Khawaja Iqbal Hassan, President, chief executive and founder of NIB Bank Limited (NIB), has resigned from his post for reasons unknown.
“We write to inform you that Mr Khawaja Iqbal Hassan has submitted his resignation,” the bank informed its shareholders at the country’s three stock exchanges in Karachi, Lahore and Islamabad.
NIB’s Board of Directors accepted the resignation of Mr Hassan noting the “significant contributions” made by the founder of the bank to develop NIB into a respected brand name in the country.
The Board, the bank said, has designated Aamir Zahidi, an existing director of the bank, as the interim president and chief executive of the bank.
The President-designate would, however, formally be taking charge of the bank after the central bank approves his appointment and resignation of Mr Hassan, NIB said.