Former SBP Governor Shahid Hafiz Kardar said that he resigned over governments policies, a private TV channel reported Friday. He said Owing to continuing differences of opinion on policy matters and on the implementation of certain directions that I, in my best judgement, did not consider to be prudent or consistent with the integrity of the bank, I am constrained to offer my resignation. All the decisions were taken to safeguard the integrity of the bank, to ensure prudent conduct of monetary policy and to maintain the safety, soundness and stability of the banking system, he added. He said For these reasons and, more importantly, to avoid possible paralysis in economic decision making in these difficult times for our nation, the only honourable course for me is to leave my position. Erum Zaidi from Karachi adds: The resignation of the Governor State Bank of Pakistan, Shahid Kardar has not been accepted by the President Asif Ali Zardari yet though three days have passed since the news surfaced of his resignation in the media. Contradictory reports have been circulating in media regarding the acceptance of central bank governors resignation. However, when this scribe contacted, a source in the Ministry of Finance said that Kardar had submitted his resignation to the President of Pakistan, but the President office has not taken any decision on his resignation so far. Not a single directive has been issued by the President office till date about the appointment of Yasin Anwar, who is the Deputy Governor SBP, as Acting Governor, he said adding that once the resignation gets accepted by the presidency, then the Ministry will be able to notify the SBP and the general public that Deputy is becoming Acting Governor SBP or not. Whether the president has accepted SBP Governors resignation or not, the fact is that the central bank, which is the highly credible economic and financial institution of the country, has been left in lurch at a crucial time that is not a positive signal for Pakistans economy. Moreover, the SBP chiefs departure sending negative signals to the international lending agencies and foreign investors, affecting their confidence about the economic growth, financial stability and the conduciveness of business environment in the country. According to the media reports, Kardar had resigned from his post due to having major differences with the higher economic authorities on key policy issues. Kardar is the third senior policy maker to quit in Pakistan in less than one and half year, following previous central bank governor Salim Razas resignation in June 2010 and former finance minister Shaukat Tarins resignation in February last year. Central bank governors normally serve three-year terms. There was no reason given for his resignation. The central bank chief spokesman said he was unable to confirm the resignation. Kardar joined as the central bank governor in September 2010, after the previous governor Salim Raza stepped down for personal reasons in June 2010.