MCB Bank Ltd has appointed Shoaib Mumtaz as Acting President and CEO. The man who has been associated with MCB for over 15 years will assume the charge on December 21, 2021.
Currently working as SEVP – Group Head Wholesale & International Banking, Shoaib Mumtaz has served various international markets, including in UAE and Bahrain, as the MCB country manager.
Imran Maqbool, the incumbent CEO and President MCB, is going to complete his term on December 20. He has completed his three terms at MCB from 2012 to 2021.
The outgoing president transformed the bank into the most profitable bank of Pakistan in 2018 and 2019. During his term, he successfully expanded the bank operations and maintained the staggering profitability of the bank.
Imran Maqbool’s notable contributions to MCB include the amalgamation and merger of NIB Bank and the establishment of a separate subsidiary for Islamic banking, MCB Islamic Bank. He was one of the highly paid bankers of Pakistan’s banking industry.
He also served as director of various companies including Adamjee Insurance. It is to note that the age for a bank’s CEO and President has recently been restricted to a maximum of 65 years.
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