In a significant development for Askari Bank Limited (AKBL), Zia Ijaz has officially received clearance from the State Bank of Pakistan (SBP) for the Fit & Proper Test (FPT), confirming his appointment as the bank’s new President and Chief Executive Officer (CEO). The announcement, made on Friday, was disclosed to the Pakistan Stock Exchange (PSX), marking the final step in Ijaz’s appointment process.
The official notice from the bank confirmed that the SBP granted the FPT clearance, allowing Ijaz to officially take over the helm of AKBL, effective Monday, February 17, 2025. This clearance follows the approval of his appointment by the Board of Directors (BoD) of AKBL, which took place in January 2025. At that time, Ijaz’s appointment as President and CEO for a three-year term was made contingent upon receiving the FPT clearance from the central bank and complying with all the relevant legal and regulatory requirements.
Ijaz, who brings more than three decades of diverse banking experience to his new role, has a robust background in the financial industry. Before stepping into his new position at Askari Bank, he held senior leadership roles in multiple esteemed financial institutions. He previously served as the Deputy CEO of UBL Limited, where he also led the Branch Banking and International Business Groups. Ijaz’s extensive banking career also includes more than 12 years at Allied Bank (ABL), where he held various senior positions, including Chief Financial Officer (CFO) and Group Chief of Commercial & Retail Banking, as well as Group Chief of Operations.
Prior to his banking career, Ijaz worked at Ford Rhodes Sidat Hyder & Co., a member of Ernst & Young, gaining valuable experience in finance and business consulting. His leadership roles and comprehensive experience in the banking sector are expected to bring a fresh perspective and strategic vision to Askari Bank as it continues to strengthen its position in Pakistan’s competitive banking market.
Askari Bank, a subsidiary of the Fauji Foundation, was established in 1991 as a public limited company in Pakistan. It offers a broad range of services including conventional, corporate, Islamic, consumer, and agricultural banking through its network of 560 branches and sub-branches across the country. Under Ijaz’s leadership, AKBL is expected to continue expanding its offerings and services to better cater to the diverse financial needs of the Pakistani population.
This development is a part of AKBL’s strategic efforts to enhance its leadership and organizational effectiveness, ensuring the bank’s continued growth and stability. Zia Ijaz’s appointment as CEO aligns with the bank’s vision to offer innovative financial solutions and services that are accessible to both individuals and businesses throughout Pakistan.
With his wealth of experience and proven track record in the banking sector, Ijaz is well-positioned to lead Askari Bank into its next phase of growth, driving the institution’s mission to provide excellent financial services while contributing to Pakistan’s broader economic development. The bank’s stakeholders, including employees, customers, and investors, are likely to look forward to the positive changes and progress under his leadership in the coming years.