Pakistan, Aug. 11 -- The federal government has appointed Muhammad Ali Malik as Deputy Governor of the State Bank of Pakistan for five years.

According to a Finance Division notification issued Monday, Malik's appointment takes effect immediately. The appointment was made under the State Bank of Pakistan Act.

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The notification cited Section 11A(2) of the State Bank of Pakistan Act, 1956. The provision was amended under legislation introduced in 2022.

Malik will serve as deputy governor for a five-year term under the federal government's appointment. The Finance Division formally issued the notification confirming his appointment.

The State Bank oversees Pakistan's monetary policy, b...