Business recorder
28 February 2004

Allana to be HBL Chairman; Zakir to continue as President

KARACHI (January 28 2004): The Aga Khan Fund for Economic Development has submitted the names of four directors, Iain Cheyne, Sajid Zahid, Sultan Allana and Zakir Mahmood, as its nominees on the Board of Directors of Habib Bank Limited, to be inducted after handing over of the bank to the AKFED.

Sultan Allana will be the Chairman of the Board, while Zakir Mahmood will continue as the President and Chief Executive Officer of the bank.

Business Recorder understands that the ceremony of completing the privatisation transaction will take place some time in mid-February. (Business Recorder)