The federal authorities on Friday appointed Jameel Ahmad as the brand new governor of the State Financial institution of Pakistan (SBP). He was beforehand the central financial institution’s deputy governor.
“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,” a Finance Division notification learn.
Federal Authorities appoints Mr. Jameel Ahmad as Deputy Governor SBPDetails:https://t.co/IN57dHOpwh pic.twitter.com/CIcoMPgr5E
— SBP (@StateBank_Pak) April 11, 2017
The put up fell vacant in Could after former SBP governor Reza Baqir’s time period expired and the coalition authorities determined towards extending his tenure additional.
Following Baqir’s exit, Murtaza Syed, being the senior-most deputy governor, assumed the place of the State Financial institution of Pakistan’s appearing governor.
Finance Minister congratulated the newly-appointed governor and welcomed him again.
Final month, the Ministry of Finance moved the official abstract to Prime Minister’s Workplace and proposed an inventory of six candidates — together with Ahmad, Saeed Ahmed, former president Nationwide Financial institution of Pakistan, Asim Hussain, former IMF official, Syed Murtaza, deputy governor SBP, and Zafar Masud, President Financial institution of Punjab, and Ashraf Khan, former Governor SBP.
Jameel Ahmad — a quick profile
Jameel Ahmad was reappointed as deputy governor of the SBP by the federal authorities on October 25, 2018, for a interval of three years. He additionally served as deputy governor (Banking & FMRM) from April 11, 2017, to October 15, 2018.
In line with his SBP profile, he has performed an instrumental function within the digitisation of banking and funds in addition to the enablement of fintech for providing revolutionary monetary companies within the nation.
He supervised the formulation and issuance of Laws for E-money Establishments in Pakistan. He additionally served because the chairman of steering committees on the implementations of Raast, Pakistan’s immediate fee system; digital banking rules and SBP’s Information Administration System.
He additionally oversaw the event and issuance of Pakistan’s Nationwide Cost Techniques Technique developed collectively by SBP and the World Financial institution.
Throughout his affiliation with the Saudi Central Financial institution, Ahmad represented SAMA on a number of high-profile working teams/activity forces of the BCBS together with its Massive Exposures Group, Excessive-Stage Job Drive on Sovereign Exposures, and Job Drive on Prudential Therapy of Belongings and Supervision & Implementation Group.
Ahmad did his MBA from the College of Punjab in 1988 and is a Fellow Member of the Institute of Price and Administration Accountants of Pakistan (FCMA) since 1994, Fellow Member of the Institute of Bankers Pakistan (FIBP) since 1993, and Fellow Member of the Institute of Company Secretaries of Pakistan (FCIS) since 1992.
He additionally received two gold medals and two certificates of advantage for his distinguished achievements throughout educational/skilled research. He additionally obtained intensive on-the-job coaching in Banking Supervision beneath a World Financial institution Mission throughout 1998-99 that included brief attachments with numerous US regulatory Businesses.