services Library Payment systems Real time gross settlement system (RTGS system) Small and medium enterprises Training and Development Department (TDD) Treasury operations Strategic and corporate planning Microfinance Pakistan remittance initiative Remittances Information Systems and Technology Department Risk Management Department Currency Management Strategy Commercial banks are allowed by State Bank of Pakistan (SBP) to outsource their cash processing functions that includes sorting, authentication and packing of banknotes to cash processing companies. Governor The principal officer of the SBP is the Governor. Board of Directors The Board (previously known as the Central Board) consists of ten members: the Governor (who is Chairman), the Secretary, Finance Division, Government of Pakistan – and eight Directors, including one Director from each Province, to be nominated by the Federal Government. The Directors (and the Governor) are appointed for a term of three years. Traditionally, these directors (other than Secretary, Finance Division) are re-appointed for a second term, though this is not a requirement of the law, and there have been a few exceptions to this practice. The current Board of Directors consists of the following (there being two vacancies): Murtaza Syed (Acting Governor SBP) Arif Ahmed Khan (Secretary Finance) Tariq Hassan Hafiz Mohammad Yousaf Zubyr Soomro Khawaja Iqbal Hassan Ardeshir Khursheed Marker Bairum Khan Sarmad Amin Laiba Sengsy Museum See also Governor of State Bank of Pakistan National Bank of Pakistan EXIM Bank of Pakistan Zarai Taraqiati Bank Limited Pakistani Rupee Banking in Pakistan Raast 1LINK References External links State Bank of Pakistan Pakistan Financial regulation in Pakistan Financial regulatory authorities of Pakistan Pakistani companies established in 1948 Banks established in 1948 Pakistan federal departments and agencies Government agencies established in 1948 Companies based in Karachi Banking in Pakistan