MCB Bank appoints Muhammad Nauman Chughtai as President, CEO

MG News | December 11, 2024 at 02:08 PM GMT+05:00

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December 11, 2024 (MLN): The Board of Directors of MCB Bank Limited (PSX: MCB) has approved the appointment of Mr Muhammad Nauman Chughtai as President & CEO of the Bank,

This appointment is subjected to the clearance of his Fit & Proper Test ("FPT") by the State Bank of Pakistan (SBP).

The existing term of Mr. Shoaib Mumtaz as President & Chief Executive Officer ("CEO") of MCB Bank Limited (the "Bank") is expiring on December 20, 2024.

Upon the expiry of the term of the current President, i.e., December 20, 2024, Mr Muhammad Nauman Chughtai shall also assume the charge as "Acting President" for a maximum period of three months or clearance of FPT by SBP, whichever is earlier.

The Board has also placed on record its appreciation for the valuable contribution and the services rendered by the outgoing President & CEO, Mr Shoaib Mumtaz, on completion of his term on December 20, 2024, and wished him luck in his future endeavours.

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