Jameel Ahmed appointed as Governor SBP for five years

Islamabad: The government has appointed Jameel Ahmad as Governor of the State Bank of Pakistan (SBP) for a term of five years, with immediate effect, read a Finance Division notification on Friday.

“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, with immediate effect,” read the notification.

The position of the governor fell vacant in May after the end of Dr Reza Baqir's tenure. Dr Murtaza Syed assumed responsibility of the role as acting Governor.

The appointment comes ahead of the monetary policy announcement that is set to take place on August 22 (Monday).

Ahmad, a seasoned banker with more than 26 years of experience, has previously served as the central bank's deputy governor. He was appointed on October 25, 2018 for a period of three years. He also served as Deputy Governor (Banking & FMRM) from April 11, 2017 to October 15, 2018.