KARACHI: State Bank of Pakistan (SBP) on Wednesday announced that it will issue bank notes with signature of new central bank governor Jameel Ahmad from December 29, 2022.
Jameel Ahmad assumed the charge of Governor State Bank of Pakistan on August 26, 2022, after his appointment by the President of Pakistan for a period of five years.
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In a statement the central bank said it will start issuing banknotes bearing the signature of SBP Governor, Jameel Ahmad with effect from December 29, 2022 from the offices of SBP Banking Services Corporation.
The banknotes bearing the signatures of his predecessors will continue to remain in circulation as legal tender.
According to the SBP Jameel 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).
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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 & Reserve Management) at SBP, Jameel Ahmad transformed the bank supervision system by introducing risk-based methodology, issued and implemented latest international Basel capital adequacy standards, issued modern-age digital banking framework, established depositors’ protection scheme, strengthened bank resolution regime, launched Pakistan’s first retail payments gateway and took many other policy and regulatory initiatives.
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Jameel Ahmad has extensive experience of working at senior positions at SBP in areas of Monetary Policy and Operations, Treasury, Banking Policy & Regulation, Banking Supervision, Development Finance, Payment Systems and Financial Resource Management.
He also contributed in 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.
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Ahmad has served as 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.
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.
