Current President EXIM Bank Failed SBP Assessment After His Appointment


A discrepancy in the credentials of the incumbent CEO/President Export-Import Bank (EXIM bank) has emerged.

Sources told ProPakistani that the State Bank of Pakistan has written a letter to Finance on the Fit and Proper Test assessment of the CEO Exim Bank of Pakistan.

According to the Notification No. F.4(4)IF-1/2016/1706 dated December 31, 2019, the Federal Government had appointed Irfan Bukhari as President/CEO, EXIM Bank of Pakistan for a period of 03 years subject to FPT clearance by the State Bank of Pakistan (SBP).

In this connection, the EXIM Bank of Pakistan has also furnished his FPT documents as required under the FPT Criteria.

While assessing the fitness and propriety of Irfan Bukhari for the subject position, a discrepancy in his date of birth was noted.

In the National Identity Card Overseas Pakistanis (NICOP), the date of birth is 08/05/1964, whereas in the Canadian Passport and FPT Proforma, his date of birth is 08/05/1962.

It may be noted that the same is in contradiction with the job
advertisement wherein the maximum age requirement for the subject position is 55 years.

‘Accordingly, the Finance Division is advised to reassess his eligibility and inform the SBP, enabling us to proceed in the matter,’ the State Bank of Pakistan requested the Finance Division.

Sources said that the government, on August 9, 2023, had re-appointed Irfan Bukhari as president/CEO of the Export-Import Bank of Pakistan for another term of 6 months or till the appointment of a regular President/CEO subject to clearance of SBP Fit and Proper Test Criteria.

Sources claim that a few individuals in the Finance Division have vested interests in Exim Bank, so they remained silent and did not address the matter.

Secretary Finance on query told ProPakistani that the appointment of CEO/ President EXIM Bank was made after due diligence in consultation with SBP and after cross verification of date of birth from NADRA.

The following comprised the shortlisting Committee:

Finance Secretary,

AFS(IF),

Additional Secretary
-II,

Establishment Division,

AFS(HR/CF),

AFS(EF).

The Selection Committee consisted of the following:

Dr. Abdul Hafeez Sh.,

Dr. Ishrat Hussain,

Razzaq Daud, Secretary Finance,

Secretary Establishment,

Additional Secretary Finance Division

A six-month extension in tenure was approved by the Federal Cabinet pending the recruitment of a new CEO/President as per the EXIM Bank Act 2022. Appointment of CEO is the responsibility of the EXIM BoD and not the Finance Division under the State Owned Enterprises Act, 2023.

The BoD has already been advised by the Finance Division to initiate the process, and they have begun the same by advertising last week for hiring a headhunter firm for screening services for the said post.

Source: ProPakistani

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