The federal government has appointed Muhammad Ali Malik as a Deputy Governor of the State Bank of Pakistan (SBP), with his five-year tenure taking effect immediately.

The Finance Division issued the appointment notification on Monday under Section 11A(2) of the State Bank of Pakistan Act, 1956, as amended in 2022.

Malik’s appointment was approved for a fixed term of five years, according to the notification issued by the division’s Internal Finance Wing.

The notification was signed by Deputy Secretary Amna Shabbir.

As Deputy Governor, Malik joins the SBP leadership at a time when the central bank remains focused on monetary policy, banking-sector oversight and maintaining financial stability.