KARACHI, February 27, 2019: The Board of Directors of Telenor Microfinance Bank appointed Aslam Hayat as acting CEO, following the resignation of Shahid Mustafa.
The outgoing CEO Shahid Mustafa tendered his resignation and will officially step down from his role as CEO on 31 st May, 2019.
Aslam Hayat currently serves as Chief Compliance Officer on the Management Team of Telenor Microfinance Bank. He has been with the bank since 2018, prior to which he held various senior positions in Telenor Pakistan. Aslam Hayat, also served as Vice President Circle Central and Chief Corporate Affairs and Strategy Officer (CCASO). Before joining the Management Team of Telenor Microfinance Bank, Mr. Hayat also served on the bank’s board of directors.
“The BoD is pleased to have Aslam Hayat lead Telenor Microfinance Bank while a search for a new CEO commences. The ongoing transformation of the organization will continue uninterrupted under his leadership”, said Petter B. Furberg, Chairman of the Board.
Commenting on his the resign as CEO from Telenor Microfinance Bank, Mr. Shahid Mustafa said: “It’s been a true pleasure to lead the bank through this critical period in time. I am proud of what the team has achieved including bringing onboard a new strategic investor and strengthening our position within branchless banking.”
The BoD has initiated a search for a permanent CEO and will make an announcement later.
Chairman Board, thanked Shahid Mustafa and said, “Under his leadership, the Bank strengthened its position within branchless banking and becoming a leading digital financial services provider.”