Mashreq appoints CEO for Pakistan

KARACHI: Mashreq, one of the leading financial institutions in the Middle East and North Africa (MENA) region, has appointed Muhammad Hamayun Sajjad as the chief executive officer for Mashreq Pakistan, it said on Thursday.

"Sajjad brings with him a stellar track record of leadership within the financial sector, having been an instrumental figure in catalysing transformation and driving success for financial institutions across the Asia-Pacific and Middle East regions," it said in a statement.

"At Mashreq, his role will encompass the strategic expansion of the bank's operations across Pakistan, fostering a culture of innovation, and ensuring the delivery of exceptional customer experiences."

Well-recognised in the industry for his strategic vision, innovation leadership, and unique blend of creative, commercial, and technical expertise, Sajjad aims to solidify the bank’s position as a reputed global financial institution that brings with it a rich legacy of innovation, challenger mindset and a profound understanding of the local customer base.

He will be responsible for realising Mashreq’s vision to be a digital banking transformation catalyst in the market through the expansion of the bank’s award-winning digital ecosystem and its full suite of products including NEO, NEOBiz, and NEOPAY.

Mashreq Bank Pakistan Limited is actively progressing towards acquiring a restricted license from the State Bank of Pakistan to commence its digital retail banking operations. This marks an important step in its journey towards becoming a fully licensed banking entity in Pakistan.

The in-principal approval received in 2023 is a testament to the bank’s commitment to contributing to Pakistan's financial landscape, aiming to introduce innovative digital banking services that align with the country's vision for a digitally empowered economy.