KARACHI: Pakistan named Jameel Ahmad, a deputy governor of the State Bank of Pakistan (SBP), as the central bank’s new governor on Friday, appointing him for a five-year term.
The Pakistani central bank had been without a full-time governor since May and one of Ahmad’s first tasks will be to chair a monetary policy meeting to consider its policy rate.
Ahmad’s career spans more than 30 years in various positions at the State Bank of Pakistan and the Saudi Central Bank, the country’s central bank said in a profile on its website.
Among these included his stint as a member of the central bank’s Monetary Policy Committee. Ahmad was also the chairman of the Board of Directors of Deposit Protection Corporation of Pakistan.
During his career, Ahmad also coordinated with various ministries and represented the central bank in various parliamentary committees including the Senate and National Assembly committees.
According to the State Bank of Pakistan, Ahmad has significant contributions to his credit in formulating the policy and regulatory framework for the banking systems of Pakistan and Saudi Arabia and monitoring their financial soundness and stability.
As a deputy SBP governor, Ahmad played an instrumental role in the digitization of banking and payments as well in the enabling of financial technology services, the bank said.
Prior to his appointment as deputy governor of the Pakistani central bank in 2018, he was executive director of its Banking Supervision and Financial Stability Group.
Pakistan picks State Bank, Saudi Central Bank veteran Jameel Ahmad as new governor
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Pakistan picks State Bank, Saudi Central Bank veteran Jameel Ahmad as new governor
- Pakistan’s central bank has been without a governor since May
- New central bank governor will serve a five-year term
Pakistan nears $1.5 billion deal to supply weapons, jets to Sudan
- Deal may include drones, air defense systems and Karakoram-8 aircraft, with possible JF-17 fighters
- The sale is expected to bolster Sudan’s army in the ongoing civil war with the Rapid Support Forces
ISLAMABAD: Pakistan is in the final phases of striking a $1.5-billion deal to supply weapons and jets to Sudan, a former top air force official and three sources said, promising a major boost for Sudan’s army, battling the paramilitary Rapid Support Forces.
Their conflict has stoked the world’s worst humanitarian crisis for more than 2-1/2 years, drawing in myriad foreign interests, and threatening to fragment the strategic Red Sea country, a major gold producer.
The deal with Pakistan encompasses 10 Karakoram-8 light attack aircraft, more than 200 drones for scouting and kamikaze attacks, and advanced air defense systems, said two of the three sources with knowledge of the matter, who all sought anonymity.
It was a “done deal,” said Aamir Masood, a retired Pakistani air marshal who continues to be briefed on air force matters.
Besides the Karakoram-8 jets, it includes Super Mushshak training aircraft, and perhaps some coveted JF-17 fighters developed jointly with China and produced in Pakistan, he added, without giving figures or a delivery schedule.
Pakistan’s military and its defense ministry did not immediately respond to requests for comment.
A spokesman for Sudan’s army did not immediately respond to a message requesting comment.
Assistance from Pakistan, especially drones and jets, could help Sudan’s army regain the air supremacy it had toward the start of its war with the RSF, which has increasingly used drones to gain territory, eroding the army’s position.
PAKISTAN’S DEFENSE AMBITIONS
The deal is another feather in the cap for Pakistan’s growing defense sector, which has drawn growing interest and investment, particularly since its jets were deployed in a conflict with India last year.
Last month, Islamabad struck a weapons deal worth more than $4 billion with the Libyan National Army, officials said, for one of the South Asian nation’s largest arms sales, which includes JF-17 fighter jets and training aircraft.
Pakistan has also held talks with Bangladesh on a defense deal that could includes the Super Mushshak training jets and JF-17s, as ties improve ties with Dhaka.
The government sees Pakistan’s burgeoning industry as a catalyst to secure long-term economic stability.
Pakistan is now in a $7-billion IMF program, following a short-term deal to avert a sovereign default in 2023. It won IMF support after Saudi Arabia and other Gulf allies provided financial and deposit rollovers.
