Anwar Ali (banker)

Anwar Ali (1913–5 November 1974) was a Pakistani economist who was the third governor of the Saudi Arabian Monetary Agency.[1] He headed the agency from 1958 to his death in 1974. Ali also held several positions at the ministry of finance in India and Pakistan and at the International Monetary Fund.

Anwar Ali
Governor of the Saudi Arabian Monetary Agency
In office
11 October 1958 – 5 November 1974
Succeeded byAbdulaziz Al Quraishi
Personal details
Born1913
Died5 November 1974 (aged 60–61)
Washington D.C.
Resting placeMedina, Saudi Arabia

Biography

Ali was born in 1913 in India into a Muslim family.[1][2] He settled in Pakistan and became a Pakistani national.[1] He received a master's degree in Lahore.[3] He served as the undersecretary in the Ministry of Finance in India, deputy undersecretary in the Ministry of Finance in Pakistan and director of the National Bank in Pakistan.[3]

Then Ali settled in the United States.[1] He joined the International Monetary Fund (IMF) in 1954.[4] Immediately after his employment he was named as the director of the Middle East department of the IMF.[5][3] In this capacity he involved in the preparation of the budget of the Saudi government.[6]

Ali left the IMF in 1958 and was appointed by Crown Prince and Prime Minister Faisal as the governor of the Saudi Arabian Monetary Agency on 11 October that year.[7][8] Ali developed annual report systems and established the investment department of the agency.[9][10] One of his deputies at the agency was Mohammed bin Faisal, a son of Crown Prince Faisal, from the late 1950s to August 1965.[11] Ali was appointed a member of the Supreme Council on Petroleum in March 1973 when it was established by King Faisal.[12] During the oil crisis the same year Ali reported that some senior Saudi princes did not support the oil embargo due to its potential harmful effects on Saudi Arabia.[13]

Ali was married and the father of two,[4] a daughter and a son.[5] He had a heart attack in 1972.[5] He died at age 61 during an official visit on 5 November 1974 in Washington D.C. following a heart attack in late October.[4] There he met with the officials of the World Bank and the International Monetary Fund.[1][4] Ali was buried in Medina, Saudi Arabia.[5]

Ali's successor as governor of the Saudi Arabian Monetary Agency was Abdulaziz Al Quraishi, the first Saudi to head the agency.[1][14]

References
  1. Ahmed Banafe; Rory Macleod (2017). The Saudi Arabian Monetary Agency, 1952-2016. Cham: Palgrave Macmillan. p. 301. doi:10.1007/978-3-319-55218-7. ISBN 978-3-319-55217-0.
  2. Arthur N. Young (Autumn 1960). "Financial Reforms in Saudi Arabia". The Middle East Journal. 14 (4): 466–469. JSTOR 4323291.
  3. Thomas W. Shea (January–February 1969). "The Riyal. A Miracle In Money". Aramco World. Vol. 20, no. 1.
  4. "Anwar Ali, Monetary Chief for Saudi Arabia, Dies at 61". The New York Times. Washington DC. 6 November 1974. Retrieved 14 March 2021.
  5. "Mr Anwar Ali". The Times. No. 59238. 7 November 1974. p. 18. Retrieved 17 June 2023.
  6. "Saudi Arabia's Economic Difficulties". The Times. No. 54134. Jeddah. 25 April 1958. Retrieved 17 June 2023.
  7. "Chronology 1958". The Middle East Journal. 13 (1): 93. Winter 1959. JSTOR 4323086.
  8. Abdullah Hamad Al Salamah (April 1994). Employee Perceptions in Multinational Companies: A Case Study of the Saudi Arabian Basic Industries Corporation (PhD thesis). University of Durham.
  9. "Pakistanis in the development of Saudi Arabia — a page in history". Saudi Gazette. 23 March 2018. Retrieved 14 March 2021.
  10. David G. Edens; William P. Snavely (Winter 1970). "Planning for Economic Development in Saudi Arabia". The Middle East Journal. 24 (1): 17–30. JSTOR 4324550.
  11. Gary Samuel Samore (1984). Royal Family Politics in Saudi Arabia (1953-1982) (PhD thesis). Harvard University. p. 254. ProQuest 303295482.
  12. Nizar Obaid Madani (1977). The Islamic Content of the Foreign Policy of Saudi Arabia. King Faisal's Call for Islamic Solidarity 1965-1975 (PhD thesis). American University. p. 55. ProQuest 302841281.
  13. Samuel E. Willner (2023). Preserving the Saudi Monarchy. Political Pragmatism in Saudi Arabia, c.1973-1979. Cham: Palgrave Macmillan. p. 77. doi:10.1007/978-3-031-30006-6. ISBN 978-3-031-30006-6. S2CID 259196372.
  14. "SAMA History". Saudi Central Bank. Retrieved 14 March 2021.
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