Director (OG-7) jobs at State Bank of Pakistan (SBP) 2024

@ Islamic Finance Policy Department, State Bank of Pakistan (SBP)

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Job Industry:
Job Type:
Experience Level:
Senior Level
Submissions begins on:
Job Posted at:
2024-02-11 17:31:05
Submission Deadline:
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Female Quota:
Minority Quota:
Age Limit:
50 years (max)
Place(s) of Posting:
Location Type:
Physical / On-site
Applicant Location:
Pakistan (Country)
Country of Appointment:
Employer Department:
Islamic Finance Policy Department
Employer Contact Email:
Employer Contact Phone:
021-34546930, 051-8444441
Employer Address:
State Bank of Pakistan
I.I. Chundrigar Road Karachi Pakistan.
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State Bank of Pakistan
Excellent Career Opportunities

State Bank of Pakistan (SBP) is looking for an adept Islamic Finance professional to head the Islamic Finance Policy Department (IFPD) as its Director and steer the Islamic finance policy function in the SBP. This is a senior management position based in Karachi.

Director IFPD will be reporting to the Executive Director - Islamic Finance Group and will be responsible to:

• Review, develop and fortify the Islamic finance legal, regulatory and policy framework in line with Shariah principles.
• Collaborate and partner with the Islamic finance industry for development of innovative Islamic finance products including participatory and risk sharing products for meeting the financial services needs of the industry, businesses with particular focus on agriculture and rural sector.
• Collaborate and partner with the Islamic finance industry for development of robust risk management strategies to identify, assess and mitigate the risks associated with Islamic finance products and services particularly the risk sharing products.
• Lead and oversee the development of asset light, Musharakah and other risk sharing Sukuk of different maturities including short term Sukuk.
• Develop, coach and counsel the Islamic Finance professionals’ teams to steer the development of Islamic finance industry in conformity with Shariah principles in letter and spirit.
• Collaborate and partner with the Islamic finance industry for developing innovative products and rollout strategies to increase the outreach of Islamic finance to underserved segments of the economy.
• Initiate meaningful and objective research projects on Islamic finance trends and global market developments to effect policy adjustments and enhance competitiveness.
• Foster relationships with key stakeholders, including regulatory bodies, financial institutions, and Shariah scholars, to garner support and input for effective policy formulation and implementation.
• Collaborate and partner with Islamic Finance Development Department and other SBP Departments to lead and steer transformation of conventional banking into Islamic banking.
• Establish key performance indicators (KPIs) and regularly monitor the performance of Islamic banking operations against set targets.
• Promote a culture of ethical governance within the Islamic Banking industry emphasizing transparency, fairness, and integrity in all dealings.
• Identify opportunities for expanding the Islamic Banking market, both domestically and internationally, while considering regulatory and cultural nuances.
• Develop framework for adoption of prudential, Shariah, accounting, governance, financial reporting standards, etc. issued by the leading international and domestic standard setting bodies like Islamic Financial Services Board (IFSB), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), International Islamic Financial Market (IIFM) and Institute of Chartered Accountants of Pakistan (ICAP), etc.
• Stay abreast of technological advancements and promote the integration of modern technologies in Islamic banking operations to enhance efficiency and customer experience.

• Competitive market based compensation package backed by attractive salary and well-rounded benefits structure as per State Bank’s rules.

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• Master’s or Bachelor’s degree (with a minimum of 16 years of education) in Finance/ Islamic Finance/Banking from a HEC recognized university or foreign university. Professional qualification or Diploma in Islamic banking/ Shariah/ Fiqh ul Muamlat would be preferred.

• Maximum 50 years, as on the date of advertisement.

• At least 15 years of experience including at least 5 years in senior management position in Islamic Banking.

Employment Type:

  • This job offered by State Bank of Pakistan (SBP) is a Full-Time position. The possible benefits of Full-time positions include: Stability, Growth, and More

  • Applications begins on:

  • The interested candidates/ job seekers can apply for the post of Director (OG-7) at State Bank of Pakistan (SBP) from February 11, 2024
  • .

    Last Date to Apply:

  • The last date to apply for the post of Director (OG-7) at State Bank of Pakistan (SBP) is February 26, 2024.

  • How To Apply:

    Interested candidates fulfilling the stated eligibility criteria may submit their applications online on Last date to apply is February 26, 2024.

    Applications, which are not in accordance with defined requirements in the advertisement, will not be entertained. Only shortlisted candidates will be contacted.
    We are an Equal Opportunity Employer. Females, candidates from minorities, transgender persons and persons with disability are encouraged to apply

    Any candidate who misinforms, attempts to influence the recruitment process in any manner, tries to obtain support for his/her candidature by inappropriate means or tampers with evidence of his/her age, educational and other certificates, shall be disqualified from the current and any future recruitment process at the Bank; even if he/she is otherwise eligible.

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    About State Bank of Pakistan (SBP)

    The State Bank of Pakistan (SBP) is incorporated under the State Bank of Pakistan Act, 1956, which gives the Bank the authority to function as the central bank of the country. The SBP Act mandates the Bank to regulate the monetary and credit system of Pakistan and to foster its growth in the best national interest with a view to securing monetary stability and fuller utilization of the country’s productive resources.

    Subsidiaries of the SBP
    The SBP holds “three” fully owned subsidiaries to augment its functions. These are:

    SBP-Banking Services Corporation (SBP-BSC)
    Established under the SBP-BSC Ordinance 2001, SBP-BSC supports SBP in performing functions such as handling of currency and credit management, facilitating the inter-bank settlement system, and sale/purchase of savings instruments of the Government on behalf of Central Directorate of National Savings. SBP-BSC also collects revenue and makes payments for and on behalf of the Government. It also carries out operational work relating to development finance, management of public debt, foreign exchange operations and export refinance. The Board of Directors of SBP-BSC, chaired by the Governor SBP, comprises of all members of the Central Board of SBP and the Managing Director of SBP-BSC.

    SBP-BSC consists of 16 field offices in Pakistan with the head office in Karachi.

    National Institute of Banking and Finance (NIBAF)
    NIBAF is the training arm of SBP, providing executive development trainings to new inductees and various levels of SBP employees. The subsidiary also conducts international courses on central and commercial banking in collaboration with the federal Government. Furthermore, NIBAF offers training to SBP-BSC and other financial institutions. NIBAF is incorporated under Companies Ordinance, 1984 and has a separate Board of Directors.

    NIBAF is located in Islamabad with an office in Karachi.

    Deposit Protection Corporation (DPC)
    Deposit Protection Corporation (DPC) has been established as a wholly owned subsidiary of SBP under the DPC Act 2016. Upon commencement, this entity will be responsible to provide protection of deposits of member financial institutions operating in Pakistan. The objective of DPC is to compensate the depositors to the extent of protected deposits in the event of failure of a member Financial Institution. The limit of protected deposits shall be determined by DPC and will be announced in due course.
    For the purpose of protecting depositors of Islamic Banks and branches, a separate Shariah compliant mechanism of deposit protection shall be put in place.

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