The cabinet has approved a list of Boards of Director (BOD) for the state Bank of Pakistan submitted by the Finance Division.
The Board of Directors (BOD) contain of Dr Ali Cheema, Dr Akbar Zaidi, Tariq Pasha, Najaf Yawar, Fawad Anwar, Nadeem Hussain, Mehfooz Ahmad khan, Zahid Fakhar ud Din Ibrahim, Finance Division Secretory, and the state Bank of Pakistan Governor.
According to the SBP act, the board is responsible to explain, accept and determine the general internal policies and rules of Bank regarding the accomplishment of it’s functions and approve the internal rule for implementation. The Board is also responsible to draw up and oversee foreign exchange reserve management, strategic investment and risky policy between numerous other functions.
The Finance Minister Miftah Ismail mention that the Government will nominate the new Governor of the central bank by the coming week.