The Faysal Bank Limited announced new Board of Directors (BoD) after conducting election on May 14, 2020. The election was conducted through in person voting, e-voting, postal ballot and through proxies.
Every company is required to conduct election for Board of Directors pursuant to the Companies Act, 2017. The elected directors will serve Faysal Bank for a period of three years effective from May 14, 2020.
The names of the newly elected ten Board of Directors of Faysal Bank Limited are as under:
- Mr. Farooq Rahmatullah Khan
- Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery
- Mr. Juma Hasan Ali Abul
- Mr. Abdulelah Ebrahim Mohamed AlQasimi
- Mr. Abdulla Abdulaziz Ali Taleb
- Mian Muhammad Younls
- Mr. Ali Munir
- Mr. lmtiaz Ahmed Pervez
- Ms. Fatima Mad Khan
- Mr. Mohsin Tariq
Mr. Farooq Rahmatullah Khan is currently serving as the chairman of the BoD of the Faysal Bank and Mr. Ahmed Abdulrahim Mohamed Abdulla Bucheery is vice chairman. Ms. Fatima Mad Khan and Mr. Mohsin Tariq have been newly appointed while the rest of members were already serving on the Board of Directors of Faysal Bank.
Faysal Bank is owned by a group namely “Ithmaar Bank B.S.C.” which is a Bahrain-based licensed Islamic retail bank providing services to retail, commercial, treasury & financial institutions and other banking services.
The Faysal Bank was one of the first banks to announce its convert from a conventional bank into a full-fledged Islamic bank. Faysal Bank is a medium size commercial bank and has a total of 555 branches across 200 cities in Pakistan. Out of the 555 branches around 75% of the branches i.e. 414 are Islamic. According to the annual report, the bank has a total deposits of around Rs. 457 billion and earned a profit of Rs. 6.041 billion during the year 2019.
