Govt to appoint Arif Usmani as President NBP

ISLAMABAD: The Finance Minister Asad Umer has given approval for the appointment of Arif Usmani as CEO and President of National Bank of Pakistan (NBP) for next three years, sources in the finance minister said.

According to the sources, he (Umer) asked the government to issue notification of Arif Usmani as President and CEO of the NBP.

On November 9, Finance Minister Asad Umar took interviews of the candidates and shortlisted Arif Usmani and Javed Kureshi but Javed Kureshi has refused to become the President of the bank, the source said.

Arif Usmani, Javed Kureshi, Nadeem Lodhi and Wajahat Hussain were selected for the interview and short-listed candidates were interviewed in person and via video link, whilst Atif Bajwa didn’t participate due to personal reasons and requested his name be removed from the list.

Consequently, the committee unanimously proposed the names of three people in the order of merit for the post of CEO/President, NBP which included Javed Kureishi, Arif Usmani and Wajahat Hussain.

However, sources shared Mr Kureishi apprised that due to personal reasons he was forced to take back his name and resultantly the Finance Division recommended appointing Arif Usmani as the CEO, NBP which is contingent to clearance from the central bank.

Mr Usmani has been serving at Mashreq Bank and his previous experience includes stints as global head of wholesale banking at Abu Dhabi Islamic Bank PJSC, managing director and country officer of Citibank NA Pakistan.

The post of the President and CEO was lying vacated after the government had suspended former president Saeed Ahmad on the National Accountability Bureau’s request.