Mian Muhammad Mansha, Chairman of the Board of Directors of MCB Bank Ltd., announced the appointment of Muhammad Afaq Khan as the new President of MCB Islamic Bank Ltd., saying it gives him great pleasure to welcome Muhammad Afaq Khan to this leadership position.
Mian Mansha stated that we are happy to have been the first bank in Pakistan to establish an independent Islamic banking subsidiary to serve one of the largest markets for Islamic banking services. He stated that he is convinced that Afaq Khan’s extensive knowledge, devotion, and leadership will result in an incredible success for our Islamic banking business through greater and improved service to the Islamic banking industry’s consumers.
Raza Mansha, Chairman of the MCB Islamic Bank Ltd.’s Board of Directors, also welcomed Afaq Khan as President, noting that this signals a new chapter in MCB Islamic Bank’s business strategy and that via this endeavor, we have taken the first step toward possible market leadership. Islamic banking has the potential to become the preferred mode of banking in Pakistan, and we envisage MCB Islamic Bank Ltd becoming a major service provider under Afaq Khan’s leadership.
Afaq Khan brings over 30 years of experience as a successful Islamic banking professional. He previously served as Chairman of Al Rajhi Investment and Banking Corporation (Malaysia), as well as Group CEO of Islamic Banking at Standard Chartered Bank (Saadiq). He was also a member of the HSBC Group’s senior management team that established Islamic Banking. He also held the post of Global Head of Asset Finance and Advisory at HSBC Amanah. He has advised numerous successful Islamic banking enterprises and received numerous Islamic Banking Awards.