And poor risk management is ultimately a failure of internal governance. Although banking supervision and the regulation of banks' risk positions can go some way towards countering the effects of poor governance, supervision by some external official agency is not a substitute for sound corporate governance practices.
My predecessor, Ashraf Wathra, was declared best Central Bank Governor recently. Earlier, Dr. Shamshad Akhtar and Dr. Ishrat Hussain were also conferred with such prestigious awards. Similarly, SBP’s global partnerships with international organizations reached a new height during the tenure of Yaseen Anwar.