The government has appointed Abdul Wahid Sethi, Chief Financial Officer of the National Bank of Pakistan (NBP), as Acting President and Chief Executive Officer of the state-owned bank for an interim period of up to three months.

According to a Finance Division notification issued on August 21, Sethi has been assigned the acting charge to manage NBP’s day-to-day affairs.

His appointment will remain effective for three months or until a regular President and CEO is appointed, whichever occurs earlier.

The Finance Division said the appointment has been made in accordance with the Corporate Governance Regulatory Framework.

Sethi’s appointment comes after the tenure of Rehmat Ali Hasnie as NBP President and CEO ended on August 21.

The notification was issued by the Internal Finance Wing of the Finance Division and signed by Deputy Secretary to the Government of Pakistan Amna Shabbir.

The government will continue the process of appointing a permanent President and CEO for NBP during the interim period.