KARACHI ( A News) Dr. Shamshad Akhtar, a former governor of the State Bank of Pakistan and federal minister for finance, passed away on Saturday.

Her funeral prayers will be given in Karachi tomorrow following Zuhr prayers, according to family sources.

On January 2, 2006, Dr. Shamshad Akhtar became the first woman to serve as the 14th Governor of the State Bank of Pakistan. She was well-versed in banking and finance both domestically and abroad.

She was appointed Director General for Southeast Asia at the Asian Development Bank (ADB) in January 2004 before being appointed Governor.

She has previously held the positions of Director for Governance, Finance, and Trade Division for East and Central Asia at the ADB and Deputy Director General in the same department.

In 1990, Dr. Akhtar started working for the Asian Development Bank. In 1998, she was elevated to Manager after working in the financial sector as a senior and principle expert. She also worked as the ADB’s Coordinator for the APEC Finance Ministers’ Process from 1998 to 2001.

She served on a number of important bank committees, such as the Oversight, Appeals, and Reorganization committees. Additionally, Dr. Shamshad Akhtar represented the Asian Development Bank in discussions with the International Organization of Securities Commissions and the Bank for International Settlements.

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