Bashir A. Tahir
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Bashir A. Tahir is a Pakistani banker and business executive with a career in international finance spanning over four decades. He is the former CEO of the Abu Dhabi Group and Dhabi Group, through which he oversaw more than US$3 billion in foreign direct investment into Pakistan's banking, telecommunications, and real estate sectors. He is also a former board member and CEO of Warid Telecom International LLC, a member of the Board of Wateen Telecom, and a former Member of the Board Advisory Committee and Board Audit Committee for Bank Alfalah Limited. Previously, Tahir served as General Manager and CEO of Union National Bank in the United Arab Emirates.[1]
Bashir Tahir | |
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| Born | |
| Education | Hailey College of Commerce, University of the Punjab |
| Awards | Sitara-e-Imtiaz (Star of Distinction) by the President of Pakistan, 2006 · Global Pakistani Award |
| Website | Bashir Tahir |
He was until recently a board member of the Board of Investment of Pakistan.
Education
Tahir completed his Bachelor of Commerce (B.Com) and Master of Commerce (M.Com) at Hailey College of Commerce, a constituent college of the University of the Punjab in Lahore, and one of the oldest institutions of commerce education in Asia.
Bank Alfalah
In 1997, Tahir advised Nahyan bin Mubarak Al Nahyan to acquire a 70 percent stake in Habib Credit and Exchange Bank, a three-branch institution operating on the former assets of Bank of Credit and Commerce International in Pakistan, for US$40.54 million, which was subsequently renamed Bank Alfalah.[2][3] Under his tenure as CEO of the Abu Dhabi Group, Bank Alfalah grew from its original three branches to become one of Pakistan's leading private commercial banks, expanding internationally into Afghanistan and Bangladesh from 2005.
Warid Telecom
In 2004, Tahir led the team that bid for and acquired a nationwide mobile telephony and long-distance international (LDI) licence in Pakistan for US$291 million, the first telecommunications venture of Warid Telecom International LLC.[4] Warid Pakistan commenced commercial operations on 23 May 2005, attracting over one million subscribers within 80 days of launch. In 2007, Singapore Telecommunications (SingTel) acquired a 30 percent stake in Warid Telecom for US$758 million, implying an enterprise value of approximately US$2.9 billion.[4]
In 2007, the Group's venture capital arm acquired a 50 percent stake in Arvato Middle East Sales, the regional affiliate of Bertelsmann, to develop converged digital media and entertainment services across the Group's GSM and WiMAX networks.[5][6]
United Bank Limited
In 2002, the Abu Dhabi Group under Tahir's leadership participated in the consortium that acquired a 51 percent controlling stake in United Bank Limited, one of Pakistan's largest commercial banks, alongside the Bestway Group of the United Kingdom, through the Government of Pakistan's privatisation process for US$208 million.[7]
Key transactions
During his tenure as CEO of the Abu Dhabi Group, Tahir led or participated in the following major transactions:
- Acquisition of Bank Alfalah for US$40.54 million through open bidding (1997)[2][3]
- Acquisition of 51 percent stake in United Bank Limited for US$208 million (2002)[7]
- Acquisition of Warid Telecom licence in Pakistan for US$291 million (2004), with the company subsequently valued at US$2.9 billion in 2007[4]
- Expansion of Warid Telecom into Bangladesh, Republic of the Congo, Democratic Republic of the Congo, Ivory Coast, Uganda and Georgia
- Acquisition of Wateen Telecom
- Acquisition of KOR Standard Bank (Georgia) for US$42 million (2008), subsequently rebranded as Terabank in 2016[8][9]
- Acquisition of 50 percent stake in Arvato Middle East Sales (AMES), regional affiliate of Bertelsmann Arvato Mobile, to develop digital media distribution across the Middle East, Africa and Asia (2007)[5][6]
Career
Tahir is a career banker since November 1962; with over forty years experience in finance and Tahir has over the past 12 years focused on advising and leading private equity and buyout ventures[10] for the members of the UAE royal family and their co-investors. Tahir is a pioneer for encouraging the collaboration of the various family offices of the ruling families in the region to help form what is now known as the Abu Dhabi Group.[1]
Under the Abu Dhabi Group consortium of investors, Tahir has been directly responsible for over US$3bn. worth of foreign direct investments into Pakistan's financial and telecommunications sectors. Tahir has advised on transactions worth US$500m overseas,[11] and has actively led investments into Africa and the CIS,[12] helping the Group to expand its presence into the banking and telecommunications sectors there.
Awards and recognition
- Sitara-e-Imtiaz (Star of Distinction) Award by the President of Pakistan in 2006 in recognition of his contribution to Pakistan's banking sector.[13]
- Global Pakistani Award as acknowledgement of his services towards building stronger economic ties between the UAE and Pakistan.