Prime Minister Shehbaz Sharif halted a proposal to permit dual nationals to be governors, deputy governors, and members of the State Bank of Pakistan (SBP) ‘s monetary policy committee.
Sources confirmed that despite a cabinet committee’s unanimous support, Sharif deferred the State Bank of Pakistan Amendment Bill 2024 on February 25, 2025.
A committee, led by Planning Minister Ahsan Iqbal, recommended deleting Section 13A of the SBP Act, which bars dual nationals from key roles. Finance Minister Muhammad Aurangzeb backed the change, citing the need for specialists like ex-deputy governor Dr. Inayat Husain, a dual national whose term ended November 8, 2024.
Sharif opposed the amendment, upholding a 2022 ban influenced by the IMF—though not explicitly required by them. Current laws also block dual nationals from Parliament, mirroring SBP restrictions. Without Sharif’s approval, Husain faces exclusion despite his expertise.
Read: PIC Orders SBP to Disclose Employees with Dual Nationality
The finance ministry’s bill aimed to lift the dual nationality ban and legalize cryptocurrencies, but cabinet objections highlighted loyalty concerns. The Iqbal-led body now reviews whether to tweak the SBP Act or extend restrictions across government roles, balancing merit and national allegiance.
