The Pakistan Banks’ Association (PBA) is pleased to announce the election of Mr. Zafar Masud, President & CEO of the Bank of Punjab (BOP), as the new Chairman of the Association. This change follows the appointment of Mr. Muhammad Aurangzeb, the previous PBA Chairman, as the Federal Minister of Finance and Revenue for Pakistan earlier this month. To formalize this transition, the PBA Executive Committee (EC) convened and unanimously elected the following:
- a) Mr. Zafar Masud, the current Senior Vice Chairman of PBA and President & CEO of The Bank of Punjab, as the new Chairman of the Association.
- b) Mr. Yousaf Hussain, the current Vice Chairman of PBA and President & CEO of Faysal Bank, as the new Senior Vice Chairman.
- c) Mr. Ahmed Khan Bozai, a member of the Executive Committee and Managing Director & Citi Country Officer of Citibank N.A., Pakistan, as the new Vice Chairman of the Association.
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Under the new leadership, the Association aims to continue effectively representing the banking sector by fostering strong relationships with key stakeholders, including the State Bank of Pakistan. It will prioritize aligning banks with technological advancements and digital frameworks, maintaining robust compliance standards, and promoting financial inclusion. Moreover, the PBA will collaborate with banks to facilitate the growth of Small and Medium Enterprises (SMEs), middle markets, and the financing of crucial infrastructure and industrial projects vital for the country’s development.The PBA extends its appreciation to Mr. Muhammad Aurangzeb for his significant contributions during his tenure as Chairman and expresses confidence that the new Chairman, Mr. Zafar Masud, along with the Executive Committee, will lead the organization towards further accomplishments and noteworthy milestones.
