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Mr. Muhammad Rashid Zahir re-elected as chairman of the Islamabad Stock Exchange board

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by January 27, 2012 General

Islamabad: Mr. Muhammad Rashid Zahir has been re-elected as Chairman of the Board of Directors of the Islamabad Stock Exchange (ISE). He has extensive executive/board level experience in commercial, development and investment banking.

He served as Chief Executive Officer of Saudi Pak Industrial and Agricultural Investment Company Limited from January 1991 to January 2011 and during this stint, Saudi Pak acquired a commercial bank and a leasing company and set up an insurance company and a real estate development company.

He has served on the Boards of several listed companies in a fiduciary capacity. He graduated from Government College, Lahore and obtained MBA degree from Institute of Business Administration, Karachi. Mr. Rashid Zahir has also been a director on the Board of ISE during 2001-2004, 2006 and 2010. He has also been Chairman of the Board during 2010-11.

The Board Members congratulated Mr. Muhammad Rashid Zahir upon his re-election as Chairman of the Board for consecutive second term. The Chairman thanked the Board for the trust reposed in him and assured that with the support of the Board members, he will be able to meet the challenges faced by the stock exchange.

Board expected that the ISE will make further progress under the auspices of its new chairman. The broker community and business fraternity has warmly welcomed the election of Mr. Rashid Zahir as chairman of the Board of Directors of the Exchange.

It may be mentioned that the Board of Directors of the ISE comprises ten directors out of which five are member directors and four are SECP nominee directors while the Managing Director is the tenth director on the Board by virtue of his office.

The Member directors include Mr. Farrukh Younas Khan, Mr. Fateh Khan Malik, Mr. Mohammad Masud Ch., Mr. Muhammad Sewhani and Mr. Zahid Latif Khan. The Chairman is elected from amongst the nominee directors. The other nominee directors for the term 2012 include Mr. Rashid Akhtar Chughtai, Mr. Umar Hayat Khan and Mr. Hussain Ahmed Ozgen.

For more information, contact:
Islamabad Stock Exchange
ISE Towers
55-B, Jinnah Avenue, Islamabad, Pakistan
Tel: +92(51)111-473-473
Fax: +92(51)111-473-329
Email: info@ise.com.pk

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