KARACHI: The Board of Directors (BoD) of MCB Bank, one of Pakistan’s leading commercial banks, has approved the appointment of Muhammad Nauman Chughtai as the new President and Chief Executive Officer (CEO).
MCB Bank made the announcement in a notice to the Pakistan Stock Exchange (PSX) on Wednesday, noting that Chughtai’s appointment follows the completion of Shoaib Mumtaz’s term on December 20, 2024.
Chughtai, currently serving as Group Head of the Risk Management Group at MCB, brings over 25 years of banking experience in risk management and corporate banking. He also sits on the board of MCB Bank Leasing Azerbaijan, a subsidiary of MCB Bank.
The appointment is subject to clearance of the Fit & Proper Test (FPT) by the State Bank of Pakistan (SBP). Until the test’s clearance, Chughtai will serve as Acting President for up to three months, starting December 20, 2024.
The BoD expressed gratitude for Shoaib Mumtaz’s contributions during his term and wished him success in future endeavors.
Meta Announces Plans for Major Layoffs Amid AI Push Meta, the technology giant, has announced…
Tourists Trapped on Cliff During Tide Rise A group of seven, including three children, found…
Israeli attacks persist in Gaza despite ceasefire, raising death toll to over 71,000, with thousands…
US President Donald Trump is set to meet Lebanese and Israeli envoys for peace talks…
Israel's Defence Minister Israel Katz announced on Thursday that Israel is prepared to resume the…
Chief of Naval Staff Admiral Naveed Ashraf stated on Thursday that the future of warfare…
This website uses cookies.
