Telenor Micro-finance Bank announced today that Ali Riaz, its CEO has a different ambition and hence resigned from the bank. Ali will join business based in London relating to digital Financial Services.

Ali expresses his gratitude to Telenor Microfinance Bank in the following words:

 I am extremely thankful to Telenor and to the Board for providing me the opportunity to serve the company and the cause of financial inclusion. Working with a winning team, to establish the bank as the leading Digital Financial Services Provider, has been a privilege. I wish Telenor Microfinance Bank the very best in continuing as a strong leader in digital financial services.

The Head of Telenor Financial Services, Roar Bjærum says:

 Ali has been the key architect and driving force of the bank’s transformation journey: he and his team merged the Easypaisa and branch banking business, created an operationally efficient micro-finance model and introduced digital lending. Ali is leaving behind a strong footprint, a solid strategy and a capable team. I would like to thank him for his vision and unconditional commitment to Telenor Micro-finance Bank and the cause of financial inclusion. We wish him all the best for this next endeavor .

Shahid Mustafa is now the appointed CEO of Telenor Microfinance Bank by the Board of Directors. However State Bank will confirm his appointment.