Karachi: First National Bank Modaraba has announced the appointment of Mr. Javaid Bashir Sheikh as the new Chairman of its Board of Directors. This appointment follows the recent elections held by the National Bank Modaraba Management Company Limited, which manages the First National Bank Modaraba. The elections took place on May 25, 2026, and the appointment received approval from the Securities & Exchange Commission of Pakistan on June 29, 2026.
Mr. Sheikh’s appointment as Chairman became effective on July 06, 2026, and he will serve a three-year term, concluding on May 25, 2029. The management has communicated this development to the TRE Certificate Holders of the Exchange. According to information available from the Pakistan Stock Exchange (PSX), this move is a significant step in strengthening the governance of the company.
The appointment of Mr. Sheikh aims to enhance leadership at the First National Bank Modaraba, ensuring effective oversight and strategic direction for the future. As the new Chairman, Mr. Sheikh is expected to bring his expertise and experience to guide the company in achieving its objectives over the coming years.