The founder of Bank Alfalah Limited has taken over the bank control as new chairman of Bank Alfalah. Sheikh Nahyan Bin Mubarak Al Nahyan has replaced his brother Sheikh Hamdan Bin Mubarak Al Nahyan.
With Pakistan becoming an emerging markets for foreign investors with the mega project of China Pakistan Economic Corridor (CPEC),the business strategy of Bank Alfalah is more likely to take a turn with the new chairman.
Sheikh Nahyan, the new chairman of Bank Alfalah has always had investment interest in Pakistan in various sectors including financial, telecom and real estate sector.
The Chairman of Dhabi Group already have subsidiaries in Pakistan such as Warid Telecom and Wateen Telecom which recently went through a major transition stage of business.
Warid Telecom merged with Mobilink whereas the talks are under going for a deal to sellout Wateen Telecom to a potential buyer either Telenor or Mobilink.
Dhabi Group has an other subsidiary names as Tavuuan, a partnership project with Punjab Government which invests in different projects of telecommunication, financial, real estate and healthcare businesses.
In 2005, the President of Pakistan awarded Sheikh Nahyan Mubarak Al Nahyan the Pakistan’s highest civilian award, Hilal-e-Pakistan.
The No-objection certificate from the central bank will be issues soon.
Recently, the service contract of CEO of Bank Alfalah Limited Atif Bajwa has been revised by the board of directors to a third term being a President and CEO of the bank.
Bank Alfalah Limited is the six largest bank in Pakistan by size with 655 branches operating 225 cities including 11 international branches in three countries including Bahrain, Afghanistan, and Bangladesh.
In 2015, the bank has entered after 17 years of its inception. The official color has been changed from Deep Blue to Crimson Red and the logo has also been changed. Meanwhile, the Vision & Mission statements have also been revised.
