Fahad Ali Al Hunaiti has been appointed chairman of the board of Samba Bank Limited (PSX: SBL), replacing Mustafa Ilyas, as the Saudi-owned bank continues to face a potential change in control.
According to a company filing dated August 20, the appointment was approved at the board’s 136th meeting, with Al Hunaiti moving from his earlier position as a nonexecutive director to chairman.
The leadership change comes after several recent developments at Samba Bank. The bank appointed Rashid Jahangir as its full-time president and chief executive officer in February 2026, subject to State Bank of Pakistan approval.
Jahangir had previously served as acting president and CEO after joining Samba Bank in 2016 as chief financial officer.
The appointment of Al Hunaiti therefore comes at a time when Samba Bank is undergoing changes at both the board and management levels while a potential acquisition of its majority stake remains under consideration.
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