has tendered his resignation to the PML-N’s leader in line with the party's decision

In the recent news, Finance Minister Miftah Ismail has stated that the bar on the appointment of dual nationals as the State Bank of Pakistan (SBP) Governor has delayed the appointment of the critical position. Moreover, the finance minister, who was speaking in a local news outlet interview stated that he has offered the position of the governor to four to five individuals but all of them rejected the post of SBP governor.

 

Possible Qualified Candidates Are Mostly Dual Nationals 

 

Moreover, the finance minister explained that most top bankers suitable for the post of SBP governor usually have dual nationality which means that they cannot be appointed due to the bar on the appointment of dual nationals. The finance minister also expressed his reservation regarding the bar on those over the age of 65 years from holding the office of the SBP governor.

 

No One Can Hold the Office of the Governor After Attaining the Age of 65 Years

 

However, without giving any particular time frame, the finance minister said that the appointment of the SBP governor will be made soon. Under the State Bank of Pakistan Act, 1956 dual nationals cannot be appointed as the SBP Governor. Similarly, under the Act, no person can hold the office of the governor or deputy governor after attaining the age of sixty-five years.

 

It is pertinent to mention here that after the three-year term of Dr. Reza Baqir as the central bank governor expired on May 4, Dr. Murtaza Syed, the senior-most deputy governor of the central bank, assumed the office as acting SBP governor.

 

Read more: SBP Directs TAG Innovations to Refund All Outstanding Funds to its Clients

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