KARACHI, Feb 23: Editor-in-Chief of The Banker Magazine, Stephen Time well presented the Central Bank Governor of the year in Asia Award to Governor State Bank, Dr Ishrat Husain at a ceremony held at a local hotel on Wednesday.

The Banker magazine of London is a subsidiary of the Financial Times. This is first time in Pakistan's history that any Governor of State Bank has received this prestigious award.

The ceremony was attended, among others, by Chairman, Securities and Exchange Commission of Pakistan, Dr Tariq Hassan, Deputy Governors SBP, Tawfiq A. Hussain and Mansur-ur-Rehman Khan and Chief Executives of commercial banks.

Speaking on the occasion, Time well paid glowing tributes to the Governor SBP, Dr Ishrat Husain. He said the reforms and restructuring of Pakistan's financial sector under the dynamic leadership of Dr Ishrat Husain have resulted in a more resilient and efficient financial system. He said the State Bank has progressively improved its capacity to manage and maintain macro-economic stability. -APP