The Board of Directors of The Bank of Punjab (PSX: BOP) has approved a one-year extension in the tenure of Mr. Zafar Masud as President and Chief Executive Officer, effective April 16, 2025. The decision was taken during an emergent board meeting held on April 10, following a notification issued by the Finance Department, Government of Punjab, on April 9.
The extension will continue under the existing terms and conditions of employment, the bank said in a notice to the Pakistan Stock Exchange (PSX).
Mr. Masud, a seasoned banker with over 27 years of experience in development finance and commercial banking, has held senior leadership roles in both domestic and international institutions. Before joining BOP, he served as Regional Managing Director & CEO for Southern Africa at Barclays Bank plc, overseeing operations across three countries with a balance sheet of $3 billion and a workforce of approximately 10,000.
His prior roles include senior positions at Citibank, Dubai Islamic Bank, and American Express Bank. Notably, he also served as Director General of National Savings at the Ministry of Finance, where he spearheaded digitization initiatives and expanded financial inclusion through products for persons with disabilities, martyrs’ families, and overseas Pakistanis.
He most recently served as interim CEO of InfraZamin Pakistan, a UK DfID-backed company focused on credit enhancement for social infrastructure.
Mr. Masud also brings substantial boardroom experience, having served on the boards of the State Bank of Pakistan, Oil & Gas Development Company Limited, Port Qasim Authority, and Quaid-e-Azam Thermal Power (Pvt) Ltd, among others. He is currently a member of the IMF-supported task force on framing legislation for state-owned enterprises.
In addition to his professional responsibilities, Mr. Masud is a regular media commentator on economic and financial issues.
