Walsh frustrated Akbar's advances as the Olympic bronze medallist secured himself at least a bronze as he advanced to the last four of the light middleweight category.
It was a bout that would have been good enough for the final after Akbar was crowned European champion while Walsh is also a Commonwealth Games silver medallist.
Walsh controlled the tempo of the bout well and took victory with three of the five judges scoring the fight in his favour. The bout was halted temporarily at the end of the second round after an accidental clash of heads left Walsh with an open wound.
Akbar reflected: “I thought I won the fight. I thought I was landing the better shots and looking more like I wanted to be in there but the five judges are the most important people in the world and whatever they see, that’s what they judge.
“I’m disappointed, of course, but not every decision can go your way. That’s all it was, a clash of styles. I wanted to work a bit more, but he wanted to run a bit more.
“The kid [Walsh] just didn’t want to engage. From the get-go he was on his back foot but it is what it is and I wish him the best for the rest of the tournament.”
On what’s next: “I’m going to go back to the drawing board. I’ll have a couple of weeks off and go back to GB Boxing, talk to Rob McCracken and see what’s happening next.”
Elsewhere, the dream is over for Jodie Wilkinson.
The 27-year-old former rugby league player from Castleford, who works part-time for the Yorkshire ambulance service, was beaten on a points decision by Northern Ireland's Eireann Nugent in the light-middleweight division on Wednesday night.
Considering she still only fights part-time at the GB Boxing academy in Sheffield, the Commonwealth Games have been an invaluable experience for Wilkinson.
"It's been absolutely brilliant. To have all these people in the crowd, cheering for you it's just unbelievable. It does help a lot so thanks to everyone that's come today," she said.
On the fight, Wilkinson added: "First round, I caught her with a jab and I thought, I've got this.
“Second round, I felt a little bit drained and I couldn't get my shots off. As soon I got it back to my long boxing it was working. She was just jumping straight on me and that's what won it I guess."