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Ishrat Hussain: Wikis


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Ishrat Husain, HI, has been appointed Dean and Director of the Institute of Business Administration, Karachi. He assumed office as the 13th Governor of the State Bank of Pakistan, Pakistan's Central bank on 2 December 1999, and retired on 1 December 2005 after six years of service. He also heads the National Commission for Government Reform.


Educational background

Dr. Husain holds a Masters degree in Development Economics from Williams College and a Ph.D in Economics from Boston University. He is a graduate of the Executive Development Program jointly sponsored by Harvard, Stanford and INSEAD.

Historical experience

Dr. Ishrat Husain took over as the Dean and Director of the Institute of Business Administration (IBA), Karachi on March 12, 2008. Since May 2006 he was holding the office of Chairman, National Commission for Government Reforms (NCGR) in the Prime Minister Secretariat at Islamabad with the status of the Federal Minister. In that capacity he completed a comprehensive report on the reorganization of the Government's structure, processes human resource management policies.

Ishrat Husain became the Governor of Pakistan's Central Bank in December 1999. During the next six years, he implemented a major program of restructuring of the Central Bank and steered the reforms of the banking sector, which are now recognized by the World Bank and IMF to be among the best in developing countries. The main ingredients of the program were merit-based recruitment, competency-enhancing training, performance-linked promotion, technology-driven business process and induction of high-level skilled human resources. He placed great emphasis on practicing values such as integrity, trust, teamwork for the entire work force starting from the top. The State Bank of Pakistan experience has demonstrated that change management is possible in a public organization too.

Prior to his appointment as Governor of State Bank of Pakistan, Dr. Husain was the director for Central Asian Republics at the World Bank. This position entailed a variety of different responsibilities, with the primary focus being the managing of the World Bank's relations, policies, and programs with these countries. Earlier, he was the director of Poverty and Social Policy Department. He was responsible for the Bank's policies and strategy development in such areas as Poverty Reduction, Gender Relations and Dynamics, NGOs, and Reform within the Public Sector. He was the Chairperson of the Public Sector Group.

From 1991-1994, Dr. Husain served as Chief Economist for Africa and later became Chief Economist of the World Bank for the East Asian and Pacific region, with focus on China. He also assisted in the coagulation of the World Bank's strategic approach to Latin American Debt Problems which subsequently resulted in the Bank's support for the Brady Initiative of Debt Reduction.

In 1986, Dr. Husain led the World Bank's team that advanced a Structural Adjustment program in the nation of Nigeria. He did this as the World Bank's Resident Representative. Prior to this, he was responsible for the design of a World Bank program to support Ghana's Economic Reform Program.

Before joining the World Bank, he worked at the Government of Sindh in the Finance department. He held senior managerial positions in the Planning & Development Department of the Finance department. He was selected to the elite Civil Service of Pakistan in 1964 securing a position on merit.

Past positions held

Chairman, National Commission for Government Reforms (2006-2008).

Governor, The State Bank of Pakistan (1999-2005).

Dr Husain held the following positions during his tenure with the World Bank.

  • Director for Central Asian Republics
  • Director, Poverty and Social Policy
  • Chairperson of the World Bank's Public Sector Group
  • Chief of the Debt and International Finance Division
  • Chief Economist of the World Bank for East Asia and Pacific region
  • Chief Economist for Africa
  • Resident Representative in Nigeria

Awards and achievements

  • Asian Banker Life Time achievement award 2006.
  • Central Bank Governor of the Year in Asia Award (2005) by The Banker magazine. The first Pakistani Governor of the State Bank to receive the award.
  • Jinnah Award (2005) in recognition of his outstanding and meritorious services to people as Governor of the State Bank of Pakistan.[1]
  • Hilal e Imtiaz - Conferred by the President of Pakistan 2003.

Current Responsibilities

  • Chairman, South Asian Network of Economic Research Institutions (SANEI)
  • Member, Board of Directors, Pakistan National Council of Arts
  • Chairman, National Commission for Government Reforms (NCGR)
  • HEC Distinguished National Professor
  • Chairman, HEC Social Sciences Committee
  • Chairman, Kashf Foundation
  • Member, Board of Trustees, The Aga Khan University (AKU)
  • Member, Board of Governors, National School of Public Policy (NSPP)
  • Member, Governing Council, International Centre for Education in Islamic Finance (INCIEF), Malaysia
  • Member, Board of Directors, National Academy of Performing Arts (NAPA)
  • Member, Board of Directors, Mahbubul Haq Centre for Human Development
  • Member Senate, Pakistan Institute of Development Economics (PIDE)
  • Distinguished Visiting Fellow, Social Policy Development Centre (SPDC)
  • Member, Advisory Council, Woodrow Wilson Center.


  1. ^ DAWN (2006) Ishrat Hussain, late Akhtar Hameed honoured. 1 May. Retrieved on 25 April, 2008.


External links

Preceded by
Muhammad Yaqub
Governor of State Bank of Pakistan Succeeded by
Shamshad Akhtar


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