KARACHI: Zafar Masud, President & CEO of The Bank of Punjab (BOP), has been elected as the new Chairman of the Pakistan Banks’ Association (PBA).

This change is subsequent to Muhammad Aurangzeb, the sitting PBA Chairman, assuming the role of Federal Minister of Finance and Revenue for Pakistan earlier this month. To effect this change, the PBA Executive Committee (EC) met and unanimously elected the PBA’s sitting Senior Vice Chairman Zafar Masud as Chairman of the Association.

In addition, PBA’s sitting Vice Chairman, Yousaf Hussain President & CEO Faysal Bank has been elected as Senior Vice Chairman, while Member of the Executive Committee, Ahmed Khan Bozai, Managing Director & Citi Country Officer – Citibank N.A., Pakistan has been elected as the new Vice Chairman of the Association.

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The Association firmly believes that, under the new leadership, it will continue to effectively represent the banking sector through further nurturing close relationships with all the key stakeholders, including the State Bank of Pakistan.

It will increase its focus on aligning banks to further build up the technology & digital framework, maintain the highest compliance standards, and play a strong role in increasing financial inclusion. Additionally, it will coordinate with banks to facilitate the growth of Small and Medium Enterprises (SMEs), middle markets, and financing of large infrastructure& industrial projects deemed critical for the country.

PBA expresses its gratitude to Muhammad Aurangzeb for his significant contributions during his tenure as Chairman PBA and is confident that its new Chairman, Zafar Masud, and the Executive Committee, will continue to guide the organization towards greater achievements and significant milestones.

Copyright Business Recorder, 2024