Staff Reporter
Karachi
The Islamic Financial Services Board (IFSB) Council in its 37th meeting, appointed Governor State Bank of Pakistan Dr. Reza Baqir, as the Deputy Chairman of the Council for the year 2021. IFSB Council is the highest level policy making body comprising of the Central Bank Governors and heads of the leading regulatory and supervisory authorities.
The announcement was made in the Council meeting chaired by Datuk Nor Shamsiah Mohd Yunus, the Governor Bank Negara Malaysia, and was attended by the Central Bank Governors and heads of Regulatory and Supervisory Authorities of more than 20 countries. During the meeting, Governor Dr. Reza also participated in a tour de table discussion on economic and financial stability under COVID-19 pandemic.
He shared with the Council members
the measures taken by State Bank in combating COVID-19 challenges by providing required liquidity support to banks through various
regulatory interventions and concessionary refinance schemes to businesses through banks to avoid layoffs, direct support for hospitals
and for new investments.
