Muhammad Babar Ayyaz assumes charge as president and CEO of Bank of AJK

On Wednesday, Malik Muhammad Babar Ayyaz took up the responsibility as President and CEO of the Bank of Azad Jammu & Kashmir (BAJK). Having accumulated over 27 years of experience in the banking sector, Mr. Ayyaz will help BAJK in achieving success in the current phase of development and transformation.

As an experienced banking professional, Mr. Ayyaz has substantial experience in corporate and commercial banking, Islamic banking, financing of SMEs, strategic planning, business transformation and leadership of institutions.

His involvement in the work of the organization will allow giving new direction to the development of BAJK with regard to providing banking services and increasing its potential.

Prior to his joining the Bank of Azad Jammu & Kashmir (BAJK), Malik Muhammad Babar Ayyaz worked for nearly 17 years in the Bank of Punjab (BOP), occupying various management positions after starting his career in private banks.

Working in the Bank of Punjab, Mr. Ayyaz had a significant part in restructuring and improving the performance of the Bank's Corporate and Investment Banking segment. In addition, he was actively involved in the establishment and development of the Bank's SME and Commercial Banking segments.

His experience includes a number of spheres which can be regarded as important factors of BAJK’s future expansion, such as priority sector lending, SMEs, digital banking, Islamic banking, as well as institutional and strategic transformation.

Ayyaz has obtained an executive master's degree in business administration at the Lahore University of Management Sciences (LUMS). He has been distinguished there for graduating with distinction and getting included into the Dean's Honour Roll. His academic achievements and more than 20 years of experience in the financial sector make it possible for him to become the head of BAJK and lead it in its next period of institutional development.

AJK Chief Secretary and BAJK Chairman Khushkal Khan welcomes the new appointment saying that the experience of a professional banker will help the bank to achieve much more in the future due to his great expertise in priority sector lending.

"I congratulate the BAJK team on having a professional banker with extensive experience in priority-sector lending," Khan said.

According to the official, the government expects that BAJK will have a greater impact on promotion of financial inclusion, empower the SMEs and develop further.

Besides, the official regards the new appointment as an important step in the direction of obtaining a nationwide commercial banking license by the bank in the future.

For his part, Ayyaz expresses his delight in joining the BAJK staff as it is an important milestone in the development of the bank.

Ayyaz describes BAJK as the best financial institution belonging to the state of AJK, explaining that its reputation is based on customer trust and commitment of its employees.

Under his leadership, the ban will work together with the Board of Directors, management, employees, and other stakeholders for improvement of financial performance of the bank and its further transformation.

At the same time, Ayyaz stresses that it is important to promote greater financial inclusion within the region with the help of provision of banking services to those businesses and communities which are underrepresented in conventional banks.

"We will work to further strengthen the bank's financial performance, accelerate digital transformation, expand Islamic and SME banking, enhance customer experience, strengthen governance and risk-management practices and promote greater financial inclusion across the region," Ayyaz said.

He also notes that the focus of the bank will be put on innovation, operational efficiency and sustainable growth, as well as creation of value for customers, communities and the