Home News Analysis Tariq Jamali appointed as acting president/CEO of National Bank of Pakistan

Tariq Jamali appointed as acting president/CEO of National Bank of Pakistan

Tariq Jamali
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News Desk |

The Ministry of Finance, Government of Pakistan has appointed Mr. Tariq Jamali, Senior Executive Vice President as the Acting President/Chief Executive Officer of National Bank of Pakistan on Wednesday, 29th August.

The federal cabinet on Tuesday, 28th of August, suspended National Bank of Pakistan President Saeed Ahmad on the National Accountability Bureau’s (NAB) request. NAB had requested the cabinet for suspension of Mr. Saeed on the count of facilitating money laundering. The former NBP President is co-accused with two other persons. On Wednesday, the National Bank issued a press release highlighting the notification of appointment of an acting President, Mr. Tariq Jamali.

According to the press release,

The cabinet approved removal of National Bank of Pakistan President Saeed Ahmed Khan citing a pending case against him for his alleged involvement in the aforementioned money laundering.

Mr. Jamali, the notification said, joined NBP in 1987 and has held various Senior Management positions at Regional and Head Office levels. During his career at NBP he has served as Group Chief of Logistics Support Group, Commercial and Retail Banking Group and Compliance Group. Presently, he was serving as Group Chief, Asset & Recovery Group. He is also Director of National Assets Insurance Ltd, Atlas Power Ltd, Fatima Fertilizer Company Ltd, Galadari Cement Gulf Ltd, Karachi Council on Foreign Relations and National Construction Ltd.

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He holds an MBA degree from University of Dallas and Bachelors in Civil Engineering from USA. For the former president of the bank, the accountability watchdog has nominated him in a reference filed mainly against former finance minister Ishaq Dar. However, the court has already exonerated Saeed Ahmad on charges of money-laundering. Nevertheless, he continues to face allegations of aiding and abetting Dar in laundering the money, local publications reported.

The former NBP President is co-accused with two other persons. On Wednesday, the National Bank issued a press release highlighting the notification of appointment of an acting President, Mr. Tariq Jamali.

After the cabinet meeting that exonerated Mr. Ahmad, the Information Minister Fawad Chaudhry told the press that the NAB had taken a plea in letters written to the finance ministry that Mr. Saeed Ahmad could possibly influence the ongoing investigations. The cabinet approved the removal of National Bank of Pakistan President Saeed Ahmed Khan citing a pending case against him for his alleged involvement in the aforementioned money laundering.

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The Ministry of Finance had also made attempts during the caretaker government period to suspend Ahmad. But caretaker Prime Minister Nasirul Mulk blocked the move, saying that it would be unjust to remove Ahmad until he was convicted by the court.

In 2014, Ahmad was appointed as deputy governor of the central bank for two years. In March 2017, the PML-N government appointed Ahmad as president for a period of almost 22 months. National Bank of Pakistan is one of the three largest banks in Pakistan.


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1 COMMENT

  1. National Bank of Pakistan has history of mega corruptions, frauds and forgeries, abuse of authorities in which several of its,Presidents & senior executives,removed and sent on trials who even today facing serious criminal cases in various courts. In this scenario present change in its incumbency is also not without grave risk as here to past is tainted.

    Earlier also several serious incidents of far reaching consequences were purposely shelved and law enforcers too kept their eyes closed. Prominent among them is clandestinely selling lucrative UK businesses and operations of this premier public sector bank to a private bank viz., United Bank Ltd. Earlier in similar way lucrative routes and businesses of state run PIA were sold to foreign airlines. Further bank incurred huge losses in sale purchase of Euro bonds in Hongkong, Bahrain, Paris and Tokyo. The.Bahrain office was also involved in large scale money laundering, opening of dubious accounts, sale purchase of foreign currency etcspecially from 1998 but it’s Head was kept unchanged for obvious reasons.

    I wonder if in present sweep the above matters are also investigated.

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