U Microfinance Bank appoints CEO

KARACHI: U Microfinance Bank, a subsidiary of PTCL Group, the largest ICT services provider in Pakistan, announced on Thursday the appointment of Mohamed Essa Al Taheri as its new acting President and CEO.

Al Taheri, who has been a member of the bank's board of directors, replaces Kabeer Naqvi, who resigned from his position. Al Taheri has over 20 years of experience in the financial sector, including roles at e& Group, HSBC Bank, Dubai Commercial Bank, and the Development Board of the Dubai Government. Hatem Bamatraf, President and Group CEO of PTCL & Ufone 4G and Chairman of the Board of Governors of U Microfinance Bank, welcomed Al Taheri and thanked Naqvi for his years of service. He also expressed his commitment to support Al Taheri in sustaining the bank's growth trajectory. U Microfinance Bank, which offers digital banking solutions to low-income segments of the population, has shown impressive financial performance and innovation under PTCL Group's backing. The bank aims to continue its digital transformation and expand its outreach and impact.