The federal government has appointed Imran Sarwar as president and chief executive officer of the National Bank of Pakistan for three years.
The appointment takes effect immediately and ends a leadership transition after former president Rehmat Ali Hasnie’s departure in August.
Government issues formal appointment notification
The Finance Division’s Internal Finance Wing confirmed Sarwar’s appointment in a notification dated September 3, 2026. It is marked for publication in Part-III of the Gazette of Pakistan.
The government made the appointment under Section 11(3)(a) of the Banks (Nationalization) Act, 1974. The notification carries file number F.No.1(9)Bkg-III/2022-696.
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Amna Shabbir, Deputy Secretary to the Government of Pakistan, signed the order.
The notification followed a Cabinet Division memorandum issued on September 2. That document confirmed the cabinet’s decision but did not publicly identify the selected candidate.
Sarwar will now take charge of Pakistan’s largest state-owned bank. NBP reported a half-year pre-tax profit of Rs33.9 billion, up 21 percent from the corresponding period.
Cross-border banking and risk experience
Sarwar moves to NBP from United Bank Limited, where he served as Group Executive for Risk and Credit Policy and Group Chief Risk Officer. He oversaw the bank’s risk architecture, regulatory compliance, underwriting strategy and credit policy framework.
He brings more than 27 years of banking leadership, strategy and risk experience. His career spans Pakistan, the United Arab Emirates, the United Kingdom and Australia.
Before joining UBL in August 2017, Sarwar held senior positions at Standard Chartered Bank in Pakistan and the UAE. His role there was Managing Director and Head of Corporate and Institutional Banking for the UAE.
Sarwar has also served on the boards of Khushhali Microfinance Bank and the Pakistan Mortgage Refinance Company. His Khushhali profile also lists directorships at UBL Bank Tanzania and UBL Funds.
His work has included setting risk policies, developing governance frameworks and embedding operational, market and information technology risk functions. The experience gives him a strong background in credit oversight and cross-border banking operations.
Sarwar holds a degree in business and accounting from Ohio Wesleyan University in the United States. He also earned an LLB from Punjab University Law College. The combination of risk expertise and legal training has shaped his approach to credit governance.
Appointment concludes competitive selection
The Finance Division launched the recruitment process on June 14. Its advertisement sought a “dynamic, qualified, and high-caliber corporate leader” to head NBP.
Hasnie’s three-year term ended in August after the government granted him a final two-week extension. That extension expired on August 21.
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NBP Chief Financial Officer Abdul Wahid Sethi then assumed temporary charge as acting president and CEO. The Finance Division limited the arrangement to three months or until the appointment of a permanent chief.
A panel chaired by the finance minister interviewed nine candidates in mid-August. Other leading contenders included Bank of Punjab President Zafar Masud and Bank of Khyber chief Hassan Raza.
