Jameel Ahmad appointed new governor of SBP

He has been appointed for a five-year term
<p>New State Bank of Pakistan Governor Jameel Ahmed.</p>

New State Bank of Pakistan Governor Jameel Ahmed.

Former central bank deputy governor Jameel Ahmed has been appointed as the new head of the State Bank of Pakistan, the government announced on Friday.

The announcement came after President Dr Arif Alvi approved his appointment.

A notification issued in this regard by the Finance Division on Friday morning said that he has been appointed for a five-year term.

Ahmed was picked from a roster of four names that also included interim-governor Dr Murtaza Syed, Asif Mairaj and Dr Saeed Ahmed.

Jameel Ahmad was the strongest contender among his peers.

The post had fallen vacant after Dr Reza Baqir completed his three-year term on May 4, 2022.

Who is Jameel Ahmed

Ahmed was first appointed SBP deputy governor (Banking & FMRM) in April 2017 for a one year period. In October 2018, he was reappointed as the deputy governor for another three year term.

Earlier he served as SBP Executive Driector Banking Supervision and Financial Stability Group and Group Head Operations, Banking Policy & Regulations.

His career as an accomplished central banker spans over 30 years at 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.

He joined SAMA in July 2009 as an Advisor, a position he held until April, 2015.

He has contributed significantly in formulating the policy and regulatory framework for the banking systems of Pakistan and Saudi Arabia and monitoring their financial soundness and stability, according to a profile available at the State Bank of Pakistan website.

Before being appointed SBP governor Jameel Ahmed was serving as Chairman of the Board of Directors of Deposit Protection Corporation of Pakistan.

He is the Vice Chairman and member of the Board of Directors of Pakistan Security Printing Corporation and National Institute of Banking & Finance.

He is also a member of the Policy Board of Securities & Exchange Commission of Pakistan, National Council of Institute of Cost & Management Accountants of Pakistan and Senior Management Committees of SBP including its Monetary Policy Committee.

He also served as member of Board of Directors of the Institute of Corporate Governance of Pakistan and Chairman of the Verification Committee constituted under the Corporate & Industrial Restructuring Corporation (CIRC) Ordinance of Pakistan, and Member / Secretary of the Task Force on Combating Counterfeiting of Currency Notes and Government Bills constituted by the Prime Minister of Pakistan.

He represented SBP on many other national and international committees /fora including Financial Stability Board (FSB)’s Correspondent Banking Coordination Group and was a member of the Basel Committee on Banking Supervision (BCBS)‘s Task Force on Prudential Treatment of Assets. He was also a member of the IFSB’s Technical Committee and its working Groups on Risk Management, Supervisory Review Process, Capital Adequacy and Determination of Alpha Factor.

As Deputy Governor SBP, Jameel played an instrumental role in digitization of banking and payments as well enablement of fintechs for offering innovative financial services in the country. 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.

He also oversaw the development and issuance of Pakistan’s National Payment Systems Strategy developed jointly by SBP and the World Bank.

During his association with the Saudi Central Bank, Jameel represented SAMA on many high profile working groups / task forces of the BCBS including its Large Exposures Group, High Level Task Force on Sovereign Exposures, Task Force on Prudential Treatment of Assets and Supervision & Implementation Group.

He also represented SAMA on FSB Compensation Monitoring Group, G20 Task Force on Financial Safety Nets, IFSB Working Group on Capital Adequacy and IFSB Task Force on PSIFIs.

Jameel Ahmad did his MBA from University of Punjab in 1988 and is a Fellow Member of the Institute of Cost & 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.

He also won two gold medals and two certificates of merit for his distinguished achievements during academic/professional studies. 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.

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