Askari Bank’s Zia Ijaz gets FPT clearance from State Bank

The State Bank of Pakistan (SBP) has cleared the Fit & Proper Test (FPT) for Zia Ijaz as President and Chief Executive Officer (CEO) of Askari Bank Limited (AKBL).

AKBL disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.

“In continuation of our letter dated January 24, 2025, it is hereby informed that the State Bank of Pakistan has granted Fit and Proper Test (FPT) clearance to Zia Ijaz, as President & CEO of Askari Bank Limited,” read the notice.

Ijaz will assume the charge w.e.f. Monday, February 17, 2025, added the notice.

Last month, the Board of Directors (BoD) of AKBL appointed Ijaz as President and CEO for a three-year term.

AKBL back then shared the appointment was subject to clearance of Ijaz’s FPT from the central bank and compliance with all applicable laws, rules and regulations in this regard.

Ijaz has over 30 years of diversified banking experience. Prior to his banking career, he was associated with Ford Rhodes Sidat Hyder & Co. (a member of Ernst & Young).

Before joining Askari Bank, Ijaz served as Deputy CEO of UBL Limited and Head of Branch Banking and International Business Groups, at UBL.

Moreover, prior to joining UBL, Ijaz served Allied Bank (ABL) for over 12 years in various leading roles (CFO, Group Chief, Commercial & Retail Banking & Group Chief, Operations).

Incorporated as a public limited company in Pakistan in 1991, AKBL, the subsidiary of Fauji Foundation, offers conventional, corporate, Islamic, consumer, and agricultural banking services through its wide network of 560 branches and sub-branches across the country.