Karachi July 10 2023: The Board of Directors of Meezan Bank decided that Syed Amir Ali shall succeed the Founding President & CEO as the President & CEO of Meezan Bank Limited on retirement of Founding President and CEO Mr. Irfan Siddiqui.
The Board of Directors of Meezan Bank Limited has unanimously decided to extend the tenor of Mr. Irfan Siddiqui as the Founding President & CEO of Meezan Bank Limited ("Founding President & CEO') till December 29, 2025.
Mr. Ariful Islam will continue to act in his present role as Deputy CEO until April 18, 2024. It is noted that Mr. 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 State Bank of Pakistan such succession is no longer possible.
Accordingly, the Board has unanimously decided to appoint Syed Amir Ali as the Deputy CEO, who is expected to join from 1' October 2023. Upon retirement of the Founding President & CEO, Syed Amir Ali shall succeed the Founding President & CEO as the President & CEO of Meezan Bank Limited.
The aforementioned 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.
The development has been confirmed by Bank Islami as the Bank states that Syed Amir Ali, President & Chief Executive Officer of the Bank, does not intend to seek reappointment on completion of his current term of employment on September 28,2023, and has decided to pursue another assignment outside Banklslami Pakistan Limited.
Mr. Amir was appointed as President & Chief Executive Officer on October 1, 2018, and served the Bank for 5 years. With the Blessings of Allah SWT, Banklslami made noticeable progress during this period of his leadership.