Dr. Rashid Bajwa is an Independent Director.

An eminent development professional, Dr. Bajwa is leading the only countrywide development programme: National Rural Support Programme (NRSP) in Pakistan. He is implementing one of the largest microfinance programmes in Pakistan. He has helped in setting up Khushaali Bank, while also providing guidance to other non-profits as Chairman of Pakistan Microfinance Network, Director of Khushaal Pakistan Fund, Punjab Rural Support Programme and Sindh Rural Support Organization.

He holds an MPH degree from the UK and an MBBS from Pakistan. He has extensive experience in the fields of management, social mobilisation, community development, microfinance and policy.

Mr. Ejaz Ali Shah is the Managing Director of Pakistan Mercantile Exchange Limited. He has over two decades of diversified experience in domestic and international financial markets.

Previously, he served for 16 years as General Manager at Central Depository Company of Pakistan Limited (CDC). As a part of CDC’s founding team, Mr. Shah played a vital role in developing, positioning and nurturing CDC as a diversified service provider in Pakistan.

Before CDC, Mr. Shah has served in Cordoba Corporation, USA and Fidelity Investment Bank Limited, Pakistan. He also served as the National Chair for International Public Relations Association (IPRA) for the years 2010-11.

Mr. Shah graduated from the University of Oklahoma with Bachelor of Business Administration (MIS).

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Mr. Aftab is the Nominee Director of SECP at PMEX. He is currently working as Senior Policy Advisor and officiating Deputy Chief of Party at USAID Pakistan’s Financial Market Development Project.

Before joining FMD, Mr. Aftab served as the CEO of Lahore and Islamabad stock exchanges, and COO/CEO Designate of National Asset Management Company in Pakistan. Besides, he also acts as the Honorary Secretary General of the South Asian Federation of Exchanges, ISE Tower REIT Management Company, Institute of Financial Literacy and AIESEC Pakistan National Board.

He has also been a Board/Committee member of other capital market entities and bodies, such as Federation of Euro Asian Stock Exchanges (FEAS), National Commodity Exchange, Pakistan Credit Rating Agency, JCR-VIS Credit Rating Company, Institute Of Financial Markets Of Pakistan (IFMP) and Pakistan Institute of Corporate Governance.

In addition, Mr. Aftab has worked on few advisory/consulting assignments related to the capital markets, infrastructure and corporate finance etc. in the South Asian region such as Infrastructure Project Development Facility in Pakistan, restructuring & privatization of Maldives Stock Exchange and Depository Company; system requirement identification for Chittagong Stock Exchange, Nepal Stock Exchange and the demutualization plan for the Chittagong Stock Exchange.

Mr. Aftab has about 30 year experience in a variety of progressive assignments at different entities both within and outside Pakistan. He started his career as a commissioned officer, which he resigned subsequent to his MBA degree, while on extra ordinary leave. He has also worked on a logistics assignment during United Nations Operations in Somalia (UNOSOM).

Mr. Aftab holds an MBA degree from Nicholls State University, Thibodaux and is also a graduate of the Executive Management Program from the Stanford University, USA.

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Mr. Ahmed Chinoy is the Nominee Director of Pakistan Stock Exchange (PSX) at PMEX. He is the Managing Partner of Arch Group of Companies and is engaged with overseeing various businesses in different sectors such as security investments, textiles, real estates and poultry.

Mr. Chinoy is a well-known personality and has been privileged to serve the society in different capacities in various fields such as crime issues, business, education, health and social services. He also served as the Chief of Citizen Police Liaison Committee (CPLC) from the years 2010 to 2015.

Mr. Chinoy is the Director of AKD REIT Management Company Limited since 2011 and of Creek Developers (Private) Limited since 2007. For his meritorious services towards the service sector for the betterment of the nation, he was awarded prestigious national awards; Hilal-e-Imtiaz (H.I.) and Sitara-e-Imtiaz (S.I.). Mr. Chinoy is also a PSX nominee Director on the Boards of National Clearing Company of Pakistan Limited and JCR-VIS Credit Rating Company Limited.

He is qualified from Institute of Cost & Management Accountants of Pakistan (I.C.M.A.P) and holds a Bachelor’s Degree in commerce from University of Karachi.

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Dr. Fatima Khushnud is an Independent Director. She has 15 years of diverse work experience in corporate finance, power sector advisory, infrastructure finance, advisory, consulting, academics, research and training.

At present, she is Chief Executive Officer at Independent Power Producers Association (IPPA) and Head of Sector Skills Council at Renewable Energy (SSC-RE). She represents IPPs with power sector stakeholders including Planning Commission, MOW&P, MOF, NEPRA, NTDC, ICAP, SECP on industry issues and policy making forums. Within Education sector, she has been involved with academic institutes in instructional design for higher education academic programs.

Dr. Khushnud has a PhD in Corporate Finance, Essays in Asset Pricing, from University of Western Australia, Perth, Australia and Masters of Applied Finance with Distinction from Monash University, Melbourne, Australia.

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Mr. Rehan Mobin is the nominee director of National Bank of Pakistan at PMEX. He is presently serving as Senior Vice President/ Divisional Head Equity Market. Mr. Mobin is an investment specialist having expertise in equity and debt markets. He has an enrich experience of over twenty years in the field of investments. He was earlier associated with Askari Bank as Head of Equity Capital Markets and served as a Chief Investment Officer at JS Investments Limited. He also worked in senior roles at National Asset Management Company Limited and KASB Securities Pvt. Limited (local affiliate with Bank of America, Merrill Lynch).

He holds a Master’s Degree in Finance and was also a Member Governing Board of Society of Technical Analysts of Pakistan (STAP), affiliated with International Federation of Technical Analysts.

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Mr. Farrukh Khan is the nominee director of Pakistan Stock Exchange. At present, he is the Chief Executive Officer (CEO) of Pakistan Stock Exchange Limited. With over 30 years of senior management and board-level experience, Farrukh is an experienced entrepreneur, and leading business and financial advisor who has advised on many landmark transactions. Previously he has held senior positions with Acumen in Pakistan & the UK, including Country Director & CEO, Pakistan, Senior Director Business Development, Chief Business Development Officer and member of the Management Committee. Mr. Khan was the founding partner and CEO of BMA Capital Management Limited. Under his stewardship, BMA established itself as the leading investment banking group in Pakistan and received several international awards, including the 2010 Euromoney award for the best investment bank in Pakistan. His experience includes lead managing the US$813 million GDR offering and London listing of OGDCL, Pakistan’s largest listed company, and successfully advising Etisalat on their $2.6 billion acquisition of Pak telecom, the largest mergers and acquisition transaction and the largest foreign direct investment in Pakistan’s history. Other historical transactions include the US$ 1.5bn privatisation of Kot Addu Power Company and the US$898 million GDR offering for Pak Telecom. He has advised, either on the buy or sell side, on almost 50% of all successful privatisations in Pakistan, totalling over $4bn in value. He has also worked with American Express Bank in Pakistan and Deloitte in London.

Mr. Khan has an excellent network and deep knowledge of global business and investments. He has previously served as President of Overseas Investors Chamber of Commerce & Industry (OICCI), Chairman of the Young Presidents’ Organization, Pakistan Chapter and on the boards of prominent public and private sector organisations. He was also associated with the Securities and Exchange Commission of Pakistan as a member of its Policy Board from 2018 to 2019. Mr. Khan was selected by Euromoney as one of the top 50 global financial leaders, below the age of 40 years. His philanthropic interests include children’s health and education.

He qualified as a Chartered Accountant from the Institute of Chartered Accountants in England and Wales, United Kingdom (UK), and also holds a BA (Hons.) in Economics and Finance from the University of Manchester.

Other current Directorships/Offices:

• National Clearing Company of Pakistan Limited, Director
• Pakistan Mercantile Exchange Limited, Director
• Acumen Pakistan, Non-Executive Director
• Pakistan International Airlines Corporation Limited, Non-Executive Director
• Acumen Academy, UK, Trustee
• Pakistan Environment Trust, UK, Trustee/Director

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Dr. Yusuf Zafar is an Independent Director.

He has 35 years of experience in the life sciences/biotechnology, and is involved in research and development (R&D) activities related to academics, R&D, and agro-biotech. At present, he is Chairman of the Pakistan Agricultural Research Council (PARC) in Islamabad, Pakistan. He is founding member of the National Institute for Biotechnology and Genetic Engineering (NIBGE) and School of Biotechnology, and the National Institute for Genomics and Advanced Biotechnology (NIGAB), among other institutions.

Dr. Zafar has a PhD in Bio Sciences from the QAU Islamabad, Pakistan/Hanover University Germany. He was bestowed the Best Scientist of the Year Award by ICAC, Washington DC, USA in 2012. Other awards include the Medal of Distinction (Tamgha-i-Imtiaz) by the Government of Pakistan 23 March (2004) and Best Scientist by the Pakistan Atomic Energy Commission (2000).

He has more than 200 publications in international reviewed journals with a high impact factor and is among the top 35 scientists whose works collectively account for over 1,500 citations. He holds the position of Visiting Professor at the National Institute for Biotechnology and Genetic Engineering (NIBGE)/Pakistan Institute of Engineering and Applied Sciences (PIEAS), Islamabad, Pakistan, and at NIGAB/PARC, Islamabad.

Mr. Zahid Latif Khan is the nominee director of Islamabad Stock Exchange Limited (ISE) at Pakistan Mercantile Exchange Limited. Presently, he is the Chairman and Chief Executive Officer of M/s Zahid Latif Khan Securities (Pvt.) Limited, one of the leading corporate brokers of PMEX as well as ISE. Besides running an independent corporate brokerage entity, Mr. Khan also has the distinction of serving as Board member of other capital market institutions such as NCEL Building Management Limited and Metropolitan Solutions (Pvt.) Limited. In addition, he is the Chairman of the Banking and Capital Markets Committee of the Rawalpindi Chamber of Commerce & Industries (RCCI).

During his involvement at the leadership level on the Boards of these capital market institutions, Mr. Khan has been instrumental in advancing the idea of corporate social responsibility and in the implementation of modern governance standards. In addition to his regular contributions at the Board level, Mr. Khan has the distinction of playing key role in the establishment of Unified Trading Platform between Lahore and Islamabad Stock Exchanges, and the operationalization of the PMEX, both of which are considered to be the landmark initiatives at the capital market landscape of the country.

As the Chairman and CEO of his securities firm, Mr. Khan is credit for expanding the network of retail brokerage outlets which has been remarkable growth in the business of his firm besides promoting the culture of stock investments amongst the smaller investors.

Mr. Khan holds a Bachelor degree and has also participated in various other domestic and international training programs, seminars and conferences.

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Ejaz Ali Shah is the Managing Director of Pakistan Mercantile Exchange Limited. He has over two decades of diversified experience in domestic and international financial markets.

Previously, he served for 16 years as General Manager at Central Depository Company of Pakistan Limited (CDC). As a part of CDC’s founding team, Mr. Shah played a vital role in developing, positioning and nurturing CDC as a diversified service provider in Pakistan.

Before CDC, Mr. Shah has served in Cordoba Corporation, USA and Fidelity Investment Bank Limited, Pakistan. He also served as the National Chair for International Public Relations Association (IPRA) for the years 2010-11.

Mr. Shah graduated from the University of Oklahoma with Bachelor of Business Administration (MIS).

Farhan Tahir is Chief Financial Officer & Company Secretary at PMEX. He joined PMEX in November 2007 as Manager Compliance. Prior to joining PMEX, he was working in KPMG Taseer Hadi & Co. Chartered Accountants as Manager Audit.

He is an associate member of Institute of Chartered Accountants of Pakistan

Adnan Hafeez has over two decade of experience in Accountancy, Audit, Finance, and IT. He has served Multinational Companies like DuPont and two of the big four Audit firms, PricewaterhouseCoopers and Ernst & Young in Pakistan and Middle East for more than 18 years.

Furthermore, he is certified Six Sigma Green Belt and has led business transformations, process improvements, system deployments and has optimized resource utilization. Adnan has also been part of Rotary International for multiple years.

He holds an MBA Finance degree from International University of Missouri (Pakistan campus).

Shehzad Hussain Makhani  is Chief Risk Officer at PMEX. Prior to becoming CRO, he has served as Head of Operations and Chief Operating Officer at PMEX.  Shehzad is an associate member of Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) and also Certified Information System Auditor (CISA) of Information System Audit Control Association (ISACA). Prior to joining the Exchange, Shehzad had completed four years mandatory training under Chartered Accountants Bye-Laws from M/S KPMG Taseer Hadi & Co., Chartered Accountants in April 2004 and gained extensive experience in financial and IS audits of various companies, local and multinational entities including financial institutions.

Zahid Mansoor Ali is Chief Business Officer (CBO) at PMEX. He has over three decades of diversified experience in domestic and international financial markets. He has spent 27 years in the banking industry specifically in the field of Treasury. He has worked for Commercial, Islamic and Investment banks and brokerage firms. He holds an MBA (Finance) degree from Institute of Business Administration (IBA).

Tariq Nafees has been associated with PMEX since 2007 and is currently heading the Operations department.

Over the years, Tariq has played a pivotal role in the development of standard operating procedures and guidelines of the Market Operations and Clearing & Settlement.

He obtained his Master’s Degree from University of Karachi and has over 20 years of experience across diverse industries such as – edible oil, technology, textile and machinery.

Mr. Muhammad Atif Hussain is Head of Information Technology at Pakistan Mercantile Exchange Limited. He is an expert in information technology with diversified experience and also a Microsoft Certified Trainer (‘MCT’). He is part of the technology fraternity for the last 18 years and has an exceptional knowledge and diversified experience in various applications and systems.

Prior to joining PMEX he was associated with ICI Pakistan and led the team overseeing Information Technology functions, especially Microsoft Application, Infrastructure and Information Security for 8 years. Before that he has served Takaful Pakistan Limited for eight years as Head of Information Technology.

He has represented Pakistan in two international MCT Summits, one held in Yorkshire, UK (in 2010) and other held in Stockholm, Sweden (2012).

The certifications attained by him includes MCP, MCAD, MCSD, 8 MCTS, MCPD, CISA (Certified Information System Auditor) and CISM (Certified Information Security Manager). He enjoys the distinction of being a community speaker and representing Microsoft Innovation Centre and Microsoft Pakistan, and presenting Microsoft latest tools and technologies at different universities and institutes.

His contributions in technology community has been well-recognized and appreciated by multiple institutions and industries. He has been awarded Microsoft Community Contributor Award in 2011 and IDEAL ICT Excellent Awards 2012 for Excellence in IT Education category. His exceptional contributions have also been recognized by Microsoft for consecutive 5 years by awarding him Microsoft Most Valuable Professional Award.

He has done Masters in Computer Sciences from University of Karachi and MS in Software Engineering from SZABIST.

Syed Mumtaz Ali is working as Head of Legal & Membership at PMEX. He joined PMEX in October 2013 as Manager Internal Audit. He has also served as Chief Compliance Officer and Chief Regulatory Officer from June 2015 to May 2021. He has over 25 years of professional experience. Prior to joining PMEX, he worked for the Central Depository Company of Pakistan (CDC) for 11 years. He played a vital role in devising scope of compliance audit of Stock Brokers besides being part other key projects including Business Continuity certification (BS25999).

He has conducted various training programs for the education of brokers. He has also undertaken various courses on compliance, anti-money laundering, internal audit, leadership, time management and business communication. Before CDC, he was associated with E&Y Ford Rhodes Sidat Hyder, Chartered Accountants.

Mr. Ali is a diversified professional and has been contributing towards the development of PMEX.

Previously, she had worked for multiple startup ventures of PlanetN Group of Companies, Deloitte Pakistan, Berlitz Pakistan, Mercer Canada, Royal Bank of Canada where she gained and experienced core functions of Human Capital & Marketing.

She is currently an Executive MBA student at Institute of Business Management (IoBM) in Karachi, Pakistan. Prior to this, all of her schooling and higher education has been completed from Toronto, Canada. She holds a Business Administration – Human Resources 3 year Advanced Diploma equivalent to 3 years BBA accredited by HEC Pakistan.

Kashif Shahzad joined PMEX in September 2017 as a Head of Internal Audit. Shahzad has completed his mandatory training under Chartered Accountants Bye-Laws from M/S KPMG Taseer Hadi & Co., Chartered Accountants in April 2010. Shahzad has over 3 years of experience of functions such as Internal Audit, Accounts and Corporate Secretarial Practices with one of the listed brokerage houses. He has also worked as Manager Finance with a NGO funded by UNAIDS and The Global Fund. Shahzad is an associate member of Institute of Chartered Accountants of Pakistan (ICAP) and Pakistan Institute of Public Finance Accountants (PIPFA).