New SBP Governor Jameel Ahmad Assumes Charge

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Jameel Ahmad has assumed the charge of Governor, State Bank of Pakistan, after his appointment by the President of Pakistan.

Ahmad assumed the charge of State Bank of Pakistan Governor on August 26, 2022, after his appointment for a period of 5 years.

The post fell vacant on May 4 after former SBP Governor Reza Baqir’s term expired and the coalition government decided against extending his tenure.

Following his exit, Dr Murtaza Syed, the senior-most deputy governor of the central bank, assumed the office as acting governor.

The new governor’s career, as an accomplished central banker, spans over 31 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 and he served the bank in various capacities including Deputy Governor (April 2017 to October 2021) and Executive Director. He served at SAMA as Advisor from July 2009 to April 2015 and as Senior Advisor from December 2021 to August 2022. He advised SAMA management on a broad range of policy matters in various central banking areas and coordinated major transformation projects of the Saudi Central Bank.

As Deputy Governor (Banking and Financial Markets & Reserve Management) at SBP, he transformed the bank supervision system by introducing risk-based methodology, issuing and implementing the latest international Basel capital adequacy standards, issuing a modern-age digital banking framework, establishing depositors’ protection scheme, strengthened bank resolution regime, launched Pakistan’s first retail payments gateway and took other policy and regulatory initiatives.

He has extensive experience of working in senior positions at SBP in the areas of Monetary Policy and Operations, Treasury, Banking Policy & Regulation, Banking Supervision, Development Finance, Payment Systems and Financial Resource Management. He also contributed to the development of many international standards at various global forums including working groups of the Basel Committee on Banking Supervision (BCBS), Financial Stability Board (FSB), Islamic Financial Services Board (IFSB), etc. while representing SAMA and SBP.

Ahmad has served as a 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 & 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 & Finance.

He 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.



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