughter Tehmina Durrani is a wife of former chief minister of Punjab and current Prime Minister of Pakistan,Shehbaz Sharif.
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.
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.
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.
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.
Mahbubur Raschid was a Pakistani banker who served as the fourth Governor of the State Bank of Pakistan from 1967 to 1971.
Muhammad Yaqub is a Pakistani banker who served as the 12th Governor of the State Bank of Pakistan from 1993 to 1999.
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.
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 money market. The banks used it as a benchmark in their lending to corporate sector.
Murtaza Syed is a Pakistani economist and policymaker who is currently serving as acting governor of the State Bank of Pakistan since 6 May 2022.
References
- ↑ "Country paying the price for fleeting SBP governors".
- ↑ "State Bank of Pakistan". www.sbp.org.pk.
- ↑ "SBP MUSEUM & ART GALLERY". dnb.sbp.org.pk.
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