Zafar Masud elected new chairman of Pakistan Banks’ Association

KARACHI: Pakistan Banks’ Association (PBA) has announced the appointment of Zafar Masud, President and CEO of the Bank of Punjab (BOP), as the new Chairman of the Association, replacing former PBA Chairman, Muhammad Aurangzeb.

Aurangzeb recently assumed the position of Federal Minister for Finance and Revenue for Pakistan at the beginning of this month.

As per the decision made by the PBA Executive Committee (EC), the following individuals have been unanimously elected:

•  Zafar Masud, currently serving as the Senior Vice Chairman of PBA and President & CEO of the Bank of Punjab, as the Chairman of the Association.
•  Yusuf Hussain, President & CEO of Faisal Bank, as the Senior Vice Chairman.
•  Ahmed Khan Bozai, Managing Director and Country Officer of City Bank N.A. Pakistan, as the new Vice Chairman of the Association.

The Association is confident that under the new leadership, it will continue to strengthen relationships with key stakeholders, including the State Bank of Pakistan, and maintain effective representation of the banking sector. Furthermore, it will prioritize initiatives aimed at enhancing technical infrastructure, maintaining implementation standards, and advancing financial inclusivity efforts.

Moreover, the Association will collaborate with banks to provide financial assistance for small and medium-sized enterprises (SMEs), middle markets, and crucial infrastructure and industrial projects for the country’s development.

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PBA acknowledges Muhammad Aurangzeb’s commendable services during his tenure as Chairman and expresses confidence in Zafar Masud and the Executive Committee’s abilities to lead the organization towards further successes and milestones.