Karachi: The State Bank of Pakistan (SBP) has expressed profound sorrow over the passing of its former Governor, Dr. Shamshad Akhtar, terming her demise a great loss for the country and the global financial community.

In a condolence message issued on Saturday, SBP said Dr. Shamshad Akhtar made history as the first female Governor of the central bank and was widely respected for her exemplary leadership, integrity, and unwavering commitment to public service. During her tenure, she played a pivotal role in strengthening the institutional framework of the State Bank of Pakistan and advancing sound monetary and financial sector policies, leaving behind a lasting legacy.

The statement noted that Dr. Akhtar also rendered distinguished services to Pakistan and the international community through senior leadership roles at the Asian Development Bank, the World Bank, and the United Nations. She also served as Caretaker Federal Minister for Finance and Revenue and Chairperson of the Pakistan Stock Exchange. Her illustrious career as a renowned economist and global development leader significantly enhanced Pakistan's standing in international financial and multilateral institutions.

'She will be remembered with deep respect and gratitude as a visionary leader, a distinguished economist, and a devoted servant of the nation,' the statement added.

The State Bank of Pakistan extended its deepest condolences to Dr. Shamshad Akhtar's family, friends, and loved ones, and prayed for eternal peace for the departed soul.