ISLAMABAD: Dr Murtaza Syed, the senior-most Deputy Governor of the State Bank of Pakistan (SBP), on Friday took over as acting  Governor of the central bank.

He has over 20 years of macroeconomic research and policymaking experience.

Dr Murtaza Syed also spent 16 years at the International Monetary Fund before resigning to join the State Bank of Pakistan.

Dr Reza Baqir, the ex-Governor of the State Bank of Pakistan, completed his term on Wednesday.

Earlier, the incumbent government has decided not to extend the tenure of Reza Baqir as State Bank of Pakistan’s governor.

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Finance Minister Miftah Ismail in a tweet said Reza Baqir was an exceptionally qualified man and he wanted to thank him for his service to Pakistan.

“Tomorrow Governor SBP Dr Reza Baquir’s 3-year expires. I have spoken to him and told him of the government’s decision. I want to thank Reza for his service to Pakistan. He is an exceptionally qualified man & we worked well during our brief time together. I wish him the very best,” Miftah Ismail tweeted.