Pakistan Banks Association Elects Zafar Masud as Chairman, Announces New 16-Member Executive Committee

The Pakistan Banks Association (PBA) has entered a new phase of leadership and governance after electing a 16-member Executive Committee, marking a significant step toward greater inclusivity, broader industry representation, and modern governance in Pakistan’s banking sector.

Following the elections, the newly formed Executive Committee unanimously elected Mr. Zafar Masud, President and Chief Executive Officer of The Bank of Punjab, as Chairman of the Pakistan Banks Association.

This development comes at a critical time when Pakistan’s banking sector is expected to play a central role in economic stabilization, financial inclusion, and digital transformation.

Pakistan Banks Association Announces New Leadership

The Pakistan Banks Association, which represents the country’s commercial banking industry, confirmed that the new Executive Committee includes 16 members, featuring:

• Two female members
• Eight newly inducted member banks
• Representation from leading public and private sector banks

This expanded committee reflects a strategic shift toward diversity, inclusion, and wider industry participation.

Zafar Masud Elected Chairman of Pakistan Banks Association

After the committee’s formation, members unanimously elected Mr. Zafar Masud as Chairman of the PBA.

Who Is Zafar Masud?

• President & CEO, The Bank of Punjab
• Experienced banker and policy advocate
• Known for institutional reforms and governance focus

His election is being viewed as a confidence vote in experienced, reform-oriented leadership.

Zafar Masud’s Vision for Pakistan’s Banking Sector

Speaking after his election, Zafar Masud described the new Executive Committee as an important evolution in PBA governance.

Key Priorities Highlighted by Zafar Masud

• Advancing a National Economic Agenda
• Bridging credit gaps in priority sectors
• Supporting SMEs and agriculture financing
• Accelerating financial inclusion through digital channels
• Supporting sustainable economic recovery

He emphasized that the expanded and diverse membership will strengthen PBA’s capacity to contribute meaningfully to national economic goals.

New PBA Leadership Team Announced

Alongside Zafar Masud’s election as Chairman, the PBA also announced other key leadership positions.

PBA Office Bearers

• Senior Vice Chairman:
  Mr. Nassir Salim, President & CEO, Habib Bank Limited
• Vice Chairman:
  Mr. Yousaf Hussain, President & CEO, Faysal Bank Limited

This leadership trio brings together experience from Pakistan’s largest and most influential banks.

Nassir Salim Emphasizes Resilience and Compliance

Senior Vice Chairman Nassir Salim highlighted the importance of resilience and strong compliance frameworks.

His Key Observations

• Global economic headwinds require robust risk management
• Compliance standards must remain strong
• Banks must protect stability while supporting growth

His remarks underline the importance of financial discipline and regulatory alignment in uncertain global conditions.

Yousaf Hussain Focuses on Technology and Modernization

Vice Chairman Yousaf Hussain stressed that the future of banking depends on modernization and technology adoption.

Areas of Focus

• Digital banking solutions
• Agility in operations
• Innovation in products and services
• Regional competitiveness

He noted that Pakistani banks must stay technologically relevant to compete locally and regionally.

Historic Inclusion of Female Representation in PBA

One of the most notable developments is the inclusion of female members in the PBA Executive Committee.

Why This Matters

• First-ever female representation at this level
• Signals commitment to gender diversity
• Aligns with global best governance practices

Mr. Muneer Kamal, CEO and Secretary General of PBA, described this as a historic milestone.

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Statement by PBA Secretary General Muneer Kamal

Commenting on the expanded committee, Muneer Kamal said the move reflects PBA’s commitment to:

• Modern governance
• Diversity and inclusion
• Stronger industry representation

He noted that diverse leadership helps the association better understand and address sector-wide challenges.

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16-Member Executive Committee – A Strategic Expansion

The expansion of the Executive Committee to 16 members, including eight new banks, reflects an effort to:

• Broaden representation
• Include emerging and mid-sized banks
• Improve policy dialogue

This ensures that policy advocacy is not limited to a few large institutions.

PBA’s Role in Pakistan’s Economic Recovery

Under the new leadership, the PBA aims to play a stronger policy and advocacy role.

Key Economic Focus Areas

• Infrastructure financing
• Private sector credit growth
• SME and agriculture lending
• Digital financial services

Banks are expected to become active partners in Pakistan’s economic revival.

Strengthening Collaboration With State Institutions

The PBA plans to deepen engagement with:

• State Bank of Pakistan (SBP)
• Ministry of Finance
• Federal Government

Purpose of Collaboration

• Align banking policies with national goals
• Support regulatory reforms
• Improve credit flow to productive sectors

This coordination is crucial for long-term stability.

Expanding Credit for SMEs and Agriculture

One of the central objectives under the new PBA leadership is bridging the credit gap in underserved sectors.

Why SMEs and Agriculture Matter

• Backbone of Pakistan’s economy
• Major source of employment
• Historically under-financed

The PBA wants banks to design innovative lending products for these sectors.

Driving Financial Inclusion Through Digital Channels

Financial inclusion remains a national priority, and the PBA plans to push banks toward digital solutions.

Digital Banking Goals

• Mobile banking expansion
• Branchless banking growth
• Digital wallets and payments
• Onboarding unbanked populations

Digital channels are seen as the fastest way to include millions of Pakistanis in the formal financial system.

Supporting Pakistan’s Digital Transformation

The banking sector is central to Pakistan’s digital economy roadmap.

Under the new leadership, banks will focus on:

• Fintech collaboration
• Secure digital infrastructure
• Data-driven decision-making

Modern banking systems are essential for economic competitiveness.

Why This Leadership Change Is Important

The election of Zafar Masud and the new Executive Committee signals:

• Institutional renewal
• Progressive governance
• Broader participation

It reflects a forward-looking approach in a time of economic challenge.

Banking Sector Challenges Ahead

Despite the positive momentum, challenges remain:

• High interest rate environment
• Credit risk management
• Regulatory compliance
• Global economic uncertainty

Strong leadership will be key in navigating these issues.

Industry Reaction and Outlook

Banking professionals and analysts have welcomed:

• The inclusive committee structure
• Experienced leadership
• Focus on reform and innovation

Many see this as a reset moment for industry coordination.

Conclusion

The Pakistan Banks Association’s election of Zafar Masud as Chairman and the formation of a diverse 16-member Executive Committee mark a significant step forward for Pakistan’s banking sector. With a strong focus on financial inclusion, digital transformation, SME financing, and policy collaboration, the new leadership aims to position banks as drivers of sustainable economic growth.

As Pakistan navigates complex economic challenges, an active, inclusive, and reform-oriented PBA could play a decisive role in shaping the country’s financial future.

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