BankIslami Pakistan Limited has confirmed that Imran Haleem Shaikh will take charge as President and Chief Executive Officer of the bank from September 29, 2026. The appointment marks a change at the top of the bank’s management, with Shaikh succeeding Rizwan Ata, whose current three-year term as President and CEO concludes on September 28, 2026. BankIslami communicated the latest development to the Pakistan Stock Exchange, confirming the effective date for Shaikh’s assumption of the new role.
The latest disclosure follows an earlier announcement by BankIslami’s board of directors regarding the planned transition in the bank’s senior management. In its August 10 disclosure, the bank stated that the board had agreed for Rizwan Ata to continue serving as President and CEO until completion of his existing three-year term. The term was scheduled to end on September 28, after which Shaikh was set to assume responsibility for the bank’s executive leadership.
Shaikh has been serving as Deputy Chief Executive Officer of BankIslami and was selected by the board to become the incoming President and CEO. His appointment was approved for an initial three-year term beginning September 29, 2026. At the time of the initial announcement, BankIslami said the appointment remained subject to the required regulatory clearance from the State Bank of Pakistan. The latest intimation from the bank confirms that Shaikh will formally take charge of the position from the stated date.
The management transition comes as BankIslami continues its operations within Pakistan’s Islamic banking sector, where executive leadership changes are subject to regulatory requirements and board-level decisions. The appointment of an internal senior executive to the top position provides continuity in the bank’s management structure, as Shaikh moves from his role as Deputy Chief Executive Officer to President and Chief Executive Officer. The bank’s disclosure did not indicate any change to the previously announced three-year duration of his appointment.
Rizwan Ata is set to complete his three-year tenure as President and CEO on September 28, bringing his current term to an end immediately before the leadership transition. According to the earlier board disclosure, BankIslami’s board recognised and appreciated Ata’s efforts during his time leading the institution. The bank’s latest announcement formally establishes September 29 as the date on which Shaikh will assume the responsibilities associated with the President and CEO position.
The transition was first communicated to the market in August, giving shareholders and other stakeholders advance notice of the planned change in leadership. The latest disclosure provides confirmation that the previously announced succession arrangement will proceed as scheduled. Shaikh’s appointment follows his service as Deputy Chief Executive Officer, positioning him to move directly into the bank’s highest executive role.
With Shaikh taking charge, BankIslami will enter a new phase of executive leadership from September 29, while the bank’s board-appointed management structure remains in place. The development has been formally communicated through the Pakistan Stock Exchange, ensuring that investors and market participants are informed about the change. The three-year appointment announced by the board will make Shaikh responsible for leading BankIslami as President and CEO from September 29, 2026.
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