Syed Sohail Javaad
As the Director of Payment Systems Department of State Bank of Pakistan (SBP, the Central Bank), Syed Sohail Javaad is responsible for creating development strategies and regulatory policies around technology innovation in digital financial services to better manage risks, enhance efficiency and strengthen competitiveness in the financial and payment services sector. During his more than 20 years at SBP, Sohail has held various roles in technology and automation, policy/regulations and supervision, treasury and market development. He is a passionate advocate for using the potential of technology-based solutions to bring digital transformation and increase financial inclusion, reduce inequalities and empower communities. He has led the development of new regulatory regimes for non-bank market participants through Regulations for Electronic Money Institutions. He is also leading the work on innovation in digital financial services and fintech facilitation at SBP. During his time in State Bank, Mr. Javaad has led key national payments and digital financial services infrastructure projects including:
– implementation of core banking system in State Bank of Pakistan
– implementation of Real Time Gross Settlement System (RTGS);
– development and implantation of Pakistan’s first National Payment Systems Strategy (NPSS) in collaboration with World Bank
– development and implementation of Pakistan instant payment system – RAAST, in collaboration with Bill & Melinda Gates Foundation and Karandaaz Pakistan.
Mr. Sohail holds a Masters in Applied Sciences (MASC) degree from University of Waterloo, Canada, a Masters of Science (MSc.) degree in Statistics from University of Karachi, and an MBA from Institute of Business Administration (IBA), Karachi.