The board of directors appointed Syed Amir Ali as the Deputy President and Deputy CEO of Meezan Bank.
He will take over as the President and CEO of Meezan Bank after the retirement of the President and CEO Irfan Siddiqui in December 2025.
The board decided to appoint Syed Amir Ali as the Deputy CEO, who is expected to join on 1st October 2023. He is presently serving as the CEO and President BankIslami who performed tremendously to significantly grow the bank’s operations.
The appointment is subject to the receipt of applicable regulatory approvals, including but not limited to Fit and Proper Test clearance from the State Bank of Pakistan (SBP).
The board also appointed Irfan Siddiqui as the CEO and President of Meezan Bank for another term. He will retain this office by 29 December 2025, according to the notification issued to Pakistan Stock Exchange (PSX). He is the founder of Meezan Bank and the longest-serving President of any commercial bank in Pakistan.
Irfan Siddiqui is the highest-paid banker in Pakistan with an annual salary surged to over Rs. 422 million. He established the operations of Meezan Bank from scratch, setting up the foundation of modern Islamic banking in Pakistan.
In nearly 20 years of his professional career in Islamic banking, he has played a major role in the progress and development of his bank and Islamic banking industry.
Deputy President and CEO
Ariful Islam will continue to act in his present role as Deputy CEO until April 18, 2024. It is noted that Ariful Islam was anticipated to succeed the Founding President & CEO as the next President & CEO of Meezan Bank Limited upon the Founding President & CEO’s retirement.
However, on account of recent regulations concerning CEO age limits issued by the SBP such succession is no longer possible.
Mr. Aamir Ali joins Bank Islami only to come back as a CEO of Meezan Bank.