IHC orders removal of NBP President Arif Usmani, chairman BoD Zubair

 IHC orders removal of NBP President Arif Usmani, chairman BoD Zubair

IHC orders removal of NBP President Arif Usmani, chairman BoD Zubair Soomro

ISLAMABAD, 29 June: The Islamabad High Court (IHC) has issued orders to remove National Bank of Pakistan (NBP) President Arif Usmani and the bank’s Chairman Board of Directors (BoD) Zubair Soomro.

Justice Mohsin Akhtar Kayani announced the verdict Tuesday, which had been reserved by the high court on June 2.

The verdict called on authorities to remove with immediate effect, Usmani and Soomro, from their posts.

A petition filed by citizens Syed Jahangir, Javed Iqbal, Fazal Raheem and Latif Qureshi contended that the NBP president’s appointment was contrary to the guidelines of the Public Sector (Appointment of Chief Executive) Guidelines 2015.

Usmani did not hold a degree in banking

The petitioners had argued that Usmani did not hold a degree in banking and finance while on the contrary, he was had a physics degree. The petitioners had argued that it made him ineligible for the post of chief executive ffficer of the NBP for life.

Usmani’s counsel had informed the high court(IHC) during a previous hearing that the NBP had earned impressive profits during his client’s tenure as the bank’s president.

The court remarked that if a degree has no connection with a field then a judge could also be appointed as a bank head.

Soomro’s lawyer, on the other hand, had argued that the petition had been filed on the basis of malafied intentions, adding that the petitioners were not affected by appointments.

Read this: Pakistan NSA refuses reports claiming he met Israeli officials secretly

Pakistan National Security Adviser (NSA) Dr. Moeed Yusuf has strongly refuted reports claiming he secretly met Israeli officials.

The clarification from the NSA came after the Foreign Office’s statement denied Israeli media report that he visited Tel Aviv last November and met Mossad chief.

“Very disappointed to be informed that the leader of a major political party has insinuated that I had secretly met Israeli officials.

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