Finance Minister Miftah Ismail stated on Saturday that the ban on dual nationality being appointed as Governor of the State Bank of Pakistan (SBP) has caused the appointment to be delayed.
The finance minister said on the Dunya News programme Aaj Kamran Khan Kay Sath that he offered the office of governor to four or five people, but all of them declined.
The minister added that most top bankers qualified for the position have dual nationality, which means they cannot be chosen owing to the dual nationality rule.
The minister also voiced reservations about the governorship being restricted to persons over the age of 65.
However, without specifying a time range, the minister said that the appointment will be made shortly.
A dual national cannot be nominated as Governor of the State Bank of Pakistan under the State Bank of Pakistan Act of 1956. Similarly, no one may serve as governor or deputy governor after reaching the age of 65, according to the Act.
It is worth noting that when Dr. Reza Baqir’s three-year tenure as central bank governor ended on May 4, Dr. Murtaza Syed, the central bank’s senior-most deputy governor, took over as interim governor.