OLP Modaraba Announces Appointment of Acting Chief Executive Officer
Karachi, May 9, 2026 — OLP Modaraba has announced the appointment of Mr. Faisal Riaz, Director of the Company, as the Acting Chief Executive Officer of OLP Services Pakistan (Private) Limited, the management company of OLP Modaraba.
The appointment becomes effective from May 9, 2026, and will remain in place until the necessary regulatory approval is received for Mr. Waqas Ahmad Khwaja, who has been approved by the Board as the new Chief Executive Officer of OLP Services Pakistan (Private) Limited.
The interim appointment ensures continuity in leadership and operations during the transition period. Mr. Faisal Riaz will oversee the company’s executive functions while the approval process is completed with the Registrar Modaraba Companies and Modarabas.
The company had previously informed stakeholders that the current Chief Executive Officer would not continue his employment contract beyond its expiry date on May 9, 2026. Following this development, the Board approved the appointment of Mr. Waqas Ahmad Khwaja as the incoming CEO, subject to regulatory clearance.
OLP Modaraba remains committed to maintaining operational excellence and delivering value to its stakeholders throughout the leadership transition.
