Ali Raza tenders resignation
March 08, 2012
KARACHI: The federal government has accepted the resignation of S. Ali Raza, chairman of the board of directors of the National Bank of Pakistan (NBP) with immediate effect, said the Bank in a notice to the Karachi Stock Exchange on Wednesday.
Raza was appointed as chairman of the board for a three-year term in April 2011. He tendered the resignation many weeks ago. Mr. Raza told to The News that he decided to quit the position two years before the completion of the term to do something in the private sector. “Although there was no conflict of interest while doing something in the private sector even as chairman of NBP, I opted to relinquish.”
He said that he would disclose his future plans in the near future. Before being appointed as chairman, he served the National Bank as president and acting chairman for over 10-and-half-year period – from 2000 to 2010. In first quarter of the calendar year 2011, he was removed on technical grounds from the post of president on the directive of the Supreme Court.
Mr. Raza is son of the first commissioner of Karachi Syed Hashim Raza – who also served as civil servant of Indian in pre-partition times – and younger brother of former governor of State Bank of Pakistan, Syed Salim Raza.
Raza specialized in Monetary Economics from London School of Economics (LSE) in early 70s. He stepped into the professional world with his first job at multinational Bank of America in 1974. In 2005, he was ranked among top 25 corporate leaders in the Asia by the prestigious ‘Business Week’ magazine and known as a successful banker in the contemporary world.
Raza was appointed as chairman of the board for a three-year term in April 2011. He tendered the resignation many weeks ago. Mr. Raza told to The News that he decided to quit the position two years before the completion of the term to do something in the private sector. “Although there was no conflict of interest while doing something in the private sector even as chairman of NBP, I opted to relinquish.”
He said that he would disclose his future plans in the near future. Before being appointed as chairman, he served the National Bank as president and acting chairman for over 10-and-half-year period – from 2000 to 2010. In first quarter of the calendar year 2011, he was removed on technical grounds from the post of president on the directive of the Supreme Court.
Mr. Raza is son of the first commissioner of Karachi Syed Hashim Raza – who also served as civil servant of Indian in pre-partition times – and younger brother of former governor of State Bank of Pakistan, Syed Salim Raza.
Raza specialized in Monetary Economics from London School of Economics (LSE) in early 70s. He stepped into the professional world with his first job at multinational Bank of America in 1974. In 2005, he was ranked among top 25 corporate leaders in the Asia by the prestigious ‘Business Week’ magazine and known as a successful banker in the contemporary world.
