First Female President of Pakistan's Central Bank Passes Away

Shamshad Akhtar, the first and only female president of the State Bank of Pakistan and a former finance minister, has passed away at the age of 71, according to Reuters, citing the country's Ministry of Finance.

At the time of her death, Akhtar was serving as the chairman of the Pakistan Stock Exchange, a significant role that placed her at the forefront of the country’s monetary policy, finance management, and capital markets.

She was the governor of the State Bank of Pakistan from 2006 to 2009 and later headed the Ministry of Finance in caretaker governments on the eve of general elections in 2018 and 2024.

Local media reported that she died of heart failure. Akhtar was considered one of Pakistan's most internationally experienced policymakers in economic policy and held several leadership positions, including vice president of the World Bank, and previously worked at the Asian Development Bank.