I am immensely pleased to know that the State Bank of Pakistan, which was inaugurated by the Father of the Nation in 1948, has completed 60 years of its existence. This is indeed a great milestone achieved by this great institution. During all these years, the Bank continues to play its regulatory role with commitment and dedication.
Consequently, the SBP today is a fully autonomous institution responsible for the country's monetary policy in addition to being the regulator of the country's banking system. It has always reaffirmed its independence and taken the measures necessary to achieve its mandate. Thus over the years, the SBP has earned a credibility of providing an independent feedback on the economy to its various stakeholders including the Government and the general public besides the international financial community.
I am happy to role that the bank's professionalism has been acknowledged by the international financial institution on a number of occasions. Only recently the present Governor of the Bank has been conferred upon the title of the best Central Bank Governor in Asia for 2008 by the reputed Bankers Magazine.
I am absolutely confident that the present team of professionals headed by the worthy Governor of the Bank is fully capable of meeting the challenges that lay ahead particularly with regard to conducting and implementing the monetary policy and regulatory functions. I extend my best wishes to the SBP and pray for its success in endeavours to foster economic growth and financial stability in the country.
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