Faysal Bank CEO Yousaf Hussain Elected OICCI President
— September 30, 2024
ISLAMABAD (AIA) Yousaf Hussain, President and CEO of Faysal Bank Ltd., has been elected as the new president of the Overseas Investors Chamber of Commerce and Industry (OICCI). The announcement came alongside the election of Jason Avancena, Managing Director and CEO of Nestle Pakistan Ltd., as senior vice president, and Syed Ali Akbar, Managing Director and CEO of Pakistan Tobacco Company (Pvt) Ltd., as vice president, according to a news release.
The newly elected Managing Committee for the 2024-2026 term includes prominent business leaders from various sectors, such as banking, telecommunications, pharmaceuticals, and manufacturing, further strengthening OICCI’s role in Pakistan’s economic development. Members of the committee include Yousaf Hussain (Faysal Bank Ltd.), Jason Avancena (Nestle Pakistan Ltd.), Syed Ali Akbar (Pakistan Tobacco Company), Aamir Hafeez Ibrahim (Pakistan Mobile Communications Ltd. – Jazz), Ahmed Khan Bozai (Citibank NA Pakistan), Asif Ahmad (IBM Italia SPA), Farheen Salman Amir (Lipton Pakistan Ltd.), Fahd K Chinoy (Pakistan Cables Ltd.), Hafsa Shamsie (Roche Pakistan Ltd.), Javed Ghulam Mohammad (Martin Dow Marker Ltd.), Muhammad Adil Khattak (Attock Refinery), and Muhammad Jawaid Iqbal (United Bank Ltd.).The team aims to shape policies and create a more investment-friendly climate in Pakistan.
In his address to the OICCI members, Yousaf Hussain acknowledged the complex economic challenges Pakistan is facing but also pointed to emerging opportunities. “Pakistan is at a critical juncture. While inflation is easing and GDP growth is showing signs of recovery, there remain structural challenges. However, these challenges offer opportunities to push through necessary reforms, foster innovation, and promote a business environment that drives sustainable development,” Hussain said.
Outgoing president Rehan Shaikh, who will continue to serve as an ex-officio member of the Managing Committee, reflected on OICCI’s efforts to engage with government bodies and offer strategic solutions to economic challenges. “During the 2023-2024 term, OICCI actively showcased Pakistan’s investment potential to foreign delegations, positioning the country as an attractive destination for foreign direct investment,” Shaikh noted.
Yousaf Hussain, with over 25 years of experience, has held various leadership roles in multinational organisations and has been actively involved in strategic initiatives within the banking and financial sectors. He has worked closely with the State Bank of Pakistan, positioning himself as a key figure in economic reform and policy discussions.