On Friday, the federal government appointed Jameel Ahmad governor of the State Bank of Pakistan (SBP) for a five-year term.
The notification from the Finance Division stated: “Jameel Ahmad is appointed Governor of the State Bank of Pakistan for a five-year term, with the approval of the president of Pakistan, upon the recommendation of the federal government, with immediate effect.”
Ahmad, a senior banker with over 26 years of experience, previously served as deputy governor of the central bank.
Finance Minister Miftah Ismail congratulated Ahmed on his nomination.
Ahmad’s predecessor, Dr.Reza Baqir, had a three-year term that expired on May 4, after which Dr.Murtaza Syed became interim governor.
Ahmad held the position of Deputy Governor of the SBP (Banks and FMRM) from April 11, 2017, until October 15, 2018. He later became Deputy Governor for a three-year term on October 25, 2018.
Ahmad served as SBP’s Deputy Governor (Banks and FMRM) from April 11, 2017, to October 15, 2018. He was subsequently appointed Deputy Governor for a three-year term effective October 25, 2018.
Before he was appointed Deputy Governor, he was Group Head of Operations, Banking Policy & Regulations department, the Development Finance department, and the Financial Resource Management department.
He has also served at the Saudi Arabian Monetary Agency (SAMA).
He has made a significant contribution to the formulation of the policy and regulatory framework of the banking systems of Pakistan and Saudi Arabia and the supervision of their financial soundness and stability, according to the central bank’s website.
He oversaw the development and issuance of regulations for electronic money institutions in Pakistan. He also chaired the steering committees on the implementation of Raast, an instant payment system, digital banking regulations, and SBP’s knowledge management system. He also oversaw the development and implementation of Pakistan’s national payments systems strategy, which was co-developed by the SBP and the World Bank.
Ahmad completed his master’s degree in business administration from Punjab University in 1988. He has been a member of the Institute of Cost & Management Accountants of Pakistan since 1994, as well as a member of the Institute of Pakistan Bankers since 1993 and a member of the Institute of Corporate Secretaries of Pakistan from 1992 to the present.