KARACHI – The Securities and Exchange Commission of Pakistan (SECP) Tuesday selected nominee directors on the board of Karachi Stock Exchange (KSE) for 2011 after a delay of over three weeks.
According to KSE sources, the apex regulator after a delay of 24 days had ultimately announced the four names of its nominee directors on the KSE board from the financial sector. Those nominated include Muneer Kamal, Shazad G Dada, Asif Qadir and Abdul Qadir Memon who officiate as KASB Bank Vice Chairman, Barclays Bank PLC Pakistan Chief Executive Officer, Engro Polymer President and Chemicals and Pakistan Tax Bar Association CEO and President, respectively.
The nominee directors will soon be joining the five member directors of KSE who were elected on December 29 last year, during the annual election for the next term. The elected directors include Abid Ali Habib, Mohammed Sohail, Zafar Siddiq Moti, Ashraf Bava and Muhammad Qasim Lakhani.
According to the Articles of Association of the Exchange, the SECP was required to nominate four non-member directors for the next term.
