Anwar Ali (banker)
Anwar Ali | |
|---|---|
| Born | 1913 Dhaunkal Gujranwala |
| Died | 1974-11-05 Washington D.C., United States |
| Occupation | Economist |
| Years active | 1950s–1974 |
| Known for | Governor of the Saudi Arabian Monetary Agency (1958–1974) |
Anwar Ali (1913 – 5 November 1974) was a prominent Pakistani economist who served as the third governor of the Saudi Arabian Monetary Agency from 1958 until his passing in 1974. His career also encompassed significant positions within the finance ministries of both India and Pakistan, as well as a key role at the International Monetary Fund.
Biography
Ali was born in 1913 in Dhaunkal Gujranwala and completed his master's degree in Lahore. His early professional experience included serving as undersecretary in India's Ministry of Finance, advancing to deputy undersecretary in Pakistan’s Ministry of Finance, and acting as director of the National Bank of Pakistan.
In 1954, Ali relocated to the United States to join the International Monetary Fund (IMF) as director of its Middle East department, where he played an instrumental role in formulating Saudi Arabia’s governmental budget. On 11 October 1958, Crown Prince and Prime Minister Faisal appointed him to lead the Saudi Arabian Monetary Agency as its governor.
Throughout his leadership, Ali introduced annual financial reporting mechanisms and founded the agency’s investment division. Mohammed bin Faisal, Crown Prince Faisal’s son, served as his deputy until 1965. In March 1973, Ali became a member of the Supreme Council on Petroleum, established by King Faisal. During the 1973 oil crisis, he observed resistance within senior Saudi princes concerning the oil embargo due to fears over economic consequences.
Ali was married and had two children. After suffering a heart attack in 1972, he died at age 61 on 5 November 1974 while on an official trip to Washington D.C., where he held meetings with officials from the World Bank and IMF. His final resting place is in Medina, Saudi Arabia.
Following his death, Abdulaziz Al Quraishi succeeded him as governor, becoming the first Saudi national to hold this position.