Zafar Masud, President and CEO of the Bank of Punjab, has been elected as the new chairman of the Pakistan Banks Association (PBA). The announcement came alongside the formation of a 16-member executive committee, including two women and eight newly inducted member banks, reflecting a step toward broader representation in the banking sector.
Speaking on the occasion, Zafar Masud said the expanded executive committee marks a turning point for the PBA. He emphasized that diverse membership will help the association advance Pakistan’s economic agenda, promote financial inclusion, and reduce credit gaps in critical sectors. He also highlighted the importance of digital banking solutions in supporting sustainable economic recovery.
Under the new leadership, Nasser Salim, President and CEO of Habib Bank Limited, has been appointed senior vice chairman, while Yousaf Hussain, President and CEO of Faysal Bank Limited, becomes vice chairman. Salim stressed maintaining stability and strong compliance frameworks amid global economic challenges. Hussain highlighted modernization, technology adoption, and institutional agility as key factors for keeping Pakistan’s banking sector competitive in the region.
Munir Kamal, CEO and Secretary-General of the PBA, welcomed the committee’s expansion. He noted that the historic inclusion of women reflects a commitment to diversity and modern leadership, aligning with global banking trends.
Zafar Masud and the executive committee plan to work closely with the State Bank of Pakistan, Ministry of Finance, and federal government. Their priorities include supporting infrastructure projects, increasing private sector lending to agriculture and SMEs, and accelerating Pakistan’s digital transformation in banking.
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Officials say this new leadership structure aims to balance growth, compliance, and innovation while addressing the financial needs of a rapidly evolving economy. Zafar Masud’s election is seen as a key milestone in steering Pakistan’s banking industry toward inclusivity, modernization, and sustainable progress.
