Section 9: Board of Directors

5[9. Board of Directors.⸺(1) Subject to section 9D, oversight of the affairs and functions of the Bank shall be entrusted to the Board of Directors, which shall supervise the management and the Bank’s administration, operations and have the right of access to all the activities of the Bank. (2) The Board of Directors shall consist of⸺ (a) the Governor; (b) Secretary, Finance Division, Government of Pakistan without the right to vote; and (c) eight non-executive Directors, including at least one from each Province. (3) The Deputy Governors shall have the right to attend the Board meetings without the right to vote. (4) The Governor shall be the Chairperson of the Board. ln the Governor’s absence, the Board shall be chaired by the Deputy Governor in charge of the Board meeting agenda items: Provided that when the Deputy Governor chairs the Board meeting in absence of the Governor, the Deputy Governor shall have the right of casting vote. (5) The nonexecutive Directors shall be eminent professionals each of whom is well-known for his integrity, expertise, and experience in the fields of economics, financial services, banking, law, information technology, risk management or accountancy to perform the oversight. They shall have an advanced degree from a recognized university or hold professional accreditation, and relevant experience in any such fields, or not less than ten years.

Effective date: 1956-04-18

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