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Mr. Zafar Masud
Director

A banker and an entrepreneur, served at top positions at international banks in Pakistan and abroad. Extensive experience of working at the Board of Directors level including State Bank of Pakistan, Monetary Policy Committee, Barclays Bank Southern Africa and National Bank of Pakistan.

Currently, working as a Consultant with Karandaaz Pakistan (Section 42 Company funded by DFID of UK and Bill and Melinda Gates Foundation) on National Savings and setting-up of first of its kind credit enhancement facility for social infrastructure financing company in Pakistan being developed in alliance with international funds including Private Infrastructure Development Group ( “PIDC”) - an innovative infrastructure development and finance organisation funded by six governments and the IFC, led by United Kingdom's Department for International Development ( “DfID”), GuarantCo and Cardano Development.

Most recently, until August 2018, worked as Director General, National Savings, Ministry of Finance. A premier financial institution offering non-inflationary retail Government Securities with over 7Mn accounts & certificates and a portfolio of over US$30Bn. Initiated the digitization of the organization to include internal systems digitization and various digital channels for the customers, including online banking and ATM Cards, to introduce ease of investment complimenting a growing customer base from mid and bottom of the pyramid. Finalized the structure for the launch of much needed Shariah Compliant Product and Overseas Pakistanis Savings Certificates. Successfully included Persons with Disabilities and Shuhadah Families through the welfare products. The institution remains a formidable force for financial Inclusion and social security net in Pakistan and won two awards from international magazines (CFI in 2017 and International Finance in 2018) in this respect in the both the years of my tenure.

Formerly, Member of the Board of Directors of the State Bank of Pakistan (”SBP”), Served as the Member on the most prestigious and coveted Constitutional Independent Monetary Policy Committee ("MPC") of the Government of Pakistan. Contribution on the Board, particularly in the areas of Publications, Monetary Policy, Foreign Remittances/ Savings & Investments, Banking and Human Resources, was well recognized and praised. Was the Chairman of Publications Review Sub-Committee and Members of Human Resources and Investment Sub-Committees. Served as a Member of the Board of Directors and Chairman of HR Committee at Oil and Gas Development Company Limited (”OGDCL”)


Member of the Board of Directors and Chairman of the Board Technology and Digitization Committee of National Bank of Pakistan (”NBP”), Member of the Board of Directors and Chairman of the HR Committee of Port Qasim Authority (”PQA”), Member Advisory Council, Ministry of Maritime Affairs , Member of the Board of Directors and Chairman of the Budget Committee of Gadoon Textile Mills Limited (”GTML”), Member of the Board of Directors of TAF Foundation and Member of the Board of Directors of Quaid-e-Azam Thermal Power (Pvt) Limited (”QATPL”).

As Founding Partner of Burj Capital, involved in fund raising and encouraging investment from the local and international markets with specific focus on Sharia Compliant instruments to raise funding from the non-banking sources. Also, involved in successful corporate restructuring.


Formally, as the Regional Managing Director & CEO for Southern Africa, Barclays Bank plc, responsible for three countries and represented on the Board of Directors, with managing total balance sheet size of US$3Bn and around 10,000 people. Converted a standard Commercial Bank into a premier Consumer & Investment Bank in the Region, and took the Corporate and Treasury business to another level in terms of product offering and income, particularly fee component. Made the bank earn the best possible ratings in all the internal and external audits. Won the awards of Best Bank in Zambia and in Botswana by Euromoney and The Bankers Magazine.

Prior to Africa, was responsible for establishing one of the prime global Islamic banking franchises  - Dubai Islamic Bank - in Pakistan. Represented the local management to the senior officials in the head office and the Board of Directors along with the highest Government officials in the Country. Instrumental in attracting foreign strategic investors to Pakistan including $100Mn in financial sector, $375Mn for the second largest port expansion project, $150Mn palm oil refinery project by one of the most rapidly expanding FMCG Company in MENA region as well as assisting the first-ever leading international cosmetic brand entry into the Country.


At Citibank, was member of the Country Management Committee and responsible for handling Government and Public Sector business. He was involved in all the major deals done by Citibank between 1999-2005, including US $600Mn Government of Pakistan Inaugural Islamic Sukuk, US $350Mn PIA-Exim Bank Deal, First-ever Derivative/ Interest Rate Swap with PARCO, Set-up first-ever US $100Mn OPIC guaranteed/ financing facility for Pakistan, introducing/ rolling-out KESC and PSO Cash Management Solutions.


Joined American Express Bank Pakistan as Management Trainee. Appointed member of the Country Capital Markets Taskforce which successfully launched the capital market business in Pakistan. Successfully implemented special initiatives/ projects of bonding business (corresponding banking) and launched corporate business in the peripherals of Lahore city (Sialkot, Gujranwala, Gujrat, etc.), and executed KAPCO $10Mn medium-term local currency syndicated working capital facility and WAPDA $30Mn short-term financing facility.
Part of “PIIC’s list of Independent Directors.

 

 

 

 


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