Prominent Pakistani banker and entrepreneur, Sheikh Mukhtar Ahmad, passed away on Friday. Allied Bank Limited (ABL) announced in its notice to the Pakistan Stock Exchange (PSX).
“We are deeply saddened to inform that Sheikh Mukhtar Ahmad, respected sponsor director of Allied Bank Limited, has passed away,” read the notice.
Sheikh Mukhtar Ahmad began his business career soon after migrating from India during the independence of Pakistan in 1947. He contributed significantly to the country’s industrial and business growth through his entrepreneurial skills and business acumen.
With over 63 years of experience in establishing and managing various industrial and financial enterprises, Mukhtar has been a member of the Board of Directors of Allied Bank Limited since 2005. He was a certified director from the Pakistan Institute of Corporate Governance.
He also served as chairman of the boards of Ibrahim Fibres Limited, Ibrahim Holdings (Private) Limited, Ibrahim Agencies (Private) Limited, and ABL Asset Management Company Limited.
He was also a board member of the Ibrahim Welfare Foundation.
In a message, Federal Minister of Interior Mohsin Naqvi expressed deep sorrow and grief over the passing of Sheikh Mukhtar.
The interior minister extended heartfelt condolences and sympathy to the bereaved family. He paid tribute to Sheikh Mukhtar Ahmad’s contributions to the fields of banking and business, noting that he rendered remarkable services in both sectors.
