KARACHI  -  The Pakistan Banks Association (PBA) is delighted to announce the election of Mr Zafar Masud, President and CEO of The Bank of Punjab (BOP), as the new Chairman of the Association.

This appointment follows the transition of Mr Muhammad Aurangzeb, the former PBA chairman, who assumed the role of Federal Minister of Fi­nance and Revenue for Pakistan earlier this month. In accor­dance with this change, the PBA Executive Committee (EC) con­vened and unanimously elected the following individuals:

Mr Zafar Masud, currently serving as the PBA’s Senior Vice Chairman and President and CEO of The Bank of Punjab, as Chairman of the Association.

Mr Yousaf Hussain, President and CEO of Faysal Bank, as Se­nior Vice Chairman.

Mr Ahmed Khan Bozai, Man­aging Director and Citi Country Officer of Citibank NA Pakistan, as the new Vice Chairman of the Association.

The associ­ation is confi­dent that un­der the new leadership, it will continue to effectively represent the banking sector by fostering strong relationships with key stakeholders, includ­ing the State Bank of Pakistan. Additionally, it will prioritise initiatives aimed at enhancing technological infrastructure, up­holding compliance standards, and advancing financial inclu­sion efforts. Moreover, the as­sociation will collaborate with banks to support the growth of Small and Medium Enterprises (SMEs), middle markets, and the financing of critical infrastruc­ture and industrial projects vital for the nation’s development.

PBA extends its appreciation to Muhammad Aurangzeb for his significant contributions dur­ing his tenure as chairman and expresses confidence in the ca­pabilities of Mr Zafar Masud and the Executive Committee to lead the organisation towards further achievements and milestones.