Lahore: As shareholders of Faysal bank protest on hefty amount of bank president’s salary of Rs. 180 million annually, the president and the his administration left annual general meeting (AGM) on fear of being beaten.
Shareholders began to start chanting slogan as they left the meeting, some of shareholders said.
The bank has called the AGM at Institute of Bankers to get approval of the annual bank agenda from shareholders.
As the meeting, held a couple of days back, started to discus the agenda, Â shareholder protested against the high salary of bank president.
The bank administration expelled one of shareholder Hanif from the meeting on raising the issue enraging other shareholders.
Soon after the uproar in the meeting, Faysal Bank President and Chief Executive Officer Naveed khan, Chairman Board Naseem Ahmed, Secretary  Islam and other officers escaped from the spot.
As a result, the annual agenda of the bank did not get approval.
Muhammad Hanif said that the same incident occurred one year ago when shareholders demanded to reduce the salary of bank president.
The administration of bank promised that the salary of president would be reduced but they rather increased his salary to180 million.
“The move seems to be one damaging rights of shareholders and profiting to the president and administration, he said.
“Indecent behavior of the administration with me made other shareholders angry and some of them ran behind the president and admin people.”
There are around 100 shareholders who have invested in Faysal Bank.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription