Press Release
Pakistan, Karachi, XX February 2024: Mashreq, one of the leading financial institutions in the MENA region, proudly announces the appointment of Muhammad Hamayun Sajjad as the Chief Executive Officer for Mashreq Pakistan.
Mashreq Bank Pakistan Limited is actively progressing towards acquiring a restricted license from The State Bank of Pakistan to commence its digital retail banking operations. This marks an important step in its journey towards becoming a fully licensed banking entity in Pakistan. The In-Principal Approval (IPA) received in 2023 is a testament to the bank’s commitment to contributing to Pakistan's financial landscape, aiming to introduce innovative digital banking services that align with the country's vision for a digitally empowered economy.
Muhammad Hamayun brings with him a stellar track record of leadership within the financial sector, having been an instrumental figure in catalysing transformation and driving success for financial institutions across the Asia-Pacific and Middle East regions.
At Mashreq, Muhammad Hamayun’s role will encompass the strategic expansion of the bank's operations across Pakistan, fostering a culture of innovation, and ensuring the delivery of exceptional customer experiences. Well-recognised in the industry for his strategic vision, innovation leadership and unique blend of creative, commercial and technical expertise, Muhammad Hamayun aims to solidify the bank’s position as a reputed global financial institution, that brings with it a rich legacy of innovation, challenger mindset and a profound understanding of the local customer base. He will be responsible for realising Mashreq’s vision to be a digital banking transformation catalyst in t he market through the expansion of the bank’s award-winning digital ecosystem and its full suite of products including NEO, NEOBiz, and NEOPAY.
Additionally, Muhammad Hamayun’s commitment to the National Financial Inclusion Strategy (NFIS) and proven track-record in creating positive impact, align with Mashreq’s responsibility agenda to serve the broad spectrum of the Pakistani society and contribute to the economic empowerment of underrepresented segments with a special focus on SMEs, youth and women.
Fernando Morillo, Group Head of Retail Banking at Mashreq, commented, “Muhammad Hamayun’s long-established track-record in Pakistan’s financial services landscape is key to Mashreq's strategy in delivering an integrated and revolutionary digital-first banking experience in Pakistan. His expertise and vision for digital innovation align perfectly with our goals for the region. We are confident that his leadership will greatly contribute to our mission of providing cutting-edge banking solutions to our customers, enabling financial inclusion and empowerment."
Commenting on his appointment, Muhammad Hamayun said, "I am incredibly excited to be part of Mashreq’s vision to act as a key enabler in Pakistan’s financial and digital inclusion agenda. We aim to leverage our rich heritage, deep market understanding, international expertise and digital innovation to offer unparalleled intuitive and integrated banking experiences to Pakistanis. As we gear up to setting up operations in this high-potential market, we are set to introduce a team of highly skilled bankers and engineers, reflecting our commitment to digital banking excellence and the advancement of the digital economy."
Muhammad Hamayun holds specialization in Mastering Design Thinking from Massachusetts Institute of Technology (MIT), an MBA in Finance and Marketing, and a bachelor's degree in Computer Science. His appointment is a testament to Mashreq's commitment to driving digital transformation and excellence in banking across the MENA region and beyond.