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51 Days After Appointment, New President Of ZTBL Fails To Assume Charge

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New CEO and President of Zarai Taraqiati Bank Limited (ZTBL) Adnan Ghani who was appointed by Finance division of the government of  Pakistan in February, has not assumed charge even 51 days after his appointment, a source in the ZTBL disclosed.

Ghani is a dual national and lives abroad. He is yet to return to Pakistan and no one in the bank has been contacted by their new CEO so far.

In October last year, the then CEO Talat Mehmood was fired by the government on allegations of corruption and misuse of authority. “Despite appointment of the new CEO, the ZTBL is running its affairs without his involvement because he has not taken charge”, the source said.

A notification issued by the Finance Division of government of Pakistan on 20th February, a copy of which is available with Naya Daur stated, “In pursuance of Federal Cabinet’s decision taken in its meeting held on February 14, 2019 in case No 173/ 08/2019 the Federal government is pleased to appoint Mr. Adnan Ghani as President/CEO of ZTBL for a period of three years.”

A document available with Naya Daur added that State Bank of Pakistan (SBP) did not prefer the name of Adnan Ghani as he is not a professional banker due to his background of trade related banking. His dual nationality was also a cause of concern for the SBP.

A senior official serving in State Bank for a couple of years told Naya Daur that the management opposed the name of Adnan Ghani on grounds that he was not suitable for this post. “There were other deserving candidates, but the government ignored them”, he added.

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Meanwhile, a local publication reported that the Ministry of Finance, after consultations with the SBP, has finalized three names for the slot of President and CEO ZTBL. The names of Adnan Ghani, Muhammad Shahbaz Jameel and Sheikh Aman Ullah have been shortlisted for the post.

The slot of President ZTBL Bank fell vacant after the termination of former President and CEO ZTBL Syed Talat Mahmood in October last year and the government had given the acting charge to Sheikh Aman Ullah.

Shahbaz Jameel, who is serving in BOK and is known to be an able banker, was favoured by the State Bank of Pakistan for the position but the government ignored him.

Despite repeated attempts to reach them, Finance Minister Asad Umar and spokesperson Khaqan Najeeb were unavailable for comments.

But an official of the Finance Ministry, on the condition of anonymity, told that ZTBL raised the issue of new CEO’s absence with the ministry. But the officials in the ministry have been barred from commenting on the issue.

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