Telenor Microfinance Bank (Formerly Tameer Microfinance bank) has announced that the CEO and President Ali Raza Choudhary has resigned from the bank.

The reason being told that he has opted to pursue hiscareer outside of Telenor and will join a Digital Financial Services business in the U.K. as a CEO.

“I am extremely thankful to Telenor and to the Board for providing me the opportunity to serve the company and the cause of financial inclusion. Working with a winning team, to establish the bank as the leading Digital Financial Services Provider, has been a privilege. I wish Telenor Microfinance Bank the very best in continuing as a strong leader in digital financial services,” Ali said.

Roar Bjærum, Head of Telenor Financial Services, expressed, “Ali has been the key architect and driving force of the bank’s transformation journey: he and his team merged the Easypaisa and branch banking business, created an operationally efficient microfinance model and introduced digital lending. Ali is leaving behind a strong footprint, a solid strategy and a capable team. I would like to thank him for his vision and unconditional commitment to Telenor Microfinance Bank and the cause of financial inclusion. We wish him all the best for this next endeavor.”

Telenor Bank has appointed Shahid Mustafa as the new CEO, however his appointment is subject to approval from the State Bank of Pakistan (SBP).

Tameer Bank was renamed as Telenor Bank after the former fully acquired by Telenor Group. Pakistan’s leading payment service Easypaisa is also part of Telenor Bank.