SBP urges BOP president appointment at the earliest

Published: April 15, 2019
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'It is requested that the subject position be filled on regular basis at the earliest in line.' PHOTO: FILE

'It is requested that the subject position be filled on regular basis at the earliest in line.' PHOTO: FILE

KARACHI: The State Bank of Pakistan (SBP) has notified the finance ministry of the Punjab government to complete the process for appointment of Bank of Punjab (BOP) president and CEO at the earliest.

In a notification issued to the Finance Department of the Punjab government, the central bank stated that after lapse of considerable time the matter of appointment has not been resolved.

The central bank had earlier allowed BOP Deputy CEO Khalid Siddiq Tirmizey to look after the bank’s day-to-day affairs for a period of four months (with effect from December 7, 2018) or till the appointment of the new president/CEO, whichever is earlier, according to the statement.

“Further, the bank was also advised to take up the matter with the government of Punjab to appoint regular president/CEO of the bank.”

However, as the appointment has still not been finalised, it was urged that further delay is not in the interest of the bank and is fraught with legal and reputational risk.

BOP running without president for four months

“It is requested that the subject position be filled on regular basis at the earliest in line with the provisions of the Bank of Punjab Act 1989, SBP’s FPT Criteria and other applicable laws/rules/regulations,” it added.

Published in The Express Tribune, April 15th, 2019.

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