State Bank of Pakistan (SBP) has appointed Syed Sohail Javaad as the Executive Director of Digital Financial Services Group, according to the official notification.
During his more than 20 years at SBP, Sohail has held various roles in technology and automation, policy/regulations and supervision, treasury, and market development.
Syed Sohail Javaad is a passionate advocate for using the potential of technology-based solutions to bring digital transformation and increase financial inclusion, reduce inequalities and empower communities. He has led the development of new regulatory regimes for non-bank market participants through Regulations for Electronic Money Institutions. He is also leading the work on innovation in digital financial services and fintech facilitation at SBP.
During his time in State Bank, Mr. Javaad has led key national payments and digital financial services infrastructure projects, including:
- Implementation of the core banking system in State Bank of Pakistan
- Implementation of Real-Time Gross Settlement System (RTGS);
- Development and implantation of Pakistan’s first National Payment Systems Strategy (NPSS) in collaboration with World Bank
- Development and implementation of Pakistan instant payment system – RAAST, in collaboration with Bill & Melinda Gates Foundation and Karandaaz Pakistan.
Mr. Sohail holds a Master’s in Applied Sciences (MASC) degree from the University of Waterloo, Canada, a Masters of Science (MSc.) degree in Statistics from the University of Karachi, and an MBA from the Institute of Business Administration (IBA), Karachi.