Syed to head SBP as Baqir completes 3-year term
Dr Murtaza Syed, deputy governor of State Bank of Pakistan (SBP), will officiate as the country’s central bank chief as present governor Dr Reza Baqir completed its three-year term on Wednesday.
In a Twitter post on Tuesday, Pakistan’s Finance Minister Miftah Ismail said Reza Baqir’s three-year term will expire on May 4. However, the government did not announce a replacement or say when Baqir’s successor will be announced.
“I have spoken to him and told him of the government’s decision,” the finance minister wrote on Twitter, acknowledging Dr Baqir efforts during his three years of service.
Dr Baqir, a long-time economist with the International Monetary Fund (IMF), was appointed as the SBP governor on May 4, 2019.
In a series of tweets, Dr Baqir thanked Allah and his fellow team members for giving him a chance to serve in the public office. “To other fellow Pakistanis, especially overseas, I encourage you to consider public service,” he said.
The former SBP governor has also worked with the World Bank, the Massachusetts Institute of Technology, and the Union Bank of Switzerland.
Dr Murtaza Syed, an eminently qualified economist with rich IMF experience, will officiate his responsibilities as the governor SBP until the government confirm his appointment or appoint another person to take the charge of the central bank.
Dr Syed, a PHD in economics, has more than 20 years of experience in macroeconomic research and policy making and worked with the IMF for 16 years before resigning to join the State Bank of Pakistan.