Prime Minister Shehbaz Sharif has banned dual nationals from serving as governor, deputy governors, and members of the Monetary Policy Committee at the State Bank of Pakistan (SBP). This decision comes despite a unanimous recommendation from a cabinet committee that advocated lifting the restriction through an amendment to the SBP Act, according to the Express Tribune.
The federal cabinet postponed approval of the State Bank of Pakistan Amendment Bill 2024 for a second time last week following the prime minister’s intervention. Shehbaz Sharif opposed any relaxation of the existing ban, which was first imposed in 2022.
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This dual-nationality restriction was initially introduced through IMF-influenced amendments to the SBP Act in January 2022, although the IMF did not specifically demand it. Notably, Finance Minister Muhammad Aurangzeb supported allowing dual nationals to hold positions at the SBP.
Meanwhile, the Senate Standing Committee on Cabinet is considering a bill that would prohibit civil servants from holding dual nationality. Additionally, the cabinet has tasked a Planning Minister–led committee with reviewing the proposed amendments further, including whether exemptions should be granted to candidates and if similar restrictions should be extended to other government organizations.
