The Board of Directors of Silkbank has appointed Shahram Raza Bakhtiari as the new President and CEO of the Bank.

The bank in its filing to the Pakistan Stock Exchange (PSX) on Wednesday informed that Bakhtiari, who has been leading the Retail Banking would replace Azmat Tarin.

Tarin, after serving the Bank for 12 years as President and CEO, has decided to step down upon expiry of his contract in August 2020.

The Board of Directors while accepting Tarin’s resignation ‘greatly appreciated’ the significant contribution he made to further the interest of the Bank.

The Bank further said that Bakhtiari appointment is subject to approval from the State Bank of Pakistan and compliance with all applicable laws, rules and regulations.

Furthermore, in pursuant to the FTP clearance received from SBP, Rehan Sheikh has assumed the charge of his office as the new CEO/Director of Standard Chartered Bank.