The newly appointed President Zarai Tarqiati Bank Limited (ZTBL) Adnan Ghani, who is a foreign national, has not assumed charge almost 45 days after cabinet''s approval, well informed sources told Business Recorder. The name of Adnan Ghani was initially not included by the Central Bank in the panel of professional bankers. His credentials, were, however, re-assessed on the insistence of the Finance Ministry after which his name was included in the panel.
The Bank is functioning without any Board for the last two years due to which heavy penalties have been imposed for non compliance. In addition all the administrative affairs of the banks are being carried out on ad hoc basis by the acting President. The sources said, SECP has issued reminders to ZTBL for submission of returns and financial statements. SECP has adopted a lenient approach as ZTBL is not a listed company and owned by government. The appointment of BoD is the responsibility of Finance Ministry.
An insider told this scribe that Mr. Adnan Ghani has also applied for the slot of President Punjab Bank which offers a far better package as compared to ZTBL, adding probably Mr. Ghani is interested in Punjab Bank. "If Mr Ghani opts for the Punjab Bank''s CEO position , the second contender may be offered the position ," he added.
The post of President/CEO, ZTBL was advertised in the national newspapers on November 11, 2018. In response to the advertisement, 74 applications were received which were scrutinized by a committee headed by Finance Secretary. After assessment of CVs and credentials of all the candidates on the basis of their educational background, quality, relevance, diversity and eminence of their experience, the committee short-listed candidates for consideration of the selection committee.
According to sources, selection committee, comprising Minister for Finance, Asad Umar, Advisor to Prime Minister on Institutional Reforms and Austerity, Dr Ishrat Hussain, former Secretary Finance, Arif Ahmed Khan and Secretary Establishment, Dr Ijaz Munir interviewed six candidates, both in person and through a video-link, while two candidates did not appear for interview due to personal reasons. The committee unanimously recommended the following panel of three persons, in order of the merit, for appointment against the post of President/CEO ZTBL, under the Banks (Nationalization) Act, 1974: (i) Adnan Ghani; (ii) Shahbaz Jameel; and (iii) Sheikh Aman Ullah.
The State Bank of Pakistan (SBP) has also been consulted in terms of section 11(3)(a) of the Banks (Nationalization) Act, 1974. Adnan Ghani has also declared that he has dual nationality. He possesses nationality of United Kingdom since April, 2012.