In a prestigious ceremony held on Pakistan Day, March 23, 2024, Dr. Shamshad Akhtar, the former caretaker finance minister, was honored with the Nishan-i-Imtiaz in recognition of her exceptional service in the public sector.
The award ceremony, commemorating Pakistan’s national day, saw approximately 400 individuals being acknowledged with presidential civil awards for their significant contributions across various fields.
Dr. Akhtar’s illustrious career is marked by her groundbreaking role as the Governor of the State Bank of Pakistan (SBP) from 2006 to 2009, where she made history as the first woman to lead the nation’s central bank.
Prior to her appointment at the SBP, Dr. Akhtar was associated with the Asian Development Bank (ADB) starting January 2004, initially as the Director General of the Southeast Asia Department and subsequently as its Deputy Director General.
Her tenure at ADB also included the role of Director for the Governance, Finance, and Trade Division within the East and Central Asia Department.
A native of Hyderabad, Dr. Akhtar embarked on her educational journey in Karachi and Islamabad, obtaining a B.A. in Economics from the University of Punjab in 1974.
She furthered her academic pursuits with an M.Sc. in Economics from Quaid-e-Azam University, Islamabad, followed by an M.A. in Development Economics from the University of Sussex in 1977. Dr.
Akhtar earned her Ph.D. in Economics from the UK’s Paisley College of Technology in 1980.
Recognized as a Fulbright Scholar, Dr. Akhtar has been a post-doctoral fellow and a visiting fellow at Harvard University’s Department of Economics in 1987.
Throughout her career, she has actively participated in and contributed to the international finance community, representing the Asian Development Bank at the Bank for International Settlements and the International Organization of Securities Commissions (IOSCO).
Dr. Akhtar’s extensive research and numerous presentations at global conferences and seminars have focused on vital economic and financial themes, including Monetary and Fiscal Policy, Banking and Capital Market, International Finance Architecture, and Regulation and Supervision.
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