Cabinet seals NBP's new Chief

Mettis Global reported that the federal cabinet has settled on a new head for National Bank of Pakistan (NBP), ending a leadership gap of about six weeks, though the name is withheld. A memorandum from the Cabinet Division, addressed to the Finance Division secretary, confirms the decision, but the appointee's identity sits in an enclosure the government has not published. The Finance Division has been told to begin implementation immediately and to report back within seven days.

Rehmat Ali Hasnie, who had led the bank since August 2023, left after a two-week extension ran out on August 21. Abdul Wahid Sethi, the Chief Financial Officer, took acting charge in the interim under a stopgap limited to three months or until a permanent appointment. The search for a permanent head had been under way since mid-June, and a panel headed by the Finance Minister interviewed nine shortlisted candidates in mid-August.

Zafar Masud of The Bank of Punjab, Imran Sarwar of United Bank Limited and Hassan Raza of The Bank of Khyber were among the nine, and Mettis Global called them the names most often cited as frontrunners. NBP is the state's largest lender, and the report noted that the long vacancy had weighed on credit decisions, IT modernization and loan-book cleanup. The memorandum is the only official public proof so far that a decision exists.