Dubai Islamic Bank New CEO Muhammad Ali Gulfaraz Takes Charge

Dubai Islamic Bank Pakistan Limited has appointed Muhammad Ali Gulfaraz as its new Chief Executive Officer, effective May 2, 2025, strengthening its leadership with his extensive banking experience.

The Dubai Islamic Bank new CEO, Muhammad Ali Gulfaraz, brings over 25 years of diverse international and domestic banking expertise to the organization. His specialties span corporate and investment banking, strategic planning, risk management, and digital transformation initiatives across markets in the UK, Europe, and Pakistan.

Gulfaraz has previously held senior leadership positions in several major financial institutions. Most notably, he served as the CEO and Managing Director of Bank of Khyber, where he spearheaded significant reforms in digitalization, governance, and operations.

Prior to his leadership roles in Pakistan, the Dubai Islamic Bank new CEO spent a decade with Mizuho Corporate Bank in London, serving as Managing Director and Head of Corporate & Investment Banking for the UK, Ireland, and Nordic regions. He also worked with Bank of America in London for over ten years, culminating in his role as Principal in Global Corporate & Investment Banking.

In addition to his corporate achievements, Gulfaraz held key executive roles at the Fauji Foundation and developed expertise in areas such as consumer finance, retail services, credit risk assessment, and portfolio management.

Gulfaraz holds a Bachelor’s degree in Economics and a Master’s degree in Agricultural and Managerial Economics with a focus on Finance from the University of California, Davis. An alumnus of Cadet College Hasan Abdal, he has also completed professional training programs in London, Tokyo, and San Francisco.