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One of the most common criticisms of the World Bank has been the way it is governed. While the World Bank represents 188 countries, it is run by a small number of economically powerful countries. These countries (which also provide most of the institution's funding) choose the bank's leadership and senior management, and their interests dominate.
In 1997, then-PM Nawaz Sharif asked Tarin to turn around state-owned Habib Bank, for which he left the $1 million plus job in the United States. He, along with Zubyr Soomro at United Bank and Muhammad Mian Soomro at National Bank of Pakistan, were "successful in bringing the nationalised commercial banks (NCBs) back from virtual extinction." [7]
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
The World Bank Group is the globe's most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.
Pakistan, [e] officially the Islamic Republic of Pakistan, [f] is a country in South Asia. It is the fifth-most populous country, with a population of over 241.5 million, [g] having the second-largest Muslim population as of 2023. Islamabad is the nation's capital, while Karachi is its largest city and financial centre.
Shamshad Akhtar is a Pakistani development economist, United Nations diplomat, banker and politician who served as the caretaker finance minister of Pakistan from 2023 to 2024 as well as from 5 June 2018 to 18 August 2018.
The State Bank of Pakistan gained autonomy, and United Bank Limited, which had collapsed, was recapitalized under central bank management. [1] In 1997, Pakistan initiated banking reforms to address long-standing issues within major state-owned banks, such as the National Bank of Pakistan (NBP), Habib Bank Limited (HBL), and United Bank Limited ...
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]