Sbp report

JinnahUniversityFor
Women
Course
Macro Economics
Project
A Report On
“SBP Museum”
Report Prepared By
Baseera Hashmi
Course Instructor

Miss Urooj Ejaz
SBP: STATE BANK OF PAKISTAN
SBP MUSEUM

The rationale of the establishment of SBP Museum is to introduce first
Money Museum of Pakistan.
BJECTIVES OF THE SBP
MUSEUM
The Main objectives of theMuseumare to:
1) Preserve our culturalheritagethatexists in the form of the old SBP
Building and theacquisitions we havemade over time;
2) Provide an opportunitytothe generalpublic and especially the younger
generation tolearn about SBP's history, money and coins, monetary
policy and its evolving role over time;

3) Encourage thedevelopment of artistic talent in thecountry,
4) Establish a tradition of culturalexchangewith other museums around
theworld.
MAIN HALL
The Main Hall gives an overview about theevolution & function of Money &
Banking. ThehugeMain Hall display consist of originalprinting plates of
currency and prizebonds, old prizebond drawaldrums, Gulgee’s calligraphical
masterpieceand coin minting .Currency printingand banknotedefacing
machines. Thecenter of thehall is dedicated for temporary exhibition on
quarterly basis.
SBP MUSEUM GALLERIES
SBP Museumconsist of six Galleries
1) History of StateBank of Pakistan
2) SBP Governors
3) Coins Gallery - I & II
4) Currency Gallery
5) Stamp Gallery
6) Art Gallery
A. HISTORYOFSTATEBANK

The history of theStateBank Gallery is located on theextreme right of thehall.
This gallery is designed to give an overview of thehistory of SBP sinceits
establishment in 1948.Thedevelopment of Bank its role in the economy of
country. What is a monetary policy, role of a CentralBank its core functions etc.
are themain objectives of thedisplay.
The display of different notifications regardingtheissuanceof certain important
rules & regulations,theestablishmentof Banking system, issuanceof new
currency notes their policies, theneed for certain changes in theBanking system
documents aredisplay as well. Its development role in the
country.
The most interestingitems are thedocuments related tothe
distributionof assets & the cash at the time of Pakistan
1947.
The gallery also comprised of theintroductionof different
departments, thefunction of SBP, establishmentof
subsidiary offices, therelated departments, theissuanceof
PrizeBonds, Saving Certificates etc.
B. SBP GOVERNERSGALLERY
On the extreme left of the entranceis theGovernor’s
gallery. The main objective of this gallery is to display
profiles of different Governors of SBP sinceits
establishment. Theofficeof first Governor, Mr. Zahid
Hussain, has been recreated by decorating with furniture
used by him while he served the SBP, includingsome
personalbelonging of all theGovernors.
It is interesting tosee all the Governors tillto datealong with their brief profiles.

GOVERNORS PROFILES
Mr. Zahid Hussain
 Born in 1895.
 Studied at Lahore& Aligarh.
 He was awarded theIqbal Gold Medal& theMorison Medal.
 He reorganizedtheAnglo-Arabic Collegeand Schools in Delhi on a
Democratic bans in 1938.
 He was thefirst Treasureof the Delhi University.
 First Governor of StateBank of Pakistan.
 Also served as : FinancialAdvisor to the Chief Commissioner Delhi,
FinancialAdvisor in the supply Dept, The FinancialCommissioner of the
Railways, FinanceMinister in H.E.H. theNizam's Government of
Hyderabad Deccan from1945 to1947.
 First High Commissioner for Pakistan in India from August 1947toApril
1948.
Mr. Abdul Qadir
 Born in 1903 at Jallender

 Educated at Foreman Christian College, Lahore
 In 1950, hebecamethefirst Pakistanitobe appointed Secretary in the
Ministry of Finance, when he succeded his Victor Turner.
 Was the second Governor of StateBank of Pakistan
 Before partition, Mr. Qadir held several Administrative& Advisory
positions in the Government of India.
 He joined the Indian Audit & Accounts Services
 Spent about six years in the Accounts Officeat New Delhi, Nagpur &
Calcutta.
 He was transferred totheFinanceMinistry, Government of India in 1936 &
was selected for theFinance & CommerceCadre.
 He served as Income-Tax Commissioner for the Punjab, Delhi& NWFP
 After partition, hewas appointed as Joint Secretary in theMinistry of
Finance& later Chairman of CentralBoard of Revenue.
Mr. S.A. Hasnie
 Born in 1905
 He did his M.Sc (Hons) fromthe punjab University in 1927
 Prior to becoming thethird governor of SBP
 Served as under Secretary & then as Deputy Secretary, Ministry of Finance,
Govt. of India; Joint FinancialAdvisor, War & Supply & becamea
permanent Joint Secretary, Commerce;Joint Secretary,Commerce,
Secretary, and Ministries of Food & Agriculture& Economic Affairs,
Pakistan

 It was on his retirement in October 1958as FinanceSecretary, thathewas
appointed as Governor SBP.
 It was during his tenurethat SBP's newbuilding was inaugurated by Field
MarshalAyub Khan, on November 4th, 1961.
Mr. Mahbubur Raschid
 The Fourth Governor of SBP
 He was also the first career banker tohold the responsibleoffice of the
Governor, spending most of his career being associated with thebanking
sector since1939, holding responsibleexecutivepositions, which include
Deputy Managing Director,NationalBank of Pakistan in East Pakistan and
founding ManagingDirector of theIndustrialDevelopment Bank of
Pakistan.
 He was also awarded Tamgha-e-Pakistanin 1959,Sitara-e-Quaid-e-Azam
in 1964.
 A Graduatein Commerce& Arts fromU.K.
 Mr. Raschid made studies in banking system, Financialinstitutions toJapan,
Britain, Germany & Italy between 1961 to1967.
 After resigningas SBP Governor, he joined The Planning Commission, as
Deputy Chairman on July 1, 1971.

Mr. S.U. Durrani
 Born in 1928
 He studied at the Government College, Lahore.
 The Indian Military Academy, Dhera Dun, & graduated from
thePakistan Military Academy, Kakulin 1948.
 He took over as thefifth Governor of the SBP.
 Whose career in bankingstarted after hejoined Lloyds Bank
Limited in 1951, and worked in its branches in Karachi,
Lahore, Rawalpindiand Dacca.
 He has also been awarded Sitara-e-Khidmat in 1965, Sitara-
e-Quaid-e-Azamin 1969, Sitara-e-Pakistan in 1971 for his
services in the Army between 1948 & 1951
 He was also the recipient of theGrand Cordon of theOrder of
Independence(Class I) by theHashemite Kingdomof Jordon.
Mr. Ghulam Ishaq Khan
 Mr. Khan was born on January 20, 1915 at Dera Ismail Khan, Banu
(NWFP).

 He relinquished thechargeof the Governor on appointment as Secretary
General(Defence) to theGovernment of Pakistan on November 29, 1975.
 He took over as thesixth Governor of the SBP
 Before holding this post, he was theSecretary, CabinetDivision, in the
President's Secretariat.
 His prolific career includes various Governmentposts; some of the major
ones being Secreatry totheChief Minister, N.W.F.P., 1948;Development
Commissioner and also SecretarytoGovernment Development
Departments, 1953; Secretary, Anti-Corruption Committee, and alsoa
member of the FinancialAdvisory Committeeof theN.W.F.P. Government.
Mr. S. Osman Ali
 Mr. Ali graduated in Economics, entered theIndian CivilServicein 1934.
 He was the7th Governor of theStateBank of Pakistan.
 Prior to his appointment as Governor StateBank, heheld various positions,
some of the prominent ones being Federal Secretary in theMinistries of
Industries,Commerceof Economic Affairs from 1959 to1966, Executive
Director of the World Bank in Washingtonfrom1968-1972, Pakistan's
Ambassador to Belgium, EEC and Luxemburgfrom1966-1968.

Mr. A.G.N. Kazi
 Mr. Kazi relinquished officeas Governor of SBP on his appointment as
Deputy Chairman of theplanning Commission on July 9th, 1986.
 Prior to joining SBP, served in various capacities which includeAssistant
Controller, Hala Collector Thatta, AdditionalSecretary, Finance
Department, West Pakistan, Economic Minister for Pakistan at
Washington from(1962-1965), Chairman of theWater and Power
Development Authority, Secretary, Ministry of Finance& Secretary
GeneralFinance& Economic Affairs.
 Mr. Kazi was appointed Adviser for Finance& Economic Affairs to the
Chief MartialLaw Administrator on January 14th, 1978.
Mr. V.A. Jafarey
 Joined the Government Services on August 20th, 1948.
 His illustrious career includes severalimportant posts, including
Secretary, FinanceDepartment, East Pakistan, Secretary, Finance
Department, West Pakistan; Chairman Planningand Development Board,
West Pakistan; Secretary, Ministry of Commerce; Secretary,Ministryof
Industries,Fuel, Power & NaturalResources;Secretary,Planningdivision,
Ambassador of Pakistan toBelgium, LuxembourgEuropean Economic
Community, Brussels; Secretary General, Planningand Development
Division & Deputy Chairman, Planning Commission, besides holding
several consultancy assignments with theWorld Bank from time to time.

Mr. I.A. Hanfi
 Born in January 1929.
 He did Masters in 1952 in Economics fromKarachiUniversity.
 Mr. Imtiaz Alam Hanfi became thefirst CentralBank Officer tobe
appointed as SBP Governor.
 His association with theCentralBank dates to 1952, when hejoined as an
Officer Class - I, through an open competitiveexamination in which he
stood first in order of merit.
 He went on to become the Director in 1970, and by 1976 was promoted to
ExecutiveDirector.
 He was also sent on deputation tothe Pakistan IndustrialCredit &
Investment Corporation (PICIC) as its Managing Directorin October 1981
for a period of 3 years.
 He served for four years as the Deputy Governor of SBP, before his
appointment as Governor.
Mr. Kassim Parekh
 Mr. Parekh was born on January 31st, 1931.

 Mr. Kassim Parekh was Chairman of thePakistan Banking Councilwhen
he was called upon to act as Governor of SBP on September 5th, 1989,
during theleave of Mr. I.A. Hanfi.
 After Mr. Hanfi's resignation as Governor, Mr. Parekh was appointed SBP
Governor on March 13th, 1990. Being a banker hehad 40 years’
experienceof banking.
 He was President of Habib Bank Limited, & in December 1981, Chairman
of Banking Council, beforeappointed as Governor SBP.
Dr. Muhammad Yaqub
 Born on May 10, 1937.
 Dr. Yaqub did his Ph.D. in Economics from Princeton University in 1966,
M.A. Economics first from Punjab University in 1959& Second in 1965
from theYale University. Passed his B.A. from Punjab University in 1957.
 He started his career in the StateBank's Research Department as Research
Officer in 1960, promoted as Director in 1975.
 An Economist by Profession, he held several important positions in theIMF,
which he joined in 1972.
 After resigningfromtheIMF in 1992, hejoined theGovernment of
Pakistan as special Secretary /PrincipalEconomic Advisor in the Ministry
of Finance.
 Dr. Yaqub resigned as Governor SBP on November 5th 1999, on his
appointment as member of NationalSecurity Council.

Dr. Ishrat Husain
 Born on June17, 1941.
 Dr. Ishrat got his Master’s degreein Development Economics from
Williams College & Doctoratein Economics from Boston University.
 He is a graduateof the ExecutiveDevelopment Programjointly sponsored
by Harvard, Stanford & INSEAD.
 As thethirteenthgovernor of SBP, Dr. Ishrat Hussain served two terms in
theoffice.
 Before his appointment in SBP, he served as Director CentralAsian
Republics; Director, Poverty and SocialPolicy Department; Chairperson,
Public Sector Group; Chief Economist, East Asia and Pacific Region; Chief
of theDebt and FinanceDivision and Resident representative, Nigeria,for
World Bank.
 He served as the AdditionalDeputy Commissioner (development) in
Chittagong,Bangladesh.
 He was also a member of thePakistan's panel of economists for five-year
Development plans.

Dr. Shamshad Akhtar
 Born in Hyderabad.
 Dr. Akhtar got early education at Karachi& Islamabad, graduate of
University of Punjab, with B.A Economics, M.Sc. in Economics from
Quaid-e-AzamUniversity, Islamabad, M.ADevelopment
Economics,University of Sussex, 1977& Ph.D Economics, U.K.'s Paisley
College of Technology, 1980, Post-Doctoral Fellowship, Fulbright
Scholar, visiting fellowat Department of Economics, Harvard University,
1987.
 Dr. Shamshad Akhtar, thefourteenthgovernor of theSBP, is thefirst
woman to hold this post.
 Shebegan her career in ADB in 1990, & rose to theposition of Manager.
Before joining ADB, Dr. Akhtar worked for 10 years as Economist in World
Bank's Resident Mission Pakistan, worked briefly with planning offices of
federal & Sindh Govt.
Syed Salim Raza
 Syed SalimRaza took over as 15th Governor of theSBP on January 2, 2009.
 Mr. Raza brings tohis new assignment 36 years of inernational banking
experience. He had been with theCitibank, N.A. in various positions that
included COuntry and RegionalManagement across theMiddleEast,
Africa and theUK, Centraland Eastern Europe, based in London from 1989
to 2006.
 His business experiencecovers credit and corporatefinance, realestateand
globalasset (bonds & equities) management.

 He was also the COuntry Head for Citibank in Pakistan from1983 to1987.
Mr. Shahid Hafeez Kardar
 Mr. Shahid Hafiz Kardar assumed thechargeof the office of Governor,
StateBank of Pakistan for a period of threeyears with effect from 9th
September, 2010. Mr. Kardar, 58, an economist of reputeis the 16th
Governor of SBP sinceits inception in 1948.
 Mr. Kardar holds MA (with a major in Economics) from theUniversity of
Oxford and a Chartered Accountancy fromtheInstituteof Chartered
Accountants,Englandand Wales.
 He has authored threebooks namely “Reflections on Pakistan’s Economy”,
“The PoliticalEconomy of Pakistan” and “Polarization in theRegions: The
Roots of Discontent,” besides writing severalresearch papers covering
economic and social issues of the country.Hehas also led several projects
and studies on key socio-economic issues facing thecountry.
Mr. Yaseen Anwar
 The President of Pakistan has appointed Mr. Yaseen Anwar as Governor,
StateBank of Pakistan for a period of threeyears with effect from the date
he assumes the office, says a notificationissued by the Government of

Pakistan, FinanceDivision (InternalFinanceWing), Islamabad on October
19, 2011.
 He assumed thechargeof theoffice of Governor, StateBank of Pakistan on
October 20, 2011. Mr. Anwar is the17th Governor of SBP since its
inception in 1948.
 Prior to his appointment as SBP Governor, Mr. Yaseen Anwar was
appointed Acting Governor of the StateBank of Pakistan on July 18, 2011.
In this capacity, healso served SBP from June3, 2010 untilSeptember 8,
2010.
 Mr. Anwar has served theStateBank as its Deputy Governor since29th
March 2007, and managed allthefour clusters of the CentralBank.
C. COINS GALLERY
The Coin Gallery is divided intotwo parts (1) Pre Islamic and (2) Islamic till to the
contemporary period Coinage.
Pre Islamic:
StartingfromBarter system, seals used as coins by Indus valley people, Punch
Mark coins dated from 6th Century B.C., displaying somerarebar copper & silver
coins, IndoGreeks including a rarebronzecoin of Alexander theGreat and
several other unique coins, IndoScythians, IndoParthian,Kushans, Guptas, Indo
Sassanians, HinduShahis.

Islamic:
This part starts fromthecoinageof Arab Governors of Sindh, some rareSultanate
Coins, MughalCoins, later Mughals,British Indian,and then coinageafter 1947.
This includes a display of coin making techniques in Pakistan Mint,with some
originaldisplay of dies, theprocess of coin making along some tools, some old
machines, and a documentary coveringthewhole process of coin minting in
Pakistan Mint.
Thereare some interactivetechniques for embossing dye and some others.
PUNCHMARK INDO GREEK INDO SCYTHIAN
INDO PARTHIAN KUSHAN KUSHANO SASSANIAN
SHAHI KINGS OF ARABS IN SINDH SULTANS OF DELHI
KABUL & GANDHARA
MUGHALS DURRANIS SIKH RULERS
PRINCELY STATES BRITISH INDIA PAKISTANI
OF INDIA
D.CURRENCYGALLERY

The Currency Gallery of the Museumfeatures permanentdisplays regardingthe
history of Currency Notes in Pakistan and around theworld.
The Gallery includes thecomplete collection of Pakistanibanknotes sinceits
inception (1947-tilltodate) and shows how theobjects depicted on Currency
Note relate to theculture/historyof the country and its nation, includingsome
promenent and distinctivefeatures of it.
It also includes thecollection of historical, currentand polymer banknotes of
different countries around theworld.
Old Historical Banknotes Modern Banknotes
Polymer Banknotes Pakistani Banknotes
E. STAMPGALLERY

First ever postage stamp of Pakistan was issued on 9th July 1948 with themotif of
thecrescent and star with a leafy pattern. This specialpostagestamp was
designed by thewell-known Pakistaniartist A.R. Chaugtai& was approved by
Quaid-i-Azam. This stamp is one of thefour stamps that wereissued to mark the
first anniversary of independence.
Threeof thedesigns were notablesights (The First Constituent
Assembly building, KarachiAirport Entrance,& Lahore Fort
Gateway).
All thestamps carried theslogan “Pakistan Zindabad”(long live
Pakistan) – a form of prayer for the new born state.
All thestamps carried theslogan “Pakistan Zindabad”(long live Pakistan) – a
form of prayer for the new born state.
The stamps were inscribed “15th August 1947”becauseof the prevailing
confusion as to which datewas Pakistan’s actualdateof independence. It wasn't
untilearly 1949, that this confusionwas cleared by declaring 14 Augustas
IndependenceDay.
This set was printed in London by Thomas De La Rue Company as the Pakistan
did not haveits own printing press.

Over Print Definitive Postage Commemorative
Postage Stamps Stamps Postage stamps
Themetic Postage SouvenirMiniature Service Postage
Stamps Sheets Stamps
F. ART GALLERY

The Museumhas permanent, temporary displays. The
permanent displays arein the rooms, downstairs whilethe
Mezzaninefloor is declared as Art Gallery. During 1960's
Sadequain theworld renowned Artist/painter of Pakistan
worked closely with SBP and painted several Murals,
paintings, collages for theBank. The SBP has the honor of
being thecustodian of the same, the world famous Murals
"Holy Sinner" size 60' X 8' will be displayed alongwith other
works of Art by Sadequain in thehall and a room dedicated to
Sadequain.
The other room will be displaying theHistory of Art/Painting
in Pakistan. This is going to be temporary exhibition on
quarterly basis, with an objectiveto provide a cultural&
historic resourcefor lifelong learning & enrichment of
cultural lifeof the artists/painters.
The temporary exhibition programestablishes theart gallery
as a centreof excellence for the arts by providing exhibitions
of regional, national& internationalsignificance.
SADEQUAIN AT WORK

Sadequain was able to takethe Calligraphy tounprecedented heights,his
rebellious soul may be credited for it, rather than thelong standingfamily
tradition of calligraphy.
Like Ibn-e-Muqla’sachievement of bringingwritingtothe aesthetic perfection,
Sadequain took thecalligraphy tothenew frontiers of boldness, vibratingwith
life that is more enthrallingthan enchanting. His mixing of classicalKhats
(scripts) with his abstract styled writing infuseda new life in calligraphicarts in
thesubcontinent.
His experimentations in this field practically opened up new avenues, sensitizing
theart world to recognizecalligraphyas an art form. Burstingout with rendering
of forty individualpanels, of separaterefrains of mellifluous and beautifulverse
of Surah Rahmanin 1969, theuntiringartist flooded theart world with
innumerablerenderings, combining writingwith images, decoratingthewords
with bold strokes and exquisitecolors, mainly in shades of blue and ochre. World
of calligraphicarts haveacquired differentmeaning sinceSadequain. Someof his
interesting pieces areavailable in LahoreMuseum.
While calligraphy of Quranic verses was given a new vitality and life by
Sadequain, his usualscript in both English and Urdu was no less beautifuland
arresting.His collections of Rubaiyyat were all scripted and written in his own
hand with amazing sketches around them. His ordinary script was a work of art
itself. The StateBank of Pakistan publications wereadorned and beautified by
Sadequain simply writing thenameor heading in his uniqueartistic script. The
SBP Sadequain Gallery has some examples on display.
LIFE IN CHRONOLOGY
 1930 - Born in Amroha, UP, India
 1954 - First solo exhibition in Quetta
 1955 - Muralat Jinnah Hospital, exhibitions at FrereHall and residenceof
Mr. Suhrawardy

 1960 - Awarded “Tamgha-e-Imtiaz” and first prizein NationalExhibition
 1961 - Awarded “LaureatedeParis”
 1962 - President’s Medalof Honor,Mural at StateBank of Pakistan, and
exhibitions in France
 1963 - Visited USA, several exhibitions
 1964 - Illustrated “LeEtranger”
 1967 - Executed muralat Mangla Dam
 1968 - Executed muralat Punjab University Library
 1969 - Calligraphy of “Sura-e-Rehman”
 1973 - Murals in LahoreMuseum
 1974 - Exhibitions in Middle East and Eastern Europe
 1976 - T.V. Series "Mojiza-e-fun"
 1977 - Illustrated Ghalib
 1979 - Muralin Abu Dhabi
 1981 - Tour of India, murals at Aligarh, Banaras, Hyderabad,Delhi
 1985 - Illustrated Faiz Ahmad Faiz
 1986 - Muralat Frere Hall
 1987 - Died. Buried at SakhiHasan GraveYard Karachi.

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