Karachi: In a significant development for the banking sector, the State Bank of Pakistan has granted Fit and Proper Test (FPT) clearance to Mr. Zia Ijaz, paving the way for him to assume the role of President and CEO of Askari Bank Limited. This announcement comes as a continuation of the letter dated January 24, 2025, and marks a crucial step in the leadership transition of the bank.

Mr. Zia Ijaz is set to officially take charge of his new role on Monday, February 17, 2025. This appointment is expected to bring a fresh perspective and leadership to the banking institution, which has been a significant player in the financial markets. The market category designated for Askari Bank Limited is the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), the transition in leadership is seen as a positive move, ensuring stability and continuity in the bank’s operations. The stakeholders and TRE Certificate Holders of the Exchange have been duly informed of this development, underscoring the transparency and regulatory compliance observed in this leadership change.

The clearance from the State Bank of Pakistan signifies the confidence in Mr. Zia Ijaz’s capabilities to steer Askari Bank towards continued growth and success in the competitive banking landscape of Pakistan. The financial community is keenly observing this transition, expecting strategic initiatives and innovations under the new leadership.