Apna Microfinance Bank Announces CEO Resignation and Interim Appointment

Karachi: Mr. Wajahat Malik has resigned from his positions as Chief Executive Officer and Director of Apna Microfinance Bank Limited (AMBL), effective September 21, 2024. The Board of Directors has accepted his resignation and announced that Mr. Mansoor Ahmad, the current Chief Financial Officer, will serve as the acting Chief Executive Officer until a new president is appointed.

Mr. Malik’s decision to step down was communicated through an official notice to the Pakistan Stock Exchange. Following this announcement, the bank’s leadership transition is expected to take place smoothly under the stewardship of Mr. Ahmad, who has been with AMBL in various capacities over the years.

According to information available from the Pakistan Stock Exchange (PSX), AMBL is positioned in the Financials sector, focusing on microfinance operations across various regions in Pakistan. The appointment of a new CEO is anticipated in the coming months as the board conducts a thorough search to find a suitable successor to lead the bank forward.

In the interim, Mr. Ahmad’s role as acting CEO will be crucial for maintaining the stability and ongoing operations of the bank. The Board of Directors has expressed confidence in his capabilities to manage the transition and continue the strategic initiatives set by his predecessor.

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