Islamabad, Feb 26: PTCL Group, Pakistan’s leading ICT services provider, has announced the appointment of Tooran Asif as the new President and Chief Executive Officer (CEO) of U Microfinance Bank Limited (UBank). With an extensive career in digital and retail banking spanning over three decades, Tooran Asif is set to lead UBank into a new era of innovation and expansion.
Before joining UBank, Tooran Asif served as CEO of KT Bank Pakistan Limited, a digital bank under formation. His career includes senior leadership roles at prestigious global institutions such as Mashreq Bank UAE, Standard Chartered Bank, Citigroup, and ANZ Bank.
As the Head of Consumer Banking at Mashreq Bank, he played a crucial role in driving digital transformation and strengthening the bank’s consumer business. He also led Mashreq Al Islami, where he built a strong Islamic banking portfolio by integrating digital solutions and enhancing financial offerings.
With extensive international experience across Asia, the Middle East, and the UK, Tooran Asif brings expertise in financial inclusion, digital banking, and business transformation. He holds a degree in Electrical Engineering and an MBA from the Institute of Business Administration (IBA), equipping him with a strong foundation in both technology and finance.
Hatem Bamatraf, Chairman of U Microfinance Bank’s Board of Directors and President & Group CEO of PTCL & Ufone 4G, welcomed Tooran Asif’s appointment, expressing confidence in his leadership. He stated, “We are excited to have Tooran Asif as the new President & CEO of U Microfinance Bank Limited.
His expertise in retail and digital banking, coupled with his commitment to financial inclusion, aligns perfectly with UBank’s mission. Under his leadership, we anticipate significant growth and milestones that will further strengthen UBank’s position in Pakistan’s financial sector.”
Tooran Asif takes over from Mohamed Essa Al Taheri, who served as Acting President & CEO during the transition period. UBank extended its gratitude to Al Taheri for his leadership and contributions during this phase.
As a subsidiary of PTCL Group, UBank continues to focus on providing technology-driven financial solutions that empower individuals and businesses. With Tooran Asif at the helm, the bank aims to enhance its digital capabilities, expand financial access, and contribute to sustainable economic growth across Pakistan.
