Muhammad Shoaib Ibrahim elected chairman of NBFI & MAP

Business Recorder reported that Muhammad Shoaib Ibrahim, Chief Executive of First Habib Modaraba, has been elected chairman of the NBFI & Modaraba Association of Pakistan. Mian Faysal Riaz, Chief Operating Officer of OLP Financial Services Pakistan Limited, will serve as senior vice chairman, while Abdul Rauf Chandio, Chief Executive Officer of Sindh Modaraba, takes the vice chairman post. The office bearers have been chosen for the 2026-27 and 2027-28 years.

The new committee assumes office on October 1, 2026, and its two-year tenure runs until September 30, 2028. Waqas Ahmad Khwaja of OLP Modaraba, Javed Iqbal of Parwaaz Financial Services, Naweed Akhtar Sharif of Smart Finance, Faiq Sattar Khan of Asaan Ghar Finance, Syed Nouman Akhtar of Cordoba Financial Services, Shiraz Butt of First Punjab Modaraba and Azka Amin of PostEx Financial Services round out the executive committee.

A large number of CEOs and other sector executives attended the annual general meeting. Zulfikar Ali Shah, the DGTO appointed as election observer, was also present at the gathering.