Dubai Islamic Bank Pakistan Limited has announced the appointment of Muhammad Ali Gulfaraz as its new Chief Executive Officer, effective May 2, 2025.
Bringing over 25 years of experience across international and domestic financial markets, Gulfaraz is expected to steer the bank through its next phase of growth, with a strong focus on corporate strategy, investment banking, risk management, and digital innovation.
Prior to this role, Gulfaraz served as the Managing Director and CEO of the Bank of Khyber, where he led wide-ranging reforms in governance, operations, and digital transformation.
Internationally, he held senior leadership positions at major global institutions. He was Managing Director and Head of Corporate & Investment Banking at Mizuho Corporate Bank in London, overseeing operations across the UK, Ireland, and Nordic markets. Earlier, he spent over a decade at Bank of America in London, where he rose to Principal in Global Corporate & Investment Banking, with earlier responsibilities in credit risk and portfolio management.
Gulfaraz also brings experience from the development finance and strategic investment space, having served as Executive Director at Fauji Foundation. There, he oversaw group-level strategy and investments, and sat on the boards of several portfolio companies.
An alumnus of Cadet College Hasan Abdal, Gulfaraz holds a Bachelor’s degree in Economics and a Master’s in Agricultural and Managerial Economics with a concentration in Finance from the University of California, Davis. He has also undergone executive training in London, Tokyo, and San Francisco.
His appointment is seen as a strategic move by Dubai Islamic Bank to consolidate its leadership team and deepen its market presence in Pakistan.
