The Federal Government has officially appointed Mr. Imran Sarwar as the new President and Chief Executive Officer (CEO) of the National Bank of Pakistan (NBP). The Finance Division’s Internal Finance Wing recently issued the formal notification. Therefore, Sarwar will serve a three-year term with immediate effect.
Amna Shabbir, Deputy Secretary to the Government of Pakistan, signed the notification. Furthermore, the appointment falls under Section 11(3)(a) of the Banks (Nationalization) Act, 1974. The official file reference is F.No.1(9)Bkg-III/2022-696. The official gazette will publish this notification in Part-III shortly.
Imran Sarwar Becomes CEO of NBP: A Rigorous Selection Process
This official announcement follows a “Secret/Immediate” Cabinet Division memo from Tuesday. That memo confirmed the cabinet’s decision but withheld the candidate’s name until today’s formal notification.
The government initiated the search for a new NBP head in mid-June 2026. Previously, Rehmat Ali Hasnie held the position. However, his final extension expired on August 21. Since then, NBP Chief Financial Officer Abdul Wahid Sethi managed the bank on an interim basis.
During mid-August, a panel chaired by the Finance Minister interviewed nine candidates for the top job. Ultimately, Sarwar beat prominent rivals for the position. His closest competitors included Zafar Masud, President and CEO of the Bank of Punjab, and Hassan Raza, Managing Director and CEO of the Bank of Khyber.
A Strong Banking Background
Imran Sarwar brings more than 27 years of extensive banking experience. Specifically, he has held leadership, strategy, and risk roles across markets in Pakistan, the UAE, the UK, and Australia.
Most recently, he worked at United Bank Limited (UBL). There, he served as the Group Executive for Risk and Credit Policy and as the Chief Risk Officer. He successfully oversaw the bank’s risk architecture and credit policy framework. Before joining UBL, he held multiple senior positions at Standard Chartered Bank. His tenure there peaked as the Managing Director and Head of Corporate Banking for the UAE.
Additionally, Sarwar holds valuable board experience. He currently holds directorships at Khushhali Microfinance Bank and the Pakistan Mortgage Refinance Company (PMRC).
On the academic front, he earned a business and accounting degree from Ohio Wesleyan University in the United States. He also holds an LLB from the University of Punjab. Consequently, colleagues praise this unique combination of risk and law for shaping his strong credit-governance approach.
Market Expectations
Now, financial markets will closely watch Sarwar’s upcoming moves. Investors are waiting for his first public remarks regarding NBP’s loan-book cleanup and overall governance agenda. His predecessor successfully advanced these specific priorities during his tenure. Finally, the market eagerly anticipates a formal board or Pakistan Stock Exchange (PSX) disclosure to formalize his transition into this major role.
