First National Bank Modaraba

Mr. Javaid Bashir Sheikh

(Chairman of the Board- Non Executive Director)

Mr. Javaid Bashir Sheikh holds MBA – Finance degree from USA and is a certified director from Institute of Chartered Accountants of Pakistan (ICAP) . He has extensive global experience spanning over five decades in the financial and investment banking sectors in London (UK) and Pakistan. He is currently serving on the Board of Directors of Sindh Bank Limited, Nimir Industrial Chemical Limited, Prosperity Weaving Mills Limited and the Privatization Commission, Ministry of Privatization, Government of Pakistan. He is also the Co-Founder & Senior Partner at JSSR Consultants. Throughout his career, Mr. Javaid Bashir Sheikh has held several senior leadership positions including Executive Vice President/Country Head (Marketing & Corporate Finance) at Atlas Bank of Tokyo Investment Bank, President & CEO of Fidelity Investment Bank Group and Vice President at National Development Finance Corporation-NDFC. He holds strong consultancy background as well and worked as a senior advisor in the Abu Dhabi Group. Previously, he has served on the Boards of Golden Arrow Selected Stocks Fund Limited, AKD Reit Limited, Nagina Cotton Mills Limited, Burj Islamic Bank Limited and Sui Southern Gas Company Limited.

Mr. Fouad Farrukh

(NBP Nominee/Non-Executive Director)

Mr. Fouad Farrukh holds MBA degree from Lahore University of Management Sciences (LUMS) with Dean Honor list credentials and Aftab Associates gold medal for Marketing Research. He is an experienced banker with around twenty-nine years leadership roles in Retail, Corporate, Risk and Islamic Banking. His experience is divided in over twenty-two years in Pakistan and over six years in GCC. Currently he is serving as Group Chief & Senior Executive Vice President at Aitemaad Islamic Baking Group, National Bank of Pakistan. Prior to NBP, he served Faysal Bank Limited as Group Head of both Retail Banking and Islamic Banking, Country Head HBL Bahrain and Head of Risk for Gulf Countries out of Dubai for HBL. He was recognized and rewarded for building market-leading profitable, sustainable businesses.

Mr. Fouad Farrukh is Chairman Board of Directors of Pakistan Mortgage Refinance Company and is Board Member of Atlas Power Ltd. He has previously served on the Board of Pakistan Mercantile Exchange.

Mr. Usman Shahid

(NBP Nominee/Non-Executive Director)

Mr. Usman Shahid holds MBA degree from University of Bristol, England. He has more than 25 years of diversified experience in Corporate Banking, Credit and Risk with large international banks. Presently, he is serving National Bank of Pakistan as Senior Executive Vice President / Group Chief-Corporate & Investment Banking Group. Previously, he has served at Bank Islami Pakistan Limited, United Bank Limited, Hong Kong and Shanghai Banking Corporation, Habib Bank Limited and Riyad Bank, Saudi Arabia at executive positions. He was nominee director on various boards of industries as well such as Textiles, Power, Home Appliances, Insurance, Fertilizer, Credit Restructuring and Rehab.

Mr. Hasan Ahmed

(Independent- Non-Executive Director)

Mr. Hasan Ahmad is a Certified Public Accountant (CPA), Incorporated Executive Accountant (IEA), Fellow of The Institute of Taxation Management (FITM), Fellow of the Institute of Chartered Secretaries. He is also member of California Society of Certified Public Accountants, New York State Society of Certified Public Accountants, Institute of Management Accountants, Institute of Taxation Management and Lahore Tax Bar Association. He has 31 years of rich multi-dimensional experience in the fields of financial management, strategic planning, auditing and risk management, taxation and corporate matters. He has been a top professional and worked in diversified environments from Sugar Industry, textile and food business, real estate and educational institutions. He is also Director of Nagina Cotton Mills Mills Ltd., Agritech Limited and M/s. AKD Investments Ltd.

Mr. Ijaz Bashir Sheikh

(Independent -Non Executive director)

Mr. Ijaz Bashir Sheikh is a seasoned banker having practical experience of 35-40 years in the multiple sectors of banking. Soon after his graduation from Government College University, Lahore; he started in 1978 his banking career with United Bank Limited where he served almost 20 years, qualified Diploma Associate Institute of Bankers in Pakistan and equipped himself of the field of Foreign Trade & internal audit within and outside Pakistan.

Later he has served prestigious financial institutions at senior positions of Country Heads/ Heads. The banking departments handled by him includes “Operations & Administration, Credit Administration, Credit Risk management, SME/Consumer Finance, Special Assets Management, Properties & Recoveries/Collection etc”, giving an outlook of his versatile exposure.

The banks served by him include Punjab Provincial Co-op Bank Ltd, Al-Baraka Bank Pakistan Ltd (formerly Burj Bank), Trust Investment Bank Ltd, SME Bank Ltd, Bank Islami Pakistan (formerly KASB Bank), Silk Bank Ltd etc. In short his diversified experience consists upon almost all the fields/departments functional in Banks with a special emphasis towards formulation of manuals/policies and recovery/collection of non-performing loans. Mr. Ijaz has also been registered Individual Consultant with Asian Development Bank & PICG.

Ms. Tosheeba Sarwar

(Non-Executive Director)

Ms. Tosheeba Sarwar holds Masters degree in Business Administration. She is an experienced entrepreneur, business executive and advisor to a number of emerging and established businesses. She has experience of working closely with companies and business owners providing business valuation services and advice on developing and implementing strategies to maximize business value.

Ms. Tosheeba has teaching experience of more than 25 years at reputed academic institutions in Pakistan, focusing at Entrepreneurship Development, Marketing, International Business Development, E-business management, Media & Digital Promotions. She is a faculty member of Aitchison College, Lahore since 2013. Previously, she worked as an Assistant Professor at Government College University, Lahore. She also remained associated with Kinnaird College, PCBA (now UCP) and BNU.

Mr. Shahid Iqbal Choudhri is a seasoned banking and finance professional with over three decades of progressive experience across corporate banking, investment banking, credit risk management, asset recovery, and board governance. He is currently serving as Chief Executive Officer of NBP Modaraba, where he is leading initiatives focused on strategic revival, institutional strengthening, and sustainable value creation for certificate holders.

Previously, Mr. Choudhri served as Executive Vice President & Group Head – Corporate & Investment Banking at National Bank of Pakistan, where he oversaw one of the largest corporate and investment banking portfolios in the country, aggregating PKR 3 trillion (funded & unfunded), and led a comprehensive institutional turnaround supported by strong governance and risk discipline.

Prior to his tenure at National Bank of Pakistan, Mr. Choudhri built a strong and diversified career working with development finance institutions (DFIs), medium-sized commercial banks, and investment banks, serving in senior and middle management roles across corporate banking, business development, credit structuring, and portfolio management. This broad-based institutional exposure has provided him with deep insight into both conventional and Islamic finance, as well as financial institutions of varying scale and complexity.

Mr. Choudhri has extensive experience in complex financial structuring, syndications, guarantees, and corporate restructuring. He currently serves on the Boards of Javedan Corporation Limited and National Bank Modaraba Management Company Limited, and has previously served on the Boards of Agritech Limited (as Chairman), Pak Elektron Limited, and First Fidelity Leasing Modaraba.

He holds an MBA (Finance), a Postgraduate Diploma in Islamic Banking & Finance (UK), completed five years’ articleship at A.F. Ferguson & Company, Chartered Accountants (PwC-affiliated), and has undertaken SECP-certified Directors Training Programs from LUMS and IBA Karachi.