Muhammad Babar Ayyaz assumes charge as president and CEO of Bank of AJK

Malik Muhammad Babar Ayyaz on Wednesday assumed charge as president and chief executive officer (CEO) of the Bank of Azad Jammu & Kashmir (BAJK), bringing more than 27 years of banking and financial-sector experience to the state-owned institution at a crucial stage of its growth and transformation.

A seasoned banking professional, Ayyaz has extensive experience in corporate and commercial banking, Islamic banking, SME finance, strategic planning, business transformation and institutional leadership. His appointment is expected to provide fresh impetus to BAJK’s efforts to expand its financial services, strengthen its operational capacity and broaden access to banking facilities across AJK.

Before joining BAJK, Ayyaz spent nearly 17 years at the Bank of Punjab (BOP), where he held a number of senior leadership positions after beginning his career with other private-sector banks.

During his tenure at BOP, he played a key role in restructuring and strengthening the bank’s Corporate and Investment Banking operations. He was also instrumental in establishing and developing its SME and Commercial Banking businesses, contributing to the institution’s growth and broader strategic transformation.

His professional experience spans several areas considered critical to BAJK’s future expansion, including priority-sector lending, SMEs, digital banking, Islamic finance, institutional development and strategic business transformation.

Ayyaz holds an executive MBA from the Lahore University of Management Sciences (LUMS), where he graduated with distinction and was placed on the Dean’s Honour Roll. His academic credentials, coupled with more than two decades of leadership experience in the financial sector, position him to steer BAJK through its next phase of institutional development.

AJK Chief Secretary and BAJK Chairman Khushkal Khan welcomed the appointment, saying the bank would benefit from the experience of a professional banker with extensive expertise in priority-sector lending.

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“I congratulate the BAJK team on having a professional banker with extensive experience in priority-sector lending,” Khan said.

He said the government expected BAJK to play a greater role in promoting financial inclusion, empowering SMEs and taking the institution to the next level.

Khan also described the appointment as an important first step in BAJK’s longer-term journey towards securing a nationwide commercial banking licence, signalling ambitions to expand the bank’s role beyond its traditional regional footprint.

Ayyaz, meanwhile, said he was honoured to join BAJK at an important stage in its growth and transformation.

He described BAJK as the premier state-owned financial institution of AJK, saying its reputation had been built on customer trust and the commitment of its employees.

Under his leadership, he said, the bank would work with its Board of Directors, management, employees and other stakeholders to strengthen financial performance and accelerate the institution’s transformation.

Ayyaz also emphasised the need to promote greater financial inclusion across the region, particularly by expanding access to formal financial services and supporting businesses and communities that remain underserved by conventional banking channels.

“We will work to further strengthen the bank’s financial performance, accelerate digital transformation, expand Islamic and SME banking, enhance customer experience, reinforce governance and risk-management practices, and promote greater financial inclusion across the region,” he said.

He added that the bank’s focus would remain on innovation, operational excellence and sustainable growth while creating long-term value for customers, communities and the wider economy of AJK.

The proposed pursuit of a nationwide commercial banking licence could also mark a significant strategic milestone for BAJK, potentially enabling the institution to expand its operations beyond AJK and emerge as a broader player in Pakistan’s banking sector.