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Karachi Stock Exchange Board: Securities and Exchange Commission of Pakistan names independent directors

Islamabad: The Securities and Exchange Commission of Pakistan has re-nominated/ re-appointed Mr. Muneer Kamal, Shazad G. Dada, Asif Qadir and Abdul Qadir Memon on the Board of the Karachi Stock Exchange (KSE) for the 2012 term.

They had also served on the KSE Board last year as independent directors and their appointment can be seen as a fair balance of the requisite qualifications and skills on the board. Mr. Muneer Kamal, presently vice-chairman of the KASB Bank Limited, has over 28 years of extensive experience of the banking and financial sector during which he has served locally and internationally on senior positions at various renowned banks. Mr Shazad Dada, CEO, Barclays Bank PLC, Pakistan, is a seasoned banker and a prominent capital market professional. He has over 20 years of major national and international financial markets’ experience.

Mr Asif Qadir, president and CEO, Engro Polymer and Chemicals Limited, has over 30 years of management and marketing experience of the chemical and fertilizer sector and has served in key management positions on the chemical giant Engro Corporation Limited. Mr Abdul Qadir Memon, Fellow of the Institute of Taxation Management Pakistan and President, Pakistan Tax Bar Association, is a senior resource and is a renowned tax and corporate laws expert, possessing an in-depth knowledge about the various aspects and implications of the corporate matters and company laws.

It is expected that the KSE Board in particular and the capital markets in general, will continue to benefit from the mix of extensive knowledge, global experience and diverse expertise that the above professionals possess.

It is hoped that the directors will continue to contribute positively to promoting principles of good governance, transparency and will be instrumental in bringing about various capital market reforms.

For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +9251 921 4005 or 921 4009 (Ext. 378)
Fax: +9251 920 6459
Cell: +92302 855 2254
E-mail: shakil.chaudhary@secp.gov.pk

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