Finance Dept moves summary for BoK MD

PESHAWAR: The Finance Department has moved a three-candidate summary to the provincial cabinet for the appointment of a new Managing Director of Bank of Khyber. All three candidates are at the top of the merit list with the highest marks. A meeting of the provincial cabinet will be held on Monday under the chairmanship of Chief Minister Mahmood Khan in which the appointment of MD will be approved.

According to reliable sources, Ali Gul Faraz is at the top in merit and is expected to be the next MD of the Bank of Khyber. The post of MD has been vacant for the last one and a half years. The provincial government invited applications for the post of MD, after which a committee headed by the Additional Chief Secretary interviewed the candidates. The committee shortlisted five candidates for the key MD post.

Later on, the committee forwarded the names of the five candidates to the Board of Directors of the Khyber Bank to further interview the selected five candidates and compile the final merit list of the three candidates for the approval of the provincial cabinet. The board interviewed Ali Gul Faraz, Waqar Ajmal Chaudhry, Basit Malik, Ihsan Ullah Ihsan, and Mohammad Atif Hanif.

According to sources, the board members have completed the interview process and given marks to three candidates for the first, second and third positions. On the basis of which the board has sent a list of three to the provincial government. Cabinet will select one of the candidates. According to reliable sources, Ali Gul Faraz is on top of the merit list. Waqar Chaudhry is second and Basit Malik is in the third position, while Ihsanullah Ihsan and Muhammad Atif Hanif could not succeed. Ali Gul Faraz is a former Head of Corporate Strategy and Investment at Fuji Foundation and has extensive experience in the banking sector. Waqar Ajmal Chaudhry is second in merit. He is the Chief Operating Officer of Samba Financial Group in Riyadh. Basit Malik is the Country Head of SME of Standard Chartered Bank.