Sheikh Mukhtar Ahmad, a pioneer of Pakistan’s industrial sector and a respected Sponsor Director of Allied Bank Limited (ABL), passed away on Friday, the bank announced in a formal notice to the Pakistan Stock Exchange (PSX).
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“We are deeply saddened to inform that Sheikh Mukhtar Ahmad, respected sponsor director of Allied Bank Limited, has passed away,” read the notice.
A Legacy of Entrepreneurship:
Sheikh Mukhtar Ahmad was a towering figure in Pakistan’s business landscape, contributing significantly to the country’s economic and industrial growth for over six decades.
- Post-Partition Pioneer: He began his business career immediately after migrating from India during the Independence of Pakistan in 1947, applying his entrepreneurial skills and business acumen to build various industrial and financial enterprises.
- Decades of Service: With over 63 years of experience, he had served on the Board of Directors of Allied Bank Limited since 2005.
- Leadership Roles: He also held key positions across the Ibrahim Group, including serving 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 director of the Ibrahim Welfare Foundation.
Tributes Pour In:
Federal Minister of Interior Mohsin Naqvi expressed deep sorrow and grief over the passing of the prominent banker. The Interior Minister paid tribute to Sheikh Mukhtar Ahmad’s remarkable contributions to the banking and business sectors and extended his heartfelt condolences to the bereaved family.
