Jameel Ahmed takes charge as SBP governor

KARACHI: State Bank of Pakistan's (SBP)  Governor Jameel Ahmed has assumed his charge as the head of the central bank for the next five years on August 26, the regulator announced on Twitter.

The incumbent governor was serving the Saudi Central Bank (SAMA) as a senior advisor from  December 2021 to August 2022. He assumed office following the completion of his notice period at SAMA.

Ahmed will be taking over the Governor's role from SBP's acting chief Dr Murtaza Syed, who was serving the central bank following the former governor Reza Baqir  since May 4.

According to the Finance Ministry, Jameel was appointed with the "approval of the president of Pakistan, upon the recommendation of the federal government, with immediate effect" on August 19.

His appointment was lauded by Finance Minister Miftah Ismail who took to Twitter to congratulate him.

Ahmad's illustrious career as an accomplished central banker, spans over 31 years at various senior positions at the State Bank of Pakistan and the SAMA, SBP shared in a statement.

The Governor's association with the central bank dates back to 1991, during which he served SBP in various capacities including Deputy Governor (April 2017 to October 2021) and Executive Director.

Ahmed initially served SAMA as an advisor during July 2009 to April 2015. During his term, he advised SAMA management on a broad range of policy matters in various central banking areas and coordinated on major transformation projects of Saudi Central Bank.

As a deputy governor at SBP, he has contributed his services in the departments of banking and financial markets and reserve management.

Ahmed has extensive experience of working at senior positions at the central bank earlier in areas of monetary policy and operations, treasury, banking policy and regulation, banking supervision, development finance, payment systems and financial resource management.

He has also served as member of the Monetary Policy Committee of SBP, chairman of the board of directors of Deposit Protection Corporation of Pakistan, member of the policy board of Securities and Exchange Commission of Pakistan, vice chairman of the board of directors of Pakistan Security Printing Corporation, member of board of directors of National Institute of Banking and Finance.

The incumbent governor completed his MBA from University of Punjab in 1988. He is a fellow member of the Institute of Cost and Management Accountants of Pakistan (FCMA) since 1994, fellow member of the Institute of Bankers Pakistan (FIBP) since 1993, and fellow member of the Institute of Corporate Secretaries of Pakistan (FCIS) since 1992.