MCB Bank Limited (PSX: MCB), announced the appointment of Muhammad Nauman Chughtai as the President & CEO of the bank. “The current tenure of Mr. Shoaib Mumtaz as President & Chief Executive Officer of MCB Bank Limited (the “Bank”) is expiring on December 20, 2024 reported by ProPakistani.
“The Board of Directors, in its meeting held on December 11, 2024, has approved the appointment of Muhammad Nauman Chughtai as President & CEO of the Bank,” stated a notice sent to the main bourse on Wednesday.
The appointment is part of the clearance of his Fit 7 Proper Test (FPT) by the State Bank of Pakistan (SBP). At the dissolution of the term of the current President on December 20, 2024, he shall also take charge as Acting President for a maximum period of three months or clearance of FPT by SBP, whichever comes first.
The filing further added, “The Board also placed on record its appreciation for the valuable contribution and the services rendered by Shoaib Mumtaz, the outgoing President & CEO, on completion of his term on December 20, 2024, and wished him good luck in his future endeavors.”
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