Imran Sarwar has been appointed as President and Chief Executive Officer of National Bank of Pakistan (NBP) for a three year term with immediate effect, according to a notification issued by the Finance Division on September 3, 2026. The notification, issued through the Internal Finance Wing and marked for publication in the Official Gazette of Pakistan Part III, formally confirms the federal government’s decision regarding the leadership of the country’s largest state owned bank. The appointment was made under Section 11(3)(a) of the Banks (Nationalization) Act, 1974, under file number F.No.1(9)Bkg-III/2022-696, and was signed by Amna Shabbir, Deputy Secretary to the Government of Pakistan.
The appointment follows a Cabinet Division memorandum issued on September 2, which confirmed that the federal cabinet had reached a decision on the appointment of NBP’s President and CEO but did not disclose the identity of the selected candidate. The memorandum had directed the Finance Division to initiate implementation of the decision immediately and coordinate with other relevant divisions where required. The subsequent Finance Division notification has now formally identified Imran Sarwar as the government’s choice to lead NBP, ending the uncertainty surrounding the bank’s permanent leadership following the departure of former President and CEO Rehmat Ali Hasnie.
Sarwar joins NBP from United Bank Limited (UBL), where he served as Group Executive, Risk and Credit Policy and Chief Risk Officer. During his tenure at UBL, he was responsible for the bank’s risk architecture and credit policy framework, giving him extensive experience in areas directly relevant to the management and governance of a large financial institution. His professional background spans more than 27 years across leadership, strategy and risk management roles in banking markets including Pakistan, the United Arab Emirates, the United Kingdom and Australia.
Before joining UBL, Sarwar held several senior positions at Standard Chartered Bank. His most recent position at the bank was Managing Director and Head of Corporate Banking for the UAE, following a series of senior roles across its operations in the UAE and Pakistan. His career has therefore included responsibilities covering corporate banking, risk management, credit policy and strategic leadership across multiple banking markets. This experience is expected to form part of the professional background he brings to his new role at NBP.
Sarwar also has experience serving on corporate and financial sector boards. His directorships have included Khushhali Microfinance Bank and the Pakistan Mortgage Refinance Company (PMRC), where his professional profile highlights his involvement in risk policy and governance frameworks. His experience across banking institutions and boards has provided exposure to credit governance, risk oversight and institutional management. These areas are particularly relevant to NBP as the bank continues to manage its broader governance and balance sheet priorities.
On the academic side, Sarwar holds a business and accounting degree from Ohio Wesleyan University in the United States and an LLB from the University of Punjab. His educational background combines business, accounting, risk and legal studies, complementing his extensive professional experience in banking and financial services. His combination of banking leadership and risk management experience comes as NBP transitions to permanent leadership following a period of interim management.
The appointment concludes a selection process that began in mid June after Rehmat Ali Hasnie’s tenure ended following a final extension that expired on August 21. During the interim period, NBP Chief Financial Officer Abdul Wahid Sethi was assigned acting charge of the bank. The Finance Division had launched the search for a permanent President and CEO and shortlisted nine candidates for interviews conducted by a panel chaired by the Finance Minister in mid August. Among the prominent candidates were Zafar Masud, President and CEO of Bank of Punjab, and Hassan Raza, Managing Director and CEO of Bank of Khyber.
With Sarwar now formally appointed for three years, attention will turn to his priorities at NBP, particularly regarding the bank’s loan book, governance framework and ongoing management agenda. His background in risk and credit policy at UBL, combined with senior corporate banking experience at Standard Chartered and board level exposure, gives him a substantial banking sector background as he takes charge of NBP. The formal notification brings the leadership transition to an end and establishes Sarwar as the permanent President and CEO of National Bank of Pakistan with immediate effect.
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