IHC orders removal of NBP president

The Islamabad High Court (IHC) on Tuesday ordered removal of National Bank of Pakistan (NBP) President Arif Usmani and Board of Directors (BoD) Chairman Zubyr Soomro.

IHC Justice Mohsin Akhtar Kayani announced the judgment in a petition filed against the appointment of the NBP president. The high court had reserved the verdict on June 11.

Earlier, the petitioners Syed Jahangir, Javed Iqbal, Fazal Raheem and Latif Qureshi had contended that the NBP president's appointment was against the Public Sector Guidelines 2015, while Usmani did not hold a relevant degree.