Newly-Appointed SBP Governor Assumes Charge.

ISLAMABAD -- Jameel Ahmad has assumed the charge of Governor, State Bank of Pakistan (SBP), after his appointment by the President of Pakistan for a period of 5 years.

The federal government in last week had appointed Jameel Ahmed as Governor SBP. 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 Ahmed 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 position of governor SBP was fell vacant on May 4 after Dr Reza Baqir completed his tenure. The coalition government had refused to give extension to Dr Reza. The federal government had appointed Governor SBP after three and half months. According to SBP, Mr 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 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 to SAMA as Advisor during 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 on major transformation projects of Saudi Central Bank.

As Deputy Governor (Banking and Financial Markets and Reserve Management) at SBP, Mr Jameel Ahmad transformed the bank supervision system by introducing risk-based methodology, issued and implemented latest international Basel capital adequacy standards, issued...