August 19, 2022 (MLN): The federal government on Friday appointed Mr Jameel Ahmad as the governor of the State Bank of Pakistan (SBP) for a period of five years with immediate effect.
"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), Mr 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," the notification issued by Finance Division read.
Previously, he was serving as the Deputy Governor of the central bank, and during his tenure at SBP, Mr Jameel has played an instrumental role in the digitization of banking and payments as well enablement of fintech for offering innovative financial services in the country.
Jameel Ahmad was reappointed as Deputy Governor by the Federal 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.
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.
Mr Jameel Ahmad’s illustrious career as an accomplished central banker spans over 30 years in various senior positions at the State Bank of Pakistan and the Saudi Central Bank (SAMA). His association with the SBP dates back to 1991 in various capacities including Deputy Governor and Executive Director.
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 has contributed significantly to formulating the policy and regulatory framework for the banking systems of Pakistan and Saudi Arabia and monitoring their financial soundness and stability.
Mr Jameel Ahmad did his MBA from the University of Punjab in 1988 and is a Fellow Member of the Institute of Cost & Management Accountants of Pakistan (FCMA) since 1994, a Fellow Member of the Institute of Bankers Pakistan (FIBP) since 1993 and a Fellow Member of the Institute of Corporate Secretaries of Pakistan (FCIS) since 1992.
He also won two gold medals and two certificates of merit for his distinguished achievements during academic/professional studies, as per the details available on SBP's website.
He also received extensive on-the-job training in Banking Supervision under a World Bank Project during 1998 – 99 that included short attachments with various US regulatory Agencies.
Some of the other training courses he attended include courses at Toronto Centre for Leadership in Banking Supervision, Centre for Central Banking Studies of Bank of England, IMF Training Institute, SEACEN Centre, Office of the Superintendent of Financial Institutions Canada, and the BIS Financial Stability Institute, Switzerland.
To note, after the completion of Dr Reza Baqir's tenure in May 2022, as SBP governor, the coalition government has almost taken three months to appoint the SBP chief.
Meanwhile, Deputy Governor Murtaza Syed assumed the position of the central bank's acting governor.
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Posted on:2022-08-19T12:07:58+05:00
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