The Bank of Punjab Board has approved a one-year extension in the employment contract of Zafar Masud as President and Chief Executive Officer, according to a notice sent to the Pakistan Stock Exchange.
The decision was taken at the bank’s 330th emergent meeting of the Board of Directors, held on April 13, 2026. According to the official communication, the extension will become effective from April 16, 2026 and will continue under the existing terms and conditions.
The bank said the approval follows the issuance of a formal notification by the Finance Department, Government of Punjab dated April 13, 2026.
In its filing, BOP stated that the board had approved the continuation of Zafar Masud’s contract for one additional year on the same terms currently in place.
The development has been formally communicated to the Pakistan Stock Exchange for dissemination to TRE certificate holders and market participants.
According to The Bank of Punjab’s website, Zafar Masud has been serving as Chief Executive Officer since 2020. A seasoned banker and entrepreneur with 27 years of experience, he has previously held senior leadership roles at institutions including Barclays Bank, Citibank, Dubai Islamic Bank, and American Express Bank, with a strong background in development finance, banking transformation, and public sector financial institutions.
