The federal government on Friday finally appointed Mr Jameel Ahmad as the new governor of State Bank of Pakistan (SBP) for next five years. He was previously working as the SBP deputy governor. Jameel Ahmad’s appointment has been made on the recommendation of the Federal Cabinet and approved by the President of Pakistan Mr Arif Alvi. Finance Minister Miftah Ismail greeted Ahmad on his appointment.
Finance Division issued the notification which is to be implemented with immediate effect. Jameel Ahmad replaced Dr Reza Baqir who served in the same capacity for three years till May 04, 2022. During the transition period, Dr Murtaza Syed served the central bank as acting governor.
He previously served as the deputy speaker of SBP
Jameed Ahmad is a renowned and recognized banker with more than 31 years of experience in banking sector. Before his appointment as the deputy governor, he served as group head of the Operations, Banking Policy & Regulations department, the Development Finance department and the Financial Resource Management department at SBP.
In year 2017, he was appointed as the deputy governor where he worked in the Banking and FMRM from April 11, 2017 to October 15, 2018. On Oct 25, 2018 he was trusted again and was directed to continue his services as the deputy governor for another three-year term. In addition, he also served at the Saudi Arabian Monetary Agency (SAMA).
He has played a significant role in the formulation of policy and regulatory framework for the banking systems of Pakistan and Saudi Arabia and monitoring their financial soundness and stability, according to the State bank’s website.
Finance Minister Miftah Ismail greeted Ahmad on his appointment
He also led the formulation and issuance of regulations for Electronic Money Institutions in Pakistan. In addition to all this, he also worked as the chairman of steering committees for implementing “RAASt”, an instant payments system; digital banking regulations; and SBP’s Knowledge Management System. He also looked after the development and issuance of Pakistan’s national payment systems strategy which was jointly formulated by SBP and the World Bank.
On education side, Jameel Ahmad completed his MBA from the University of Punjab in 1988. He has been a fellow member (FCMA) of the Institute of Cost & Management Accountants of Pakistan (ICMAP) since 1994, a fellow member of the Institute of Bankers Pakistan (IBP) since 1993 and a fellow member of Institute of Corporate Secretaries of Pakistan since 1992.