The federal government has approved the appointment of Rehmat Ali Hasnie as permanent President of the National Bank of Pakistan for three years, reported the 24NewsHD TV channel.

The Federal Cabinet has given its approval for the posting on the recommendation of the Ministry of Finance Monday.

The Finance Ministry has also proposed the names of Muhammad Abdullah Ahmed and Mudassir Husain Khan as alternate candidates in case Hasnie does not accept the offer.

Mr. Hasnie is a seasoned professional with extensive experience in the banking and financial industry. He has held various senior leadership roles and has been associated with several prominent organizations in Pakistan.

In May 2022, Mr. Hasnie was appointed as Acting President of NBP, a position he has held for over a year as of the current date. Prior to this role, he served as Senior Executive Vice President & Group Chief (Inclusive Development Group) and Senior Executive Vice President & Group Chief (Investment Banking Group) at the same institution, playing a key role in establishing a new business group focused on promoting financial inclusion and credit delivery to priority sectors.

He joined NBP in 2010 as Executive Vice President and Group Head of Investment Banking, a role he held for six years and eight months.

During this time, he was responsible for the origination of investment banking (debt and equity) transactions and project finance mandates, transaction structuring, closing syndicated transactions, document negotiations, and team management.