The State Bank of Pakistan has approved the Fitness and Propriety Test (FPT) clearance for Mr. Muhammad Nauman Chughtai as the President and CEO of MCB Bank Limited.
MCB shared this development through a notice to the Pakistan Stock Exchange (PSX) on Wednesday.
The approval paves the way for Mr. Chughtai to formally assume leadership of one of Pakistan’s leading banks.
Earlier, on December 11, 2024, MCB Bank announced the appointment of Muhammad Nauman Chughtai as its new President and Chief Executive Officer, following the completion of Shoaib Mumtaz’s term on December 20, 2024.
According to the MCB website, Mr Chughtai brings over three decades of extensive banking experience across foreign and domestic banks. He has overseen diverse areas including consumer, retail, corporate, and transaction banking, as well as cash management services.
During his tenure at MCB Bank, Mr. Chughtai headed the Corporate Banking Group and served as Group Head of Risk Management and Chief Risk Officer, contributing significantly to the bank’s sustained growth and strong market reputation. His leadership has been instrumental in advancing the bank’s operational excellence and strategic positioning in the industry.
Mr. Chughtai has also served on the Boards of MCB Islamic Bank and MCB Leasing Azerbaijan. He is a Chartered Financial Analyst (CFA) and holds an MBA in Finance and Marketing from the Lahore University of Management Sciences (LUMS) and a Bachelor’s degree in Electronics Engineering from NED University.
