Dr. ISHRAT HUSAIN

Dean and Director
Institute of Business Administration (IBA)
Karachi

Ishrat Husain joined the elite Civil Service of Pakistan in 1964 and served in the field and also held mid-level policy making positions in the Finance, Planning and Development Departments before moving to Washington in 1979 to join the World Bank as an Economist in West Africa Programs Department. He became the Bank’s Resident Representative to Nigeria in 1983 and led the Bank’s team that assisted Nigeria in formulating its first ever structural Adjustment program in 1986. On his return to headquarters, he headed the Bank’s Debt and International Finance Division and contributed to the development of Bank’s strategy that led to World Bank and IMF’s participation in the Brady Initiative for Debt Reduction. As Chief Economist for Africa between 1991-94 and later as Chief Economist for East Asia and Pacific Region he guided and supervised the Bank’s analytical work on the countries in these regions. In 1997 he was named the Country Director for Central Asian Republics and managed the World Bank’s relations, programs and policies with these countries.

                        Ishrat Husain was selected by President Musharaf in December 1999 to become the Governor of Pakistan’s Central Bank. During the next six years, he implemented a major program of restructuring of the Central Bank and steered the reforms of the banking sector, which are now recognized by the World Bank and IMF to be among the best in developing countries. As a member of the economic management team of the Government, he played a key role in the impressive economic turnaround of Pakistan. In recognition of his meritorious services he was conferred the prestigious award of “Hilal-e-Imtiaz” by the President of Pakistan in 2003. The Banker Magazine of London declared him as the Central Bank Governor of the year for Asia in 2005. He received the Asian Banker Lifetime achievement award in 2006.

                        He was appointed the Chairman, National Commission on May 3, 2006 with the status of Federal Minister and held that position for two years reporting directly to the President and Prime Minister of Pakistan. The Commission produced a two volume report on governance reforms in Pakistan. On March 12, 2008 he took over the charge of the office of the Dean and Director, IBA, Karachi – the oldest graduate business school in Asia. During 2005-06 he was appointed a member of a three person panel to evaluate the IEO and was also a member of the Mahathir Commission 2020 vision for the Islamic Development Bank (IDB). He also advised the IDB for creating its poverty reduction fund. He is currently a member of the Independent Advisory Committee of the IDB.
                                               
                        Mr. Husain has maintained an active scholarly interest in development issues. He has authored 12 books and monographs and contributed more than two dozen articles in refereed journals and 15 chapters in books on the issues of Debt, Adjustment, African Development and Poverty and Pakistan’s economy. He is regularly invited as a speaker to international conferences and seminars and has attended more than 100 such events all over the world so far. He is the Distinguished National Professor of Economics and Public Policy and serves on the Boards of several research institutes, philanthropic and cultural organizations.

            Ishrat Husain obtained Master’s degree in Development Economics from Williams College and Doctorate in Economics from Boston University in 1978. He is a graduate of Executive Development program jointly sponsored by Harvard, Stanford and INSEAD.