Pakistan names new governor of central bank

Chief Executive of Pakistan Business Council (PBC) Sayed Saleem Raza has been appointed Governor State Bank of Pakistan (SBP), Geo news reported.
Raza called on Prime Minister Syed Yousuf Raza Gilani on Monday after his appointment as Governor SBP.
Raza is one of the country’s more experienced international commercial bankers, to replace Shamshad Akhtar, the governor for the past three years whose tenure ends on new years’ day.
Saleem Raza will step in to the governor’s position at a difficult time Pakistan has recently signed a loan agreement worth US$7.6b with the international Monetary Fund to stave off an impending crisis on its foreign payments.

State Bank of Pakistan (SBP) Governor, Dr. Shamshad Akhtar has informed the government that she would like to relinquish her post on the completion of her first stint.
SBP spokesman, Syed Wasimuddin said that the Governor, Dr. Shamshad Akhtar has apprised of the government of her decision that she didn’t want any extension in her tenure. Dr. Shamshad Akhtar was appointed on January 2, 2006 for three years as the first woman Governor in the history of the Central Bank.
Dr. Shamshad Akhtar is Ph.D in Economics from Britain and a Fulbright Scholar of Harvard University. Shamshad Akhtar after having served the World Bank for ten years remained associated with the Asian Development Bank for 15 years.