Islamabad – October 20, 2023: PTCL Group, the largest ICT services provider in Pakistan, is pleased to announce the appointment of Mr. Mohamed Essa Al Taheri as the new acting President and CEO of U Microfinance Bank. The decision came after the former President and CEO, Mr. Kabeer Naqvi tendered his resignation and it was subsequently accepted by the Group.
President and Group CEO, PTCL & Ufone 4G, Hatem Bamatraf welcomed the new CEO aboard while he bid farewell to the outgoing CEO, expressing his heartfelt gratitude for years of dedicated service. In his role as Chairman, Board of Governors of U Microfinance Bank, Mr. Hatem Bamatraf conveyed his unwavering commitment to provide the new CEO with steadfast support in order to sustain the Bank’s growth trajectory. Moreover, U Microfinance Bank, an investment of PTCL Group, enjoys strong backing from the Group as it has consistently demonstrated impressive financial strength and performance.
The new CEO has long been associated with U Microfinance Bank as a Member of its Board of Directors. He brings significant experience from his previous role as the Group EVP for Financial Policies and Systems at e& Group. He holds a Master’s in International Business from the University of Wollongong, Dubai. He has over 20 years of professional experience, including positions at HSBC Bank, Dubai Commercial Bank, and the Development Board of the Dubai Government.
PTCL Group believes that Mr. Essa Al Taheri will play an instrumental role in the bank’s growth and progress, continuing with the remarkable and sustained digital transformation and innovation. The Group wishes him well.