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SBP updates board of directors

SBP updates board of directors

KARACHI: State Bank of Pakistan (SBP) on Friday updated the formation of Directors on the board of the central bank.

The board of directors has been updated following the assumption of charge by Tariq Bajwa as SBP governor.

According to the functions and responsibilities of the Board of Directors: (1)  The Board, with the exception of the powers entrusted to the Monetary Policy Committee, shall perform the following functions, namely:-to define and determine policies of the Bank regarding the execution of its functions, and approve internal rules for their implementation; and oversee foreign exchange reserve management and approve strategic investment and risk policy.

(2)  The Board shall submit a quarterly report to the Majlis-e-Shoora (Parliament) on the state of the economy with special reference to economic growth, money supply, credit, balance of payment and price development.”

The current members of the Board of SBP: Chairman: Tariq Bajwa, SBP Governor Shahid Mahmood, Secretary, Finance Division, Government of Pakistan, Appointed with effect from June 19, 2017. Dr. Tariq Hassan, Appointed on March 22, 2016, Present term ends on March 21, 2019.  Hafiz Mohammad Yousaf, Appointed on March 22, 2016, Present term ends on March 21, 2019 Zubyr Soomro, Appointed on March 22, 2016, Present term ends on March 21, 2019.  Khawaja Iqbal Hassan, Appointed on March 22, 2016, Present term ends on March 21, 2019.

Ardeshir Khursheed Marker, Appointed on March 22, 2016, Present term ends on March 21, 2019. Mohammad Riaz, Appointed on March 22, 2016, Present term ends on March 21, 2019. Sarmad Amin, Appointed on March 22, 2016, Present term ends on March 21, 2019. Mohammad Mansoor Ali, Corporate Secretary.