ISLAMABAD: The government on Friday appointed Jameel Ahmad as Governor of the State Bank of Pakistan (SBP) for a term of five years, with immediate effect, according to Finance Division notification.
“In exercise of powers conferred under Section 11A (1) read with Section 14(1) of the State Bank of Pakistan (SBP) Act 1956 (Amended 2022), Jameel Ahmad is appointed as Governor State Bank of Pakistan for a term of five (5) years with the approval of the President of Pakistan, upon the recommendation of Federal Government, with immediate effect,” read the notification.
— SBP (@StateBank_Pak) April 11, 2017
The position of the governor fell vacant in May after the end of Dr Reza Baqir’s tenure. Dr Murtaza Syed assumed responsibility of the role as acting Governor.
The appointment comes ahead of the monetary policy announcement that is set to take place on August 22 (Monday).
As per information available on the SBP website, Jameel Ahmad was serving as the central bank’s Deputy Governor after being reappointed by the government on October 25, 2018 for a period of three years. He also served as Deputy Governor (Banking & FMRM) from April 11, 2017 to October 15, 2018.
“Jameel Ahmad has an illustrious career as an accomplished central banker span over 30 years at various senior positions at the State Bank of Pakistan and the Saudi Central Bank (SAMA),” read information available on the SBP website.
His association with the SBP dates back to 1991 in various capacities including Deputy Governor and Executive Director.
Prior to his appointment as Deputy Governor, he was serving as Executive Director, Banking Supervision and Financial Stability Group. He has also served as Group Head Operations, Banking Policy & Regulations, Development Finance and Financial Resource Management. He joined SAMA in July 2009 as an Advisor, a position he held until April, 2015.
“He supervised the formulation and issuance of Regulations for E-money Institutions in Pakistan. He also served as the Chairman of Steering Committees on the implementations of Raast, Pakistan’s instant payment system; digital banking regulations and SBP’s Knowledge Management System. He also oversaw the development and issuance of Pakistan’s National Payment Systems Strategy developed jointly by SBP and the World Bank.”
He also won two gold medals and two certificates of merit for his distinguished achievements during academic/professional studies.