You are currently viewing Bank Association Elects New Chairman After Finance Minister Departure

Bank Association Elects New Chairman After Finance Minister Departure

KARACHI, Pakistan (AP) – The Pakistan Banks’ Association (PBA) announced Wednesday that Zafar Masud, President & CEO of The Bank of Punjab, has been elected as the new Chairman following the departure of the previous chairman to become the country’s Finance Minister.

The changes came after Muhammad Aurangzeb, the former PBA Chairman, assumed the role of Federal Minister of Finance and Revenue for Pakistan earlier this month. The PBA Executive Committee met and unanimously selected the following new leadership:

  • Chairman: Zafar Masud (formerly Senior Vice Chairman)
  • Senior Vice Chairman: Yousaf Hussain, President & CEO of Faysal Bank (formerly Vice Chairman)
  • Vice Chairman: Ahmed Khan Bozai, Managing Director & Citi Country Officer at Citibank N.A., Pakistan

The association expressed confidence that under the new leadership, it will continue effectively representing the banking sector by nurturing close stakeholder relationships, including with the State Bank of Pakistan. Priorities will include enhancing technology and digital capabilities, maintaining compliance standards, increasing financial inclusion, and facilitating growth of SMEs, middle markets, and financing for critical infrastructure projects.

Read More: IMF Pushes for Taxing E-Commerce Platforms in Pakistan

PBA thanked the outgoing chairman Aurangzeb for his contributions and said it is confident the new chairman Masud and executive committee will guide the organization towards greater achievements.

Leave a Reply