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Sunday, October 2, 2022

Jameel Ahmad appointed as State Bank of Pakistan governor for 5 years

According to a Finance Division announcement on Friday, the federal government has appointed Jameel Ahmad as Governor of the State Bank of Pakistan (SBP) for a term of five years, effective immediately.

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According to the notification, “Jameel Ahmad is appointed as Governor State Bank of Pakistan for a period of five (5) years with the approval of the President of Pakistan, upon the advice of Federal Authorities, and with immediate effect” in accordance with the authority granted under Part 11A (1) and Part 14(1) of the State Bank of Pakistan (SBP) Act 1956 (Amended 2022).

After Dr. Reza Baqir’s term as governor came to an end, the position became vacant. As acting governor, Dr. Murtaza Syed took responsibility for the office.

According to information available on the SBP website, Jameel Ahmad was in charge of the central bank’s deputy governor after being reappointed by the government on October 25, 2018, this time for a three-year term. From April 11, 2017, to October 15, 2018, he also held the position of Deputy Governor (Banking & FMRM).

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According to information on the SBP website, “Jameel Ahmad has an accomplished career as a completed central banker that spans over 30 years at multiple high posts on the State Bank of Pakistan and the Saudi Central Financial Institution (SAMA).”

His involvement with the SBP began in 1991, serving in a variety of roles, including Deputy Governor and Government Director.

He previously held the position of Government Director for the Monetary Stability Group and Banking Supervision. He has also held positions as group head for operations, banking regulations, improvement finance, and financial resource management. He began working for SAMA as an advisor in July 2009, a position he kept until April 2015.

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According to the SBP, “He has significantly contributed to establishing the policy and regulatory framework for the banking systems of Pakistan and Saudi Arabia as well as monitoring their monetary soundness and stability.”

Jameel was currently the Chairman of the Deposit Safety Company of Pakistan’s Board of Administrators.

“Jameel played a crucial role in the digitization of banking and money as well as in enabling fintechs to provide ground-breaking financial services in the country as Deputy Governor SBP.

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