BankIslami Pakistan Limited announced that its current President & Chief Executive Officer, Syed Amir Ali, will not seek reappointment upon the completion of his current term of employment on September 28, 2023. Subsequently, in a Board of Directors meeting held on July 25, 2023, the Bank appointed Mr. Rizwan Ata as the Deputy CEO, effective from July 25, 2023. After Syed Amir Ali's tenure concludes, Mr. Rizwan Ata will assume the position of President, commencing from September 29, 2023, for a term of three years, as per the Board's decision.

However, this appointment is subject to clearance from the State Bank of Pakistan's Financial Policy & Regulation Department. Mr. Rizwan Ata brings a wealth of experience in the field of Islamic banking, spanning over two decades. Currently, he serves BankIslami Pakistan Limited as Group Head, Distribution, and is highly regarded for his expertise in the banking sector.

The transition in leadership comes at a significant juncture for BankIslami as it looks to maintain its strong standing in the market and continue providing exemplary banking services adhering to Islamic principles. As the banking community awaits FPT clearance from the State Bank of Pakistan, all eyes are on Mr. Rizwan Ata, the seasoned banker, to take on the role of President and lead BankIslami towards a successful and progressive future. His extensive experience and track record in Islamic banking make him a suitable successor, ensuring continuity and innovation for the bank's operations.