Cabinet Set to Approve New CEO for EXIM Bank

The Federal Cabinet will approve names forwarded by the Finance Minister for the position of CEO/President of EXIM Bank. Sources told ProPakistani that the Ministry of Finance has shortlisted three candidates for the top post of CEO/President of the Export-Import Bank of Pakistan (EXIM Bank), more than eight months after the position fell vacant. The shortlisted candidates, Shahbaz H. Syed, Aamir Khan, and Abdul Hafeez, have been included in a summary sent to the federal cabinet for final approval, sources said. The key leadership post has remained unfilled since August 6, 2024, following the completion of Irfan Bukhari’s three-year tenure. Owned entirely by the federal government, EXIM Bank is a development finance institution mandated to boost export growth and promote import-substitution initiatives. Its financial instruments, ranging from credit insurance to export refinancing, are aimed at leveling the playing field for Pakistani exporters competing with rivals backed by well-established EXIM agencies abroad. The bank’s profile has recently risen following a key decision by the Economic Coordination Committee (ECC), which approved the phased transfer of SBP’s Long-Term Financing Facility (LTFF) portfolio, worth Rs. 330 billion, to EXIM Bank. A technical supplementary grant of Rs. 1 billion was also sanctioned to cover subsidy requirements for the fiscal year 2024-25 under the new LTFF structure. With the bank playing an increasingly pivotal role in trade financing and foreign exchange savings through import substitution, the government’s pick for the CEO position is expected to shape its trajectory for years to come. Ends