Naeemuddin Khan resigns from BoP, govt mulling to appoint Citi banker as next NBP president

Atif Bukhari, Nadeem Lodhi, Arif Usmani, Wajahat Hussain and Javed Kureishi were shortlisted for the post of NBP president


ISLAMABAD: The Bank of Punjab (BoP) President Naeemuddin Khan on Friday resigned from his post a month before the expiry of his term, as the government is contemplating to appoint a Citi banker to the post of president at National Bank of Pakistan (NBP).

Mr Khan who had been at the helm of affairs since the last decade had overseen the turnaround of BOP from the brink of bankruptcy and converted it into a profitable entity.

According to State Bank of Pakistan regulations, Mr Khan will serve a one-month notice and vacate his post two weeks before his extended term concludes on December 19th, 2018.

On Friday, Finance Minister Asad Umar took interviews of shortlisted candidates for the position of president at NBP and majority of them had worked at the Citibank previously, according to reports.

And other people on the interviewing panel include Adviser on Institutional Reforms Dr Ishrat Hussain and PM’s Adviser on Commerce and Industry Razak Dawood.

Also, the finance minister has short-listed candidates for the posts of commissioners of the Securities and Exchange Commission of Pakistan (SECP) and members of the Competition Commission of Pakistan (CCP).

The process of concluding the candidates for appointment as SECP commissioners, CCP members and NBP president are expected to be done by Tuesday, said Umar.

Affidavits have been taken from shortlisted nominees for positions of SECP commissioners, NBP president and CCP members regarding their nationality, previous conduct and court cases, as per sources in the finance ministry.

The sources added the candidates have been requested to share their nationality, court cases and previous conduct to ensure honest and professional people are selected.

Atif Bukhari, Nadeem Lodhi, Arif Usmani, Wajahat Hussain and Javed Kureishi were shortlisted for the post of NBP president.

However, Atif Bukhari dropped from the list since he had recently given up his Pakistani passport for an Austrian nationality, the sources said.

Mr Kureishi has previously served as Asia’s head at Citigroup and also been a CEO of a business in the Middle East till 2010 and also worked as the country officer of the Czech Republic at Citigroup.

And Mr Usmani has been serving at Mashreq Bank and his previous experience includes stints as global head of wholesale banking at Abu Dhabi Islamic Bank PJSC, managing director and country officer of Citibank NA Pakistan.

Mr Lodhi is currently serving as CEO at Citibank NA operations in Pakistan since April 2012 and has previously worked at Abraaj Capital and served as head of business in Sub-Saharan Africa there.

According to sources, Mr Usmani and Mr Lodhi are the favourites for the post of NBP president.



  1. One wonders the wisdom of Asad Umar and Dr. Ishrat Hussain in short listing and selecting Javed Lodhi or Usman to head Pakistan premier public sector financial institution viz. National Bank of Pakistan. Both selectees have background of heading Citibank operations in Pakistan with very limited branch network and that too they failed to manage and resorted to closing down Citibank retail operations in Pakistan.

    When these two cronies had not the capability to run successfully the Citibank in Pakistan with even limited operations how they could be expected to successfully run the gigantic operations of NBP with 2000 countrywide branches, 20, 000 staff members and global presence in all important financial centre’s of the world besides having correspondent relationship internationally.

    It appears NBP’s days too now numbered. Both Asad Umar and Dr. Ishrat Hussain have slave mentality as exposed with favoring Citibank. Nominees.

    • You have given a true picture of on goings
      Asad umer took a decision of posting ZTBL Chairman Mr Inam who always assisted corrupt mafia sitting in Bank but in haste posted to Head ZTBL

  2. The Govt should seriously think in offering Naeemuddin the post of President back, he has taken the bank from the jaws of bankruptcy to a successful competitive Bank.
    Parties should look towards quality and progress.

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