Five things to know about former Careem Pay head Junaid Iqbal

Business Recorder reported that Junaid Iqbal, formerly head of Careem Pay, has been named president and CEO-designate of Engro Corporation Limited. He is scheduled to take over in April 2027, when the term of Ahsan Zafar Syed comes to an end. The appointment was announced in September 2026.

Iqbal's earlier roles included leading Careem's Pakistan operations, expanding into Saudi Arabia and heading Careem Pay globally. Careem grew considerably during his tenure, and Uber later completed a $3.1 billion acquisition of the company in 2020. Until he formally takes over, he will advise the chief executive of Engro Holdings and contribute to key strategic priorities.

Since leaving Careem, he has founded Salt Ventures, an investment firm backing tech startups, and Caravan Media, a media venture covering technology and economics, both based in Dubai. His early career included hosting Power Lunch on CNBC Pakistan, then serving as CEO of BMA Financial Services before joining Elixir Securities. The report also credits him with overseeing the sale of a 40% stake in HBL Bank by the Pakistani government for USD 1.02 billion.