Newly-notified Banking Mohtasib’s oath-taking could

not be heldISLAMABAD: The PTI led government has notified appointment of Muhammad Kamran Shehzad as Banking Mohtasib Pakistan (BMP) almost two months back but his oath taking by the President of Pakistan could not be administered.Thus the newly notified Banking Mohtasib could not assume his charge so far, The News has learnt. So this important post was legally falling vacant because without oath taking the newly appointed Banking Mohtasib could not assume his charge“Governor State Bank of Pakistan Tariq Bajwa has sent out official communication to the federal government in recent weeks for accomplishing the process of oath taking but so far the Ministry of Finance was unmoved on this subject”, official sources confirmed while talking to The News here on Tuesday.According to notification issued by Ministry of Law and Justice dated January 30, 2019, the President of Islamic Republic of Pakistan has been pleased to appoint Muhammad Kamran Shehzad as Banking Mohtasib Pakistan in terms of Section 82A of the Banking Companies Ordinance 1962 read with Section 3 of the Federal Ombudsman Institutional Reform Act 2013 for a period of four years with effect from the date of taking oath of the said office.Earlier, Anisul Hasnain Musavi took oath of Banking Mohtasib office on March 14, 2013 and his four year term ended on March 2017. The appointment of the BMP is governed by the Federal Ombudsman Institutional Reforms Act (FOIRA), 2013 read with Section 82 of Banking Companies Ordinance (BCO), 1962. However, as per Section 24 (2) of FOIRA, 2013, in case there is a conflict/inconsistency between the provisions of this Act and the relevant legislation, the provisions of this Act shall prevail. Accordingly, as per Section 3 of FOIRA, 2013; the Ombudsman is appointed for a period of four years and is not eligible for an extension in tenure or reappointment under any circumstances.However, the Ombudsman shall continue to hold office after the expiry of his tenure until his successor is appointed. Further, as per section 82(A) of the BCO, BMP is to be appointed by the President in consultation with/on the recommendation of the Governor State Bank of Pakistan. According to original law, the Banking Mohtasib was appointed for three year term which was not extendable. After the amendment, the tenure was extended to four years and the oath was administered by President.Muhammad Kamran Shehzad had earlier served as Deputy Governor State Bank of Pakistan. He had also served as Managing Director of SBP’s Banking Services Corporation since February 28, 2007.Kamran Shehzad’s distinguished central/commercial banking career spreads over a period of more than 34 years. He has also served SBP as its Executive Director from June, 2006 till February, 2007. He holds Masters’ degree in Business Administration and Economics from the Punjab University, besides holding Diploma in Banking (DAIBP) from IBP. His professional experience prior to joining SBP covers a period of over 22 years. He has played a vital role in implementation of Financial Sector Reforms and transformation of banking system to a strong dynamic and vibrant banking sector.Kamran Shehzad is also the pioneer of establishment of Shariah compliant Islamic Banks and standalone branches in the country. He has represented SBP in various national and international conferences/fora during his carrier.

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