News Category: Awards

I&M Bank Tanzania, CEO and Managing Director Mr. Zahid Mustafa has been nominated for 'Top Ranked CEO'  

APPOINTMENT OF BOARD CHAIRMAN I&M BANK (T) LIMITED. 

The Board of Directors of I&M Bank (T) Limited is pleased to announce the appointment of Mr. Madabhushi Soundararajan as the Board Chairman, with effect from 24th January 2024. Mr. Soundararajan was appointed to the Board of I&M Bank (T) Limited on 29th November 2023 as an Independent Non-Executive Director. Mr. Soundararajan’s illustrious banking career spans about four decades, initially in India and the United States of America and then in Kenya from 1988. He has held senior executive and leadership positions in Standard Chartered Financial Services as Assistant Director, Corporate Finance, Commercial Bank of Africa (now NCBA) as Director, Corporate Banking, CFC Financial Services (now SBG Securities) as its first Managing Director and CFC Bank as Managing Director before its acquisition by Stanbic Bank in 2008. He is currently the Country Head of Meghraj Group of Companies in Kenya. Mr. Soundararajan also serves on the Board of I&M Bank Kenya where he has been an Independent Non-Executive Director since 2009. He also sits on the boards of GA Insurance, GA Life Assurance, GA Insurance-Tanzania and Car & General (Kenya) Plc. He served on the board of Central Depository & Settlement Corporation (CDSC) for four years from 2004 to 2008. Mr. Soundararajan holds a Master of Arts degree from Madras University, India and a Certificate in International Banking from New York University.

BY ORDER OF THE BOARD 24th JANUARY 2024

Disclaimer: This announcement has been issued with the approval of the Central Bank of Tanzania (BOT). As a matter of policy, the Central Bank of Tanzania (BOT) assumes no responsibility for the correctness of the statements appearing in this announcement.

I&M Bank Tanzania CEO, Mr. Zahid Mustafa wins the ‘Most Inspiring Retail Banker of the Year’ award during 10th Africa Bank 4.0 Pan-Africa Summit in Nairobi.  I&M Bank Ltd Tanzania is proud to announce that our Chief Executive Officer, Mr. Zahid Mustafa, won the ‘Most Inspiring Retail Banker of the Year’ award during 10th Africa Bank 4.0 Pan-Africa Summit in Nairobi. Mr. Mustafa was part of the ‘CEO Inspirational’ panel on Strategic Adaption of Bank Readiness for the Future where Mustafa provided valuable insights based on his extensive experience in the banking industry. The summit featured prominent industry leaders from across the continent, including Rose Muturi (CEO of Branch Microfinance Bank), Raphael Lekolool (FCCA, CPA) (Managing Director of Postbank Kenya), and Fabian Kasi (Managing Director of Centenary Bank).