Shaukat Tarin is a senior banker who is currently serving as Finance Minister of Pakistan in the Yousaf Raza Gillani-led government. Appointed to this position as an adviser to the government on 7 October 2008, he was elected as a senator from Sindh on 27 July 2009, thereafter being elevated to the post of finance minister of Pakistan.

Contents 1 Banking career 2 Finance Minister 3 References 4 External links

[edit] Banking career

Tarin is an ethnic Pashtun from Punjab. He has a long experience in banking industry and had remained as the country head of Citibank in Thailand, and president of Habib Bank and Union Bank in Pakistan.^[1] As the president of the Union Bank, Tarin was associated with the acquisition by Standard Chartered PLC of a 95.37% interest in Union Bank in September 2006. The amount paid was USD487mn, in cash.^[2].

Tarin has also been elected twice as chairman of Karachi Stock Exchange (KSE), the last one being in the year 2008.^[3] Later however, due to rules of the regulatory requirements of Securities and Exchange Commission of Pakistan (SECP) and KSE, he had to quit his second tenure of chairmanship of the KSE to join Saudi-Pak Commercial Bank as President. Tarin-led consortium of foreign investors had acquired recently the Saudi-Pak Commercial Bank (SPCB) (now called Silkbank).^[4]

Tarin was a major stakeholder of SPCB and formed a consortium, along with senior banker Sadeq Sayeed, International Finance Corporation (IFC), BankMuscat, Nomura Holdings and Sinthos Capital to acquire an 86.55% stake in SPCB from Saudi Pak Industrial And Agricultural Investment Co. Ltd. for USD213mn in cash on March 31, 2008.^[5]

[edit] Finance Minister

Tarin was appointed adviser to the Prime Minister on Finance with a status of federal minister by Government of Pakistan on the 7 October, 2008.^[1] Immediately prior to being appointed to the Cabinet, Tarin was serving as the President of Saudi-Pak Commercial Bank. Later on 27 July 2009, he was elected senator unopposed from Sindh. This paved his way to formally take charge of the Ministry of Finance.^[6] As such, he heads the Executive Committee of the National Economic Council (NEC) and the Economic Coordination Committee (ECC).^[1]

[edit] References

[edit] External links

• Ministry of Finance

Political offices
Preceded by Naveed Qamar	Finance Minister of Pakistan 2008 – present	Succeeded by Incumbent