Board of Directors shall consist of the Governor (Chairperson), Secretary, Finance Division, Government of Pakistan without the right to vote, and eight Non-Executive Directors, including at least one from each Province.

MPC shall consist of ten members: Governor (Chairperson), three senior executives of the Bank to be nominated by the Governor, three members of the Board, to be nominated by the Board, and three external members to be appointed by the Federal Government, upon the recommendation by the Board.

As per SBP Act, 1956 (as amended), Executive Committee shall consist of the Governor, the Deputy Governors, Executive Directors, and as needed other senior officials. The Governor and the Deputy Governors shall have the right to vote on decisions taken by the Executive Committee. The Governor shall have the casting vote. Further, Executive Committee has the power to formulate policies related to the Bank's core functions as well as those related to administration and management matters, excluding those matters falling in the purview of the Monetary Policy Committee, or the Board of Directors.

Governor SBP is the Chief Executive Officer of the Bank and manages the affairs of the Bank on behalf of the Board. The Governor is appointed by the President of Pakistan, for a term of five years which is renewable once. The Governor is assisted by three Deputy Governors appointed by the Federal Government. A Deputy Governor is appointed for a term of five years which is renewable once. In addition to the Governor and Deputy Governors, the management hierarchy includes Executive Directors and Directors overseeing respective areas.