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, 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.