After his controversial removal as President of the Bank of Punjab (BOP), senior banker Talib Rizvi has moved on to his next project after joining Apna Microfinance Bank Limited (AMBL) as Special Advisor to the chairman of the institution.
With nearly two and a half decades of banking experience under his belt, Rizvi’s last high profile appointment had come in April 2019, when he was appointed President of the BOP by a notification of the Punjab government.
However, his very short stint at the head of the bank came to an abrupt and surprising halt, when the State Bank of Pakistan (SBP) refused to issue the ‘Fit and Proper Test’ (FPT) clearance to Rizvi, despite all other agency clearances and checks in place, stating his lack of ‘diversified experience’ as the core reason.
Read more: Two new names emerge for BOP presidency after SBP shoots down Talib Rizvi’s appointment
What had followed was a controversial period which eventually led to the appointment of Khalid Siddiq Tirmizey, the former Deputy Chief Executive Officer Bank of Punjab, as President of the bank – a position he still holds.
However, his term is also set to end very soon, with the provincial cabinet having approved the name of another senior banker and former Bank Alfalah boss, Atif Bajwa, as the next President of the BOP.
Read More:Atif Bajwa’s name approved as President Bank of Punjab
Tirmizey had been made Acting President in December of 2018, after the end of the previous President Naeemuddin Khan’s tenure. After Rizvi took over for only a few months before the SBP did not give him FPT clearance, Tirmizey was made Acting President again before being fast tracked to the position for a full term.
There had been questions of political pressure that had led to the removal of Rizvi back in June 2019, even though he had initially been touted as a favourite of the Pakistan Tehreek i i Insaaf, and a political replacement for Naeemuddine Khan, since the bank had not seen any losses under his tenure.
However, as his short lived presidency unfolded, sources informed that he was hindered in his work and not allowed to implement his vision, with there even being instances of President’s Office being an obstacle.
Back then, there had been significant murmurings within the banking community, with many shocked that Rizvi was considered under qualified for the job. Of the 5 senior bankers Profit contacted back when Rizvi was first removed, 4 had said he was more than qualified for the job, and one of the most qualified senior bankers in the country.
While he may have been shunned by the SBP, his new home at the AMBL is looking forward to cashing in on his experience and utilizing his abilities fully.
Speaking on the occasion, Mian Shahid, Chairman of the AMBL said, “We are very pleased to have a valuable and experienced banker like Talib Rizvi in our team to reinforce organizational and management structure.”
“With Rizvi’s many years of experience, we will be well positioned to improve the working of the bank, introduce new products and continue providing the best services for our clients,”
