BankIslami Pakistan Limited has appointed Shahid Hussain Jatoi as Chairman of its Board of Directors following the election of a new board, while the bank has also announced a planned transition in its President and Chief Executive Officer position. The newly elected Board of Directors held its first meeting on August 10, 2026, during which it appointed Shahid Hussain Jatoi as Chairman of the Board with immediate effect. His appointment will be for a three year term. The development was communicated to the Pakistan Stock Exchange through a formal notice issued by the bank. The appointment marks the beginning of a new board leadership period at BankIslami as the institution prepares for a separate transition in its executive management. The board’s decision comes alongside arrangements for the conclusion of the current tenure of Rizwan Ata, who has been serving as President and Chief Executive Officer of the bank. BankIslami said the board recognised and appreciated Ata’s efforts and contribution during his tenure. His current three year term is scheduled to conclude on September 28, 2026, after which the bank is set to proceed with the next phase of its leadership structure.
In a separate decision taken during the same board meeting, BankIslami confirmed that Rizwan Ata will continue serving as President and Chief Executive Officer until the completion of his existing three year term on September 28, 2026. The arrangement ensures continuity in the bank’s executive leadership until the scheduled conclusion of his tenure. The board formally acknowledged Ata’s efforts during his time in the position, recognising his contribution to the institution before the planned change in executive leadership takes effect. The bank has simultaneously identified Imran Haleem Shaikh, who currently serves as Deputy Chief Executive Officer, as the incoming President and Chief Executive Officer. Shaikh has been appointed for a three year term beginning September 29, 2026, immediately following the completion of Ata’s current tenure. His selection from within the bank’s existing senior management structure provides for a planned succession rather than an immediate change in executive leadership. The transition is therefore expected to take place according to the schedule approved by the board, with Ata remaining in office through September 28 before Shaikh assumes the President and Chief Executive Officer position from the following day.
Imran Haleem Shaikh currently holds the position of Deputy Chief Executive Officer at BankIslami, and his appointment as incoming President and Chief Executive Officer represents the bank’s planned next stage of executive management. His three year term is scheduled to begin on September 29, 2026, although the appointment remains subject to the requisite regulatory clearance from the State Bank of Pakistan. The bank has specifically noted that Shaikh can take charge of the position only after the required regulatory process has been completed. This approval requirement is an important part of the transition process and means that the announced succession remains subject to the relevant regulatory conditions. Until the completion of Rizwan Ata’s current term, the existing executive leadership arrangement will remain in place. The planned transition subsequently provides a defined timetable for the handover of responsibilities from Ata to Shaikh. The board’s decision to appoint an existing Deputy Chief Executive Officer to the incoming position also establishes a succession plan within the bank’s current management structure, while the appointment of Shahid Hussain Jatoi as Chairman introduces a new leadership role at the board level.
The appointments were communicated through notices submitted to the Pakistan Stock Exchange, providing shareholders and market participants with details of the bank’s updated leadership arrangements. Shahid Hussain Jatoi’s appointment as Chairman became effective on August 10, 2026, the date of the board’s first meeting following the election of the new Board of Directors. His three year term will cover the board’s upcoming period, while the executive leadership transition is scheduled for the end of September. The two appointments therefore represent separate but connected elements of BankIslami’s leadership structure, with Jatoi taking responsibility as Chairman immediately and Shaikh preparing to assume the President and Chief Executive Officer role after Ata’s tenure ends. The bank’s recognition of Ata’s contribution also marks the conclusion of his current leadership period, while the succession plan provides clarity over who is expected to lead the institution at the executive level after September 28. The final effectiveness of Shaikh’s appointment remains dependent on regulatory clearance from the State Bank of Pakistan.
The leadership changes come as BankIslami prepares for a new three year management cycle at both board and executive levels. Shahid Hussain Jatoi will serve as Chairman for three years beginning August 10, while Imran Haleem Shaikh has been designated to serve as President and Chief Executive Officer for three years from September 29, subject to the required regulatory approval. Rizwan Ata will remain in his current position until September 28, allowing the bank to complete the existing tenure before the scheduled succession takes place. The decisions made by the newly elected Board of Directors establish a clear timeline for the transition and provide shareholders with visibility into the institution’s upcoming leadership structure. With the Chairman appointment already effective and the Chief Executive Officer transition scheduled for next month, BankIslami is moving toward a planned change in its senior leadership while maintaining continuity through the remainder of the current executive term. The appointments will now proceed according to the stated timelines and, in Shaikh’s case, the applicable regulatory clearance process.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.