KARACHI: The Board of Management and Staff of the State Bank of Pakistan (SBP) expressed profound sorrow and grief over the sad demise of the former governor, Dr Shamshad Akhtar.

In a statement, the board said that Dr Shamshad Akhtar made history as the first female Governor of the State Bank of Pakistan. Her tenure was marked by exemplary leadership, integrity and an unwavering commitment to public service.

Dr. Akhtar also rendered eminent service to Pakistan and the international community through her senior leadership roles at the Asian Development Bank, the World Bank and the United Nations.

While extending its deepest condolences to her family, friends and loved ones, the SBP said she will be remembered with deep respect and gratitude as a distinguished economist and visionary leader.

Asian Development Bank President Masato Kanda has expressed his deep condolences on the death of Dr Shamshad Akhtar.

In a statement issued in Manila on Sunday, the ADB president said: “It is with shock and disbelief that I learned of the passing of Dr Shamshad Akhtar.”

‘‘As a former director general at the ADB, she led with integrity, shaping key initiatives and laying a strong foundation for sustainable growth in the region,” he added. ‘‘Her leadership at ADB continues to command respect. The loss of such a leader will be felt by all of us at ADB and the broader development community. On behalf of ADB, I extend our profound sympathies and heartfelt condolences to her family and the people whose lives she touched.’’

Published in Dawn, December 29th, 2025