Raza resigns as NBP president


The President of National Bank of Pakistan (NBP) Syed Ali Raza has tendered his resignation with immediate effect, the industry sources told Profit. They said the federal government has accepted the resignation of Raza whose immediate sacking had been ordered by the Supreme Court of Pakistan in its January 14th decree. The apex court’s order came in view of the banker’s appointment as President NBP for the fifth consecutive time.
Also, the bank confirmed the reports by sharing a materilal infomration with its shareholders at the country’s three stock exchanges in Karachi, Islamabad and Lahore on Wednesday. “The federal government has accepted the resignation of Mr S Ali Raza,” said bank’s secretary SM Ali Zamin, in a notice to the Karachi Stock Exchange here. Raza, a senior banker, stepped down as a chairman Board of Directors of the bank with immediate effect, the secretary said.