Summit Bank has announced the appointment of Jawad Majid Khan as its new CEO in place of the Acting CEO, Ahsan Raza.
According to the official announcement to the Pakistan Stock Exchange (PSX), the bank’s Board of Directors has appointed Jawad Majid Khan with immediate effect for the next three years.
His appointment is subject to the approval of the State Bank of Pakistan (SBP) and other regulatory authorities.
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The board has also approved the relinquishment of Ahsan Raza as the Acting CEO and Executive Director of the bank.
Jawad Majid Khan was currently the Group Head of Emaan Islamic Banking at Silk Bank, and was the Country Head for Distribution & SME for the Dubai Islamic Bank between 2005 and 2011. He is a graduate in Economics with a specialization in Development Economics and International Monetary Policy from the Quaid-e-Azam University, Islamabad.
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For his new assignment, Khan will have to operate Summit Bank without operational losses and expand its services and business across the country.
Keeping in view his rich experience in Islamic banking, the management of Summit Bank will focus more on Islamic banking which had once been its priority area with a plan to convert all its operations from conventional to Sharia-based banking.
