Fahad Ali Al Hunaiti has been appointed chairman of the board of Samba Bank Limited (PSX: SBL), replacing Mustafa Ilyas as the Saudi-owned bank undergoes leadership changes amid a potential change in ownership.

The appointment was approved during the board’s 136th meeting held on August 20, according to a company filing. Al Hunaiti, who previously served as a non-executive director, has now taken over as chairman.

The leadership change follows several developments at Samba Bank in recent months. In February 2026, the bank appointed Rashid Jahangir as its full-time president and chief executive officer, subject to approval from the State Bank of Pakistan.

Jahangir had earlier served as acting president and CEO after joining Samba Bank in 2016 as chief financial officer.

Al Hunaiti’s appointment comes as Samba Bank continues to undergo changes at both the board and management levels, while the potential acquisition of its majority stake remains under consideration.