Telenor Bank CEO resigns

Telenor Bank announced that CEO of the bank Ali Riaz Chaudhry has resigned from his post. Ali was serving the bank as CEO for the past one year. According to the bank, Ali will be joining a Digital Financial Services business in the U.K. as its CEO.

Before joining the Telenor Bank Ali served in various companies which include, NewDay, Citi Bank, and National Commercial Bank. Moreover, he has done his B.A(Hons) in Accounting and Economics from the University of Kent. At the time of leaving the bank, Ali said, “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”.

For those who don’t know about the Telenor Micro Finance Bank, the bank was established in 2005 and is serving in the microfinance sector. The bank also launched mobile banking platform, Easypaisa, in 2009 to increase its operation in the country. The microfinance bank is also licensed by State Bank of Pakistan.

Ali has played a key role in merging the Easypaisa with branch banking system. He with his team created an efficient microfinance model for the bank.

Roar Bjærum, Head of Telenor Financial Services, said,“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 Microfinance Bank and the cause of financial inclusion. We wish him all the best for this next endeavor.”

The bank has appointed Shahid Mustafa as new CEO of the bank.