Lahore – April 15, 2025 — The Bank of Punjab (BOP) has announced the extension of Zafar Masud’s tenure as President and Chief Executive Officer until April 2026. This strategic decision was finalized during a board meeting on April 10, 2025, and has received formal approval from the Finance Department of Punjab.
This extension solidifies Masud’s leadership at one of Pakistan’s most dynamic financial institutions for another year, starting April 16, 2025. His reappointment reflects the Board’s confidence in his vision, expertise, and the transformative direction he has charted for the bank.
With over 32 years of extensive banking experience, Zafar Masud is a highly respected figure in both the national and international banking sectors. His career began at American Express in 1993, and he later held senior positions across leading global and regional financial institutions including Citibank, Barclays, Dubai Islamic Bank, Burj Capital, State Bank of Pakistan, National Bank of Pakistan, and Port Qasim Authority. This diverse background has shaped his multifaceted approach to leadership and financial innovation.
Since assuming the role of CEO at BOP, Masud has played a pivotal role in modernizing the bank’s infrastructure, implementing advanced digital banking initiatives, and streamlining operations for enhanced customer service and institutional efficiency. Under his leadership, the bank has not only strengthened its core banking services but has also taken significant steps toward financial inclusion and digital transformation.
His continued presence at the helm is seen as crucial for BOP’s strategic continuity and ongoing efforts in sustainable banking practices. Industry analysts and stakeholders widely regard Masud’s leadership as a major driving force behind the bank’s upward trajectory and its alignment with global banking standards.
Beyond his responsibilities at The Bank of Punjab, Zafar Masud currently serves as Chairman of Oil & Gas Development Company Ltd. (OGDCL), one of Pakistan’s largest public sector enterprises. This additional role underscores his versatility and strong leadership acumen across different sectors.
An MBA graduate in Banking from the Institute of Business Administration (IBA), Karachi, Masud also brings a unique cultural legacy as the son of the iconic TV actor and advertising personality Munawar Saeed. His personal and professional journeys reflect a blend of strategic thinking, cultural awareness, and corporate leadership.
The decision to extend his term arrives at a crucial time when the banking sector in Pakistan is facing rapid digital evolution, regulatory reforms, and shifting customer expectations. With Zafar Masud at the helm, The Bank of Punjab appears well-positioned to navigate these challenges and capitalize on emerging opportunities in the local and global banking landscapes.
The extension has been met with support and optimism from within the financial community, as well as from digital banking advocates who see Masud as a champion of modernization and progressive change.
Zafar Masud’s reappointment marks a continued commitment to innovation, customer-centric growth, and financial resilience at The Bank of Punjab.