The Bank of Punjab will get to the next level as a reputed and one of the youngest banking professionals, Syed Mohammad Talib Rizvitakes over its charge as President and Chief Executive Officer
Islamabad (Pakistan Point News / Online - 22nd April, 2019) The Bank of Punjab will get to the next level as a reputed and one of the youngest banking professionals, Syed Mohammad Talib Rizvi takes over its charge as President and Chief Executive Officer.The appointment of Rizvi is already being widely appreciated by the economists, banking industry professionals as well as the industrialists, calling the merit-based appointment a good omen for the BoP.
Rizvi, a thorough banking professional with no political baggage, will promote a culture of meritocracy in the country. Himself being a private sector banker, it is expected that he will build a team of professionals who are specialists in their respective fields. This will go a long way in changing the culture of political appointees as was prevalent in the BoP.The last President Naeemuddin Khan, a political appointee stepped down only lately before his extended term ended on December 19, 2018.
The industry experts are of the opinion that itwas imperative for the bank to take a fresh start which fortunately it has.Earlier, Rizvi has been handling retail banking at three top banks - Bank Alfalah, Habib Metropolitan Bankand Dubai Islamic Bank - for over 11 years. Cumulatively, he has around 23 years of experience under his belt.He has also been able to get foreign funding from Abu Dhabi Group during his stint at Bank Alfalah Ltd.Rizvi assumes office with new challenges and targets for the Bank.
One of his first tasks will be to undertake a detailed portfolio-review in order to get the accurate picture. Under his leadership,it is also expected that the BoP will focus on present government's priority areas like SME lending - an area private banks are ignoring (for a variety of reasons) and thus it is up to government-owned banks especially National Bank of Pakistan and the BoP to take the lead. However, in order to get good results in the SME sector, the government will have to provide adequate infrastructure in the form of proper legislation and supporting Prudential Regulations for SMEs.
Rizvi's father was awarded Sitara-e-Imtiaz for his meritorious services to the country. Rizvi has no political affiliations and has risen in banking purely by dint of hard work and professionalism.He holds Masters in business Administration and Strategic Studies from the Quaid-e-Azam University. He also got foreign trainings from various prestigious Institutions such as INSEAD, Stanford, IFC and others.Established in 1989 with majority shareholding of the Punjab Government, the BoP played an instrumental role in the development of Country. However, because of the imprudent lending decisions of the management from 2004 to 2008, the reputation of the bank and financial position suffered badly and there was a decline in financial health of the Bank.
