Cabinet Likely to Approve Appointment of New Directors for NBP Board

The federal cabinet is likely to give approval to the appointment of new directors in the National Bank of Pakistan (NBP) board for a period of three years, as the Finance Division has shortlisted candidates.

Sources told ProPakistani that the Finance Division shortlisted Sarwar Iqbal, Kusheed Kotwal, and Muhammad Farhan Malik as independent directors for the NBP board.

The cabinet had directed the Finance Division to reconsider the nomination of ex-officio members on various boards in the future. Now, the Division excluded the name of the Additional Secretary from the NBP board while proposing the above-said names.

Sources said the Finance Division evaluated competent candidates for the said position. They said the above-mentioned persons served in various management positions of banks/companies during their careers.

The names of the shortlisted professional bankers are also part of the databank maintained by the Pakistan Institute of Corporate Governance, sources added.

At present, Zubyr Soomro is the Chairman while Arif Usmani is serving as President/CEO. Likewise, Asif Jooma, Tawfiq Asghar Hussain, Sadaffe Abid, Imam Bakhsh Baloch, and Ahsan Ali Chughtai are directors, and Farid Malik is a private director of the NBP board.

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