Tuesday, August 9, 2022

The Federal Cabinet approved the appointment of the Board of Directors of the State Bank

The Federal Cabinet approved the appointment of the Board of Directors of State Bank of Pakistan (SBP).

According to the notification issued by the cabinet division, the federal cabinet has appointed Dr. Ali Cheema, Dr. Akbar Zaidi and Tariq Pasha as directors of the central bank.

Najaf Yawar, Fawad Anwar, Nadeem Hussain Zahid Fakhruddin, Ibrahim and Mahfouz A Khan have also been appointed as directors.

Secretary Finance and Governor State Bank will also be among the directors, the Federal Cabinet approved all the names on the summary of the Ministry of Finance.

It should be noted that the term of the former Governor State Bank Raza Baqir was completed on May 4 this year, since then the central bank has been working without a head, on which the ruling coalition government led by the Muslim League (N) has been criticized. Being targeted.

In May 2019, the Pakistan Tehreek-e-Insaf government appointed economist Raza Baqir as the Governor of State Bank for three years.

According to the notification issued by the Finance Division, Raza Baqir was appointed under Section 10 (3) of the State Bank Act, 1956 for a period of three years.

Raza Baqir served as the International Monetary Fund (IMF) mission chief in Romania before being appointed as State Bank Governor in January. He has been associated with the IMF as the Debt Policy Division.

He has also worked with the World Bank, Massachusetts Institute of Technology and Union Bank of Switzerland.

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