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Mr. I.A. Hanfi reappointed governor, State Bank of Pakistan.

Mr. I.A. Hanfi Reappointed Governor, State Bank of Pakistan

Mr. I.A. Hanfi, who has been appointed Governor, State Bank of Pakistan by the Federal Government for a period of three years assumed the charge of the office. He has replaced Mr. Kassim Parekh, who has been appointed Chairman, Pakistan Banking Council. A career Central Banker, Mr. Hanfi who earlier took over as State Bank Governor on 17th August, 1988 had resigned from the post in February, 1990.

Mr. Hanfi enjoys the unique distinction of being elevated to the post of Governor on the basis of his professional capabilities. It is for the first time in the history of the Bank that a central banker was appointed to this high office. He made yet another history by being re-appointed as State Bank Governor for the second time.

Born on 6th January, 1929, Mr. Hanfi took his Master's Degree in Economics in 1952 from Karachi University and stood First among the successful students that year. His long association with the country's central bank dates back to 1952 when he joined the Bank as an Office Class-I through open competition examination and stood First in order of merit. Mr. Hanfi was appointed Secretary of the Central Board of Directors of the State Bank in July 1965. He rose to the rank of Director in April, 1970 and in December, 1976 he was promoted as an Executive Director. In April 1984, he was appointed as Deputy Governor, State Bank of Pakistan. In August 1988, he was assigned the highest post of the Governor, State Bank of Pakistan. He resigned from this post and his resignation was accepted by the Government with effect from 28th February, 1990. Immediately after acceptance of his resignation, Mr. Hanfijoined as the Chairman of the Prudential Group of Companies consisting of a leasing company, two Modarabas and a general insurance company, all public limited companies and listed on the Stock Exchange.

Mr. Hanfi also served the Pakistan Industrial Credit & Investment Corporation (PICIC) on deputation as its Managing Director and Chief Executive from 25th October, 1981 to 4th April, 1984. When he had gone to the PICIC he was Executive Director in the State Bank.

Mr. Hanfi's distinguished and illustrious central banking career is spread over a period of about 38 years. He served almost all the departments of the State Bank. He headed various departments of the Bank including Banking Control, Audit and Accounts. As an Executive Director, he directed the affairs of the Banking Control, Banking Inspection and Agricultural Credit Departments of the State Bank.

He represented Pakistan at numerous international meetings in various countries and international institutions like World Bank, IMF, Asian Development Bank and Islamic Development Bank. He also served as Director on Boards of various institutions from time to time such as Investment Corporation of Pakistan, National Development Finance Corporation, Pakistan Security Printing Corporation Limited, National Investment Trust Limited, Philips Electrical Company of Pakistan, Federal

Bank for Cooperatives and Bankers Equity Limited.
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Publication:Economic Review
Date:Sep 1, 1990
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