President Zarai Tarqiati Bank Limited, Shahbaz Jameel has reportedly started structural reforms in the bank by inducting experienced bankers from renowned banks and technology driven changes.

However, at the same time thorough inquiries of officials involved in financial irregularities and abuse of authority have also been initiated through investigation arm of the bank aimed at cleansing the bank of such people who inflicted financial loss to the bank and damaged its reputation.

Well informed sources told Business Recorder, about 40-50 influential and politically well-connected officials in senior positions allegedly involved in financial mismanagement/corruption and other illegal activities are likely to be removed with due process. These under-investigation officials are said to be putting pressure on the President to save their skin. "When files of corrupt officials are presented at the competent forum, it exposes them of messing with the bank for years," the sources added.

Official documents available with Business Recorder reveal that ZTBL has issued half a dozen show cause notices to its several present and former officials.