Bank of Khyber board approves transfers of senior officers
Aziz Buneri
PESHAWAR: The Board of Directors at the Bank of Khyber (BoK) has approved key transfers of senior officers. Former acting Managing Director and Senior Executive Vice President (SEVP), Ehsanullah Ehsan, who previously headed the Recovery Group, has been reassigned to lead a newly created “Strategy & Special Initiatives Group”. His former position as head of the Recovery Group will now be filled by Executive Vice President Fawad Sadozai.
According to bank sources, Ehsanullah was removed from his role due to rising Non-Performing Loans (NPLs) and defaults by companies such as Hascol and E-Clipe. However, sources claim that these loans were issued under political influence with board approval, and responsibility is now being placed solely on Ehsanullah.
Sources further revealed that the new head of Recovery, Fawad Sadozai, was appointed on the recommendation of the Khyber Pakhtunkhwa Chief Minister and the Board Chairman, which facilitated his accelerated promotion path towards SEVP.
Additionally, it has been reported that the previous MD had also issued accelerated promotions within the HR department to preferred officers.
Bank sources indicate that many current senior appointments, including SEVP Group Head Treasury Salman Ahmad and SEVP Group Head Islamic Banking Abdul Ghaffar, came through board member recommendations. Ahmad, who was retired for four years, and Ghaffar, who was unemployed for three years, were both selected despite a long absence from the market.
In response, the Bank of Khyber reiterated its commitment to transparency and high governance standards, stating, “All decisions follow transparency and high governance standards, made by relevant competent forums with the best interest of BoK in mind. Decisions are merit-based and aligned with the strategic priorities and skills requirements of the bank. The Bank of Khyber upholds fair, transparent practices, regulatory compliance, and a commitment to integrity and excellence in all its decisions.”
The BoK expresses its dedication to maintaining a professional workplace and ensuring that all actions reflect its values and standards, the statement adds.
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