April 16, 2019 (MLN): The State Bank of Pakistan (SBP) has requested the Bank of Punjab (BOP) to appoint a regular President/CEO at the earliest, as the central reminded through an official notification that further delay in the appointment is not in the interest of BOP.
Keeping in view the circumstances of BOP, the central bank had earlier allowed Mr. Khalid Siddiq Tirmizey, Deputy CEO, BOP to look after the day-to-day affairs of the bank for 4 months, with effect from December 7, 2018, or until the appointment of new President/CEO, whichever occurs earlier.
The SBP further advised the bank to take up the matter of new appointment with the government of Punjab.
However, recently the SBP announced via an official notification that after the lapse of considerable time, the matter of new appointment has not been resolved as yet.
The notification undersigned by Additional Director Mr. Syed Mansoor Ali further pointed out that further delay in appointment is fraught with legal and reputational risk.
