ISLAMABAD: The Federal Cabinet has scrapped selection process of President National Bank of Pakistan (NBP) after Finance Minister opposed name of Adnan Aly Agha for his purported “negative” antecedents, well informed sources told Business Recorder.
The President National Bank of Pakistan was appointed by the Federal Government, in consultation with State Bank of Pakistan, for a term of three years, as provided under Section 11(3) (a) of Banks (Nationalization) Act, 1974.
NBP president’s slot: Name proposed by FD not approved by Cabinet
On February 13, 2023, Finance Division informed the Cabinet that the position of President NBP was advertised in the national newspapers on February 13, 2022 and a Corrigendum was published on February 15, 2022.In response to the advertisement, one hundred twenty applications were received till the closing date, i.e., March 01, 2022 which were scrutinized by a short-listing committee headed by the Finance Secretary as notified on September 23, 2021.
The list of short-listed candidates, along with their CVs, were shared with SBP for consultation as required by the aforementioned provision of law. SBP cleared a total of 17 candidates who fulfilled the requirement of being professional bankers.
The selection committee held its meeting for interviewing the 17 candidates initially cleared by SBP on November 9, 2022.
Copyright Business Recorder, 2023
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