Former governor of the State Bank of Pakistan (SBP) Kassim Parekh passed away, here on late Thursday night. Aaj News reported that his Namaz-e-Janaza will be offered at Jamia Masjid Bait-us-Salam in Defence Housing Authority Phase IV, after Friday prayers. Octogenarian Parekh was born in early 1931. Succeeding I A Hanafi, he served State Bank of Pakistan as its Governor for September 5, 1989 to August 30, 1990.
M Yaqub succeeded him as SBP governor. Parekh was a banking icon and known as Kassim Bhai among business and banking circles. He also served HBL as president. He was founding president of the Habib Metropolitan Bank (HMB), a subsidiary of Habib Bank AG Zurich.