Muhammad Aurangzeb has submitted his resignation as President and Chief Executive Officer (CEO) of Habib Bank Limited (HBL) following his appointment as a Federal Minister, with indications pointing towards him being assigned the finance portfolio.

In a statement to the Pakistan Stock Exchange (PSX), HBL, the country’s largest commercial bank, stated, “Muhammad Aurangzeb has tendered his resignation to the Board of Directors of Habib Bank Limited (“HBL”) and will step down as President & Chief Executive Officer of HBL,” as per the notice.

According to the notice, HBL’s Board of Directors has accepted Aurangzeb’s resignation, pending approval from the State Bank of Pakistan.

“Consequently, the Board of Directors of HBL has designated Muhammad Nassir Salim as the new President & Chief Executive Officer of HBL, subject to SBP’s approval,” the notice further stated.

Nassir Salim currently holds the position of Chief Operating Officer (COO) at HBL.

Nassir Salim’s Experience

As outlined on the CDC Pakistan website, Nassir possesses over 35 years of extensive experience in the banking industry, both domestically and internationally. He has been associated with HBL since 2017, serving as Head of Branch Banking and Islamic Banking since 2021.

Previously, he held the role of Head of Global Operations for 3 years. Additionally, he serves as Chairman of the Board for HBL Currency Exchange.

Before joining HBL, Nassir worked in various financial institutions globally, including as Head of Retail Operations for Abu Dhabi Islamic Bank (UAE) and Site President & Director for Treasury and Trade solutions for Citi Bank (USA). He also held the position of Chairman of the Board for NIFT.

Nassir Salim holds an MBA in Finance from the Institute of Business Administration (IBA) and is a fellow of the Institute of Bankers Pakistan (FIBP).

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