Govt appoints Jameel Ahmad as State Bank’s new governor

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Jameel Ahmad State Bank

Islamabad: The federal government on Friday appointed Jameel Ahmad as the new governor of the State Bank of Pakistan.

A notification was issued by the Ministry of Finance that notified the appointment of Jameel Ahmad for five years upon receiving approval of the President of Pakistan.

“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), Jameel Ahmad 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,” the notification read.

The coveted position of the SBP’s governor had remained vacant since May 4, when Raza Baqir left the office on the completion of his tenure.

After his exit, Dr Murtaza Syed assumed the office as an acting governor.

Last month, it surfaced that the federal government was considering a list of six names, including Jameel Ahmad, for the SBP’s governorship.

The newly-appointer governor, a seasoned banker with more than 26 years of experience, has previously served as the central bank’s deputy governor.

“He has also served as Group Head, Operations, Banking Policy & Regulations, Development Finance, and Financial Resource Management,” a statement from the SBP read.

Jameel Ahmad’s illustrious career as an accomplished central banker span over 26 years, working at senior positions at the State Bank of Pakistan and the Saudi Arabian Monetary Agency (SAMA), the statement further read.

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