Finance Minister Muftah Ismail has announced the name of the new governor to replace the current central bank governor Raza Baqir.
In a message released on Twitter on Wednesday, Muftah Ismail said that Dr Murtaza Syed would be the new governor.
In his tweet, he wrote that “at the end of Raza Baqir’s term, according to the law, the senior deputy governor is to take office.”
According to the Finance Minister, “Dr. Murtaza Syed, an economist with good experience related to IMF, will take over the post.”
Incumbent SBP governor Raza Baqir was appointed head of the central bank during the previous PTI government. According to the agreement reached with him, the term of office was three years, which the present government has not extended.
Muftah Ismail had made it clear in an earlier message that the government message had been delivered to him on the completion of Raza Baqir’s term.
Dr. Murtaza Syed was appointed by the Government of Pakistan as Deputy Governor of SBP for three years in 2020.
Murtaza Syed, who joined the International Monetary Fund (IMF) in 2004, had been working with the IMF before being brought to the SBP.
Murtaza Syed Raza Baqir, who served as the Deputy Division Chief in the IMF’s Strategy Policy and Research Division, is serving as the SBP’s Senior Deputy Governor at the time of his resignation.
In addition to financial affairs, Murtaza Syed has worked in Asia and the Pacific, where he has been involved in the economies of Colombia, Cyprus, the European Union, Korea and Japan.
Dr. Murtaza Syed, the IMF’s Deputy Resident Representative in China, holds a doctorate in economics from Oxford University.