July 10, 2023 (MLN): The Board of Directors (BoD) of Meezan Bank Limited (PSX: MEBL) has unanimously decided to extend the tenor of Mr. Irfan Siddiqui as the Founding President & CEO of the bank 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. Argil 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 on October 01, 2023.
Upon the 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 development 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.
