Governor, State Bank of Pakistan Shamshad Akhtar of Pakistan
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Shamshad Akhtar took over as Governor, State Bank of Pakistan on 2nd January, 2006 for a three-year term.
Akhtar has been serving the Asian Development Bank (ADB) as its Director General, Southeast Asia Department since January, 2004.
Akhtar has also been dealing with the banking sector’s legal, regulatory and institutional reforms while advising on diversification of the industry to exploit long term funding through development of bond market.
Akhtar said the toughest decision of her career came in November when the central bank raised its key interest rate to 15 percent as stipulated by the IMF in order for the loan to go ahead.
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Akhtar was a World Bank economist based in Islamabad until a Fullbright sabbatical in 1987 took her to the Department of Economics at the Harvard University.
Dr Shamshad Akhtar said that Pakistan is a large regional market and is trying to fully exploit thesituation.
QUESTIONS ANSWERS SESSION: During the Questions Answers Session, replying to a question about the quality and condition of the currency notes, Dr Shamshad Akhtar said the printing is done by the Security Printing Corporation through latest and sophisticated technology.
To a question about stock exchanges, Dr Shamshad Akhtar said the stock exchanges had a rough ride.
VISIT TO TORONTO: Dr Shamshad Akhtar said that this is her second visit to Toronto.
In addition to the dinner at Capital Banquet Hall, Dr Shamshad Akhtar had meetings with two educational centers and a lunch with Canada-Pakistan Business Council.
PROFILE: Dr Shamshad Akhtar is the first woman and the 14th Governor of the State Bank of Pakistan since its inception in July, 1948.
ACADEMIC EXCELLENCE: Dr Shamshad Akhtar was born in Hyderabad.
Dr Shamshad Akhtar remained surrounded most of the time by the local media and the participants.
executive, as governor of the central bank after Shamshad Akhtar said she will step down from the post as the nation grapples with its worst economic crisis in a decade.
State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar has ruled out the possibility of providing re-finance facility on yarn and fabrics, describing it harmful to value-added industry.
Dr Shamshad Akhtar said the total volume of agriculture loans soared to Rs 211 billion from Rs 50 billion with a ratio of last years 30 per cent (annual) increase, while the increasing ratio from July to November was 19 per cent.
Mrs Shamshad Akhtar is stepping down at the end of this week after the completion of her three years tenure as informed by the spokesperson for the bank.
Dr Shamshad Akhtar has informed the government of her decision to step down effective Jan 1, 2009, on completion of her three-year term, said spokesman Syed Wasimuddin.
on 2nd January, 2006 for a three-year term.
Southeast Asia Department since January, 2004.
exploit long term funding through development of bond market.
at international conferences/seminars/symposia.
Dr Shamshad Akhtar has informed the government of her decision to step down.
Shamshad Akhtar took over as central bank governor on Jan 2, 2006.
Despite the political turmoil surrounding president Pervez Musharraf and the upcoming elections, Pakistan’s underlying economy has witnessed significant developments and growth over the past two years and governor of the State Bank of Pakistan (central bank) Dr Shamshad Akhtar has been able to restructure many aspects of the economy and implement many new policies in the banking sector, including an important financial inclusion strategy.
Thursday, January 15, 2009, Muharram-ul-Haram 17, 1430 A.
KARACHI: The Banker Magazine, a subsidiary of renowned newspaper Financial Times of London, has presented the Best Central Bank Governor Award to Dr Shamshad Akhtar in Asia for the year 2008.
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Ms Robinson said Dr Akhtar has been able to restructure many aspects of economy and implement many new policies in banking sector, including an important financial inclusion strategy.
Dr Akhtar said it was not only an honor for her but for the country also, which now has efficient financial system.
Last year Dr Akhtar was conferred with Best Central Bank Governor for Asia 2007 award in recognition of her outstanding contribution in overall financial sector and monetary policy management in Pakistan by Emerging Markets Newspaper, a part of Euromoney Institutional Investor plc, one of largest and most respected providers of financial information worldwide.
Shamshad Akhtar has been listed among the ten outstanding Asian women leaders.
Shamshad Akhtar was the first woman Governor of Pakistans Central Bank placed in a better position for tackling the existing financial crisis in the country.