Daily The Business

JS Bank appoint, reappoints Lalani board chairman, Shamsie president

M Jahangir Hayat

LAHORE: JS Bank Tuesday announced to appoint new Chairman of the Board of Directors of JS Bank Limited.

AS per details the bank under the headline of Appointment of Chairman has informed that Suleman Lalani has been appointed as chairman of the
board of Directors of JS Bank Limited.

The Bank announced that Lalani would be appointed with subject to the Fit & Proper Test clerence of the State Bank of Pakistan.

Meanwhile, the bank has also reappointed president and CEO under section 187 of the companies Act, 2017.

As per details Basir Shamsie has been reappointed for as President & CEO of JS Bank for the remainder term of his employment.

Suleman Lalani joined Jahangir Siddiqui & Co. Ltd. (“JSCL”) on March 1, 2012 as Chief Executive Officer. Prior to joining JSCL he was
Executive Director Finance & Operations and Company Secretary of JS Investments Limited where he served as CFO and Company Secretary for
seven years.

Mr. Lalani started his career with JSCL in 1992 where he worked for over eight years. In year 2000 he was promoted to the position of
Chief Operating Officer of Jahangir Siddiqui Investment Bank Limited, a subsidiary of JSCL. In January 2002 he joined The First MicroFinance
Bank Limited as its Chief Financial Officer and Company Secretary. Mr. Lalani is a Fellow member of the Institute of Chartered Accountants of
Pakistan and has over 25 years of experience in the financial services sector. He has also completed the Board Development Series Certificate
Program conducted by the Pakistan Institute of Corporate Governance.

His other directorships included JS Investment Ltd, Future Trust, Al-Abbas Sugar Mills Ltd, Quality Energy Solutions (Private) Ltd, Khairpur Solar Power (Private) Ltd, JS Bank Limited. (Chairman) and JS Petroleum (Pvt) Ltd (Chairman).

Following JS Bank’s President and CEO Khalid Imran resigned from his posts which was accepted by the management. JS Bank informed that
Khalid Imran’s resignation has been accepted and Basir Shamsie has been appointed as a new President and CEO.

“Basir Shamsie joined the Jahangir Siddiqui Group in 1994 and presently heads the Treasury Investment Banking & Financial Institution Group of JS Bank Limited. He also serves as Director on the Board of Directors of JS Bank Limited. Before joining the JS Group he worked in the Finance function at Upjohn Pakistan,” stated Bankers Association of Pakistan’s member profile document.

Baseir Shamsie studied in the University of Texas and Harvard Business School.

Since 1999, he has successfully led and closed 27 debt capital market transactions, many of which have been landmark transactions such as
the first commercial paper, first floating rate instrument, first perpetual bond, first bank subordinated debt, first 10-year corporate bond, and the first local Sukkuk Bond of PKR 8 billion for WAPDA.

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