ZAFAR MASUD

Zafar Masud

A career banker and finance expert, served at top  positions with the international banks in Pakistan and abroad, with proven track-record in Corporate, Cash Management  & Investment  Banking.   Has very keen interest  and active involvement in raising and development of financial and capital market instruments, including Sukuks, from local & international avenues/  institutions,  particularly working  with  multilaterals  like  OPIC  of USA  and the European DFIs. Introduced two listed Sukuks in the local market with one being the first-ever private sector AAA rated instrument to encourage  non-conventional investors  to  participate  and offer a savings  instrument  in  Pakistan.    Savings  and Investment and its development have always remained an area of interest.

Director General, National Savings, Ministry of Finance.  A premier financial institution offering retail Government Securities, level playing field to small savers through diversified product mix.  A key contributor towards financial inclusion with an investor base of around 7Mn and a portfolio of over US$30Bn.

Member of the Central Board of Directors of the State Bank of Pakistan (“SBP”), appointed in March 2013  for three years.  Served as the Member on the most prestigious and coveted Constitutional Independent Monetary Policy Committee  (“MPC”) of the Government of Pakistan.   After successfully completing one three year term on the Board of Directors of SBP, been re-appointed on the Board of SBP for another term of three years and as the Members of the MPC, in April this year. Resigned in August, 2016  from Board of SBP  due to statutory requirements for appointment as Director General, National Savings, Ministry of Finance.

The Chairman of Publications Review Sub-Committee and Members of Human Resources  and Investment  Sub- Committees of the Board. Contribution on the Board, particularly in the areas of Publications, Monetary Policy, Foreign Remittances/ Savings & Investments, Banking and Human Resources, has been recognized and praised

Also an active Member of the Board of Directors of Oil and Gas Development Company Limited (“OGDCL”) and the Chairman of Risk Management Sub-Committee  of the Board.   Members of HR & Nominations, Operations & CSR, and Procurement & Finance Sub-Committees of OGDCL  Board.

Has extensive experience  of working with Government and Government institutions  to appreciate the intricacies and the challenges  of a Public  Sector organization and to find  a most viable  solution  to handle  things  in the best way possible.  Regular contributor on the topics of finance, economics and energy to the local media.

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 4,000 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.

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.