Former SBP Governor Shamshad Akhtar dies today. Dr Shamshad Akhtar has passed away. Leaving behind a legacy of economic leadership and public service. Dr Shamshad Akhtar was widely respected for her role in strengthening Pakistan’s financial sector. She served as the Governor of the State Bank of Pakistan from 2006 to 2009 and was known for her firm stance on monetary discipline and financial reforms during a challenging period for the economy.
Akhtar, known for her leadership roles in both national and international financial institutions. She took over as the 14th governor of the SBP on January 2, 2006. Becoming the first woman to hold the position. She had also been the finance minister in the caretaker setups before the 2018 and 2024 general elections.
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She was born in Hyderabad. Akhtar received her early education in Karachi and Islamabad. She graduated from the University of Punjab with a Bachelor’s degree in Economics in 1974. She then acquired a Master‘s degree in Economics from the Quaid-i-Azam University in Islamabad. An M.A. in Development Economics from the University of Sussex in 1977 and a PhD in Economics from the United Kingdom’s Paisley College of Technology in 1980. She was also a post-doctoral fellowship Fulbright Scholar and was a visiting fellow at the Department of Economics, Harvard University in 1987.
President Asif Ali Zardari expressed grief over her passing and paid tribute to her services in the field of economics and financial management, noting her contributions to strengthening economic governance in the country. An accomplished economist, Dr Akhtar also worked with international financial institutions. Later served as Pakistan’s caretaker federal minister for finance. Throughout her career, she was admired for her professionalism, integrity, and commitment to economic stability.