The federal government has decided to make the Board of Export and Import (EXIM) Bank functional, reported 24NewsHD TV channel on Wednesday.

Sources told 24News that the federal cabinet had approved the appointment of Naeem Iqbal as the EXIM Bank Board chairman, while Dr. Shujaat Ali as the Board’s independent director.    

Sources added that once the Board became functional some important decisions would be taken.

The government has already declared the EXIM a monetary organization.