Karachi, December 28, 2025 – The Pakistan Banks Association (PBA) has elected Zafar Masud, President and Chief Executive Officer of The Bank of Punjab, as its new Chairman, marking a significant leadership transition for the country’s banking industry.
In a meeting held on Sunday, the PBA also announced the formation of a newly constituted 16-member Executive Committee. The committee features two female members and includes eight newly inducted banks, reflecting a strategic move toward greater inclusivity, diversity, and wider representation across Pakistan’s banking sector.
Speaking on his election, Zafar Masud said the restructured Executive Committee represents a major step forward in strengthening the association’s governance framework. He emphasized that the expanded and diverse membership will enhance the PBA’s capacity to support a National Economic Agenda, focusing on narrowing credit gaps in priority sectors, promoting financial inclusion through digital banking channels, and contributing to Pakistan’s sustainable economic recovery.
The new leadership team also includes Nassir Salim, President and CEO of Habib Bank Limited, who has been elected as Senior Vice Chairman, and Yousaf Hussain, President and CEO of Faysal Bank Limited, who will serve as Vice Chairman of the association.
Commenting on the developments, Nassir Salim underscored the need for resilience and robust compliance systems in the face of ongoing global economic challenges. Meanwhile, Yousaf Hussain highlighted modernization, technology adoption, and organizational agility as key priorities to ensure Pakistan’s banking sector remains innovative and competitive at the regional level.
PBA Chief Executive Officer and Secretary General Muneer Kamal termed the expansion of the Executive Committee a milestone, noting that the inclusion of female representation demonstrates the association’s commitment to diversity and progressive governance.
Under the new leadership, the Pakistan Banks Association aims to strengthen collaboration with the State Bank of Pakistan, the Ministry of Finance, and the federal government. Key objectives include supporting infrastructure development, expanding private sector credit for agriculture and small and medium enterprises (SMEs), and accelerating Pakistan’s digital and financial transformation.