UBank names Mohamed Essa Al-Taheri as new CEO after Kabeer Naqvi's resignation

October 22, 2023 (MLN): PTCL Group has appointed Mohamed Essa Al Taheri has been appointed as the acting President and CEO of U Microfinance Bank following the resignation of Kabeer Naqvi, the former President and CEO.

In addition to his role as CEO, Essa has been a Member of the Board of Directors at U Microfinance Bank Limited for over 11 years.

Prior to his role at U Microfinance Bank, Essa worked as the Group Executive Vice President for Revenue and credit Management at e&.

Furthermore, Essa has held a significant position as a Senior Advisor in Finance for Group Etisalat International in the United Arab Emirates for over 19 years.

Before his role at E&E, Essa served as the Group Executive Vice President for Revenue and Credit Management at Etisalat for approximately 3 years.

He also had a significant role as the Executive Vice President for Cost and credit Management at Etisalat for approximately 5 and a half years.

He holds a Master’s degree in International Business from the University of Wollongong, Dubai. He brings over 20 years of professional experience working with HSBC Bank, Dubai Commercial Bank, and the Development Board of Dubai Government.

Kabeer Naqvi, who had also taken on the role of Chairman of the Microfinance Network in Pakistan in July 2023, also stepped down from this position.

The changes within U Microfinance Bank don't end there. Two other key figures, Kabeer Khan Ambreen, the Chief Business Officer (CBO), and Maryam, the Chief Digital Officer (CDO), have also resigned.

According to sources close to the matter, the board of U Bank has requested the submission of resignations from key executives amidst an Rs8 billion provisioning charge imposed by the State Bank of Pakistan (SBP).

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