Govt appoints Muhammad Ali Malik as Deputy Governor SBP

August 10, 2026 (MLN): The Federal Government has appointed central bank veteran Mr. Muhammad Ali Malik as the Deputy Governor of the State Bank of Pakistan (SBP) for a five-year term, effective immediately.

According to an official notification issued by the Finance Division (Internal Finance Wing), Ministry of Finance, Government of Pakistan, dated August 10, 2026 (Notification F.No. 3(1) Bkg-1/2023-25):

"In exercise of powers conferred under Section 11A(2) of the State Bank of Pakistan Act, 1956 (Amended 2022), the Federal Government is pleased to appoint Mr. Muhammad Ali Malik as Deputy Governor, State Bank of Pakistan (SBP) for a period of five years with immediate effect."

Professional Background

Mr Muhammad Ali Malik brings decades of deep institutional knowledge and expertise in monetary policy, market operations, and central banking governance to his new role.

Prior to his elevation to Deputy Governor, he served as Executive Director at the central bank, where he actively contributed to key executive committees, including the Monetary Policy Committee (MPC).

Throughout his distinguished career at the SBP, he also held the critical position of Director for the Domestic Markets and Monetary Management Department. In this capacity, he oversaw liquidity management, government securities, and the regulation of domestic money markets.

Beyond domestic affairs, Mr. Malik has frequently represented Pakistan on international platforms, such as the Intergovernmental Group of Twenty-Four (G24) meetings in Washington.

His contributions have been pivotal in driving reforms aimed at diversifying settlement mechanisms, supporting currency swap arrangements, and establishing supportive frameworks for local currency trade settlements.

Educational Qualifications

Mr. Muhammad Ali Malik's executive leadership is grounded in a strong academic foundation in finance, economics, and quantitative disciplines.

He earned his Master of Business Administration (M.B.A.) in Finance from the prestigious Institute of Business Administration (IBA), Karachi, completing his degree between 1985 and 1989.His earlier schooling was equally rigorous.

He completed his A-Levels at Karachi Grammar School from 1983 to 1985, focusing on Mathematics, Economics, Physics, and English.

Prior to that, he completed his foundational schooling and O-Levels at Habib Public School from 1975 to 1983, covering a broad subject range including Additional Mathematics, Mathematics, Physics, Chemistry, English Literature, English, and Urdu.

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