KARACHI: The State Bank of Pakistan (SBP) will start issuing banknotes bearing the signature of new Governor Jameel Ahmad with effect from December 29, 2022, a statement from the central bank said on Wednesday.

It said that the currency notes will be issued from the offices of SBP Banking Services Corporation (BSC).

The banknotes bearing the signatures of his predecessors would continue to remain in circulation as legal tender, the statement added.

The central bank also announced that the field offices of SBP-BSC would remain open on Saturday to facilitate the public exchange of old design banknotes.

Jameel Ahmad was appointed SBP governor on August 19. He had previously served the bank as deputy governor and executive director.

The SBP had been without a full-time governor since Raza Baqir’s tenure ended in May 2022, after which Murtaza Syed took over as acting governor.

SBP profile, Jameel Ahmad’s career as a central banker spans over 31 years in various senior positions at the SBP 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 from April 2017 to October 2021 and executive director.

He served at SAMA as an adviser from July 2009 to April 2015 and as a senior adviser from December 2021 to August 2022. He advised SAMA management on a broad range of policy matters in various central banking areas and coordinated major transformation projects for the bank.

Ahmad did his MBA from the 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.