DR. IZHAR HUSSAIN (Chairman of the IFMP Board)
Dr. Izhar Hussain is currently associated with the Institute of Business Administration, Karachi (IBA) as Director Center for Executive Education, where he has successfully rejuvenated the executive education into a thriving center at the institute.
Before joining IBA, he was associated with Abbott Laboratories for over 30 years where he served as a director in various regional roles including Marketing Services, Supply Chain and Business Excellence and Development covering emerging markets including MENA, Asia Pacific, and East Europe. Earlier, he has been associated with the Ministry of Health Libya for coordinating WHO-UNICEF projects in the Eastern Mediterranean Gulf.
Dr. Hussain holds a Ph.D. and an MBA in Marketing. He is also a Certified Auditor for ISO 9000, Certified Six Sigma Black Belt and UNDP Certified Trainer for the Directors’ Training Program. He has been imparting training within and outside Pakistan having taught in various business and pharmacy schools for the last 25 years. He is also engaged with various institutions for their curriculum development, and acting in an advisory capacity on various boards and professional bodies such as National Training Services.
Dr. Hussain currently serves as the chairman of the Institute of Financial Markets (an institute formed under the SECP), and an independent member of the Board of Directors of Pakistan Security Printing Corporation (PSPC). He is also serving on the editorial boards of the British Journal of Pharmacy and Journal of Strategy and Performance Management. He regularly publishes research papers and articles in journals, local newspapers, magazines, and periodicals.MR. ABDUL QADIR MEMON (Independent Director, Chairman of the Audit & Risk Committee of IFMP)
- President Pakistan Tax Bar Association for the terms 2009-2011 and 2017-2019;
- Director State Life Insurance Corporation of Pakistan for the term 2018-2021;
- Member Executive Committee The Patients’ Behbud Society for AKUH for the term up-to May,2020;
- Vice President Pakistan Billiard & Snooker Association for the term 2017-2021;
- SECP Nominee Director on the Board and Chairman Audit & Taxation Committees of Pakistan Stock Exchange [Formerly Karachi Stock Exchange] for the years 2011, 2012 , 2012- 2015 and 2016;
- Chairman, National Clearing Company of Pakistan for the year 2011;
- Chairman Taxation Committee of Pakistan Stock Exchange[Formerly Karachi Stock Exchange] for the years 2011, 2012 ,2012- 2015 and 2016-2018;
- Director , National Clearing Company of Pakistan Limited for the years 2011, 2012 , 2012- 2015 and 2015-17;
- Chairman Audit Committee of National Clearing Company of Pakistan Limited for the years 2015 and 2016;
- Former Director, Institute of Corporate Governance for the years 2014-16;
- Former Member Tax/Revenue Advisory Council, Revenue Division, Ministry of Finance, Pakistan;
- Vice President, Asia- Oceania Tax Consultants’ Association for the term 2011-2013;
- Former Member Competition Commission of Pakistan Consultative Group;
- Former Member “Committee of Expert” constituted by the Federal Board of Revenue;
- Member Advisory Committee - Federal Tax Ombudsman for the 2003-2010 and 2018-19;
- Senior Vice President, Pakistan Tax Bar Association for the term 2007-2009;
- President Karachi Tax Bar Association, Karachi for the term 2002-2003 and 2008-2009;
- Former member Federal Board of Revenue’s Alternative Dispute Resolution Committee.
- President Memon Professional Forum for the term 2000-2001;
- National President, Secretary General and Vice President Pakistan Junior Chamber (JCI) for the years 1998, 1996 and 1995 respectively;
- Executive Member Health and Nutrition Development Society (HANDS) for the years 2002-2004, 2005-2006, 2007-2008, 2009-2010, 2011-2012, 2013-2014 and 2015-2017
- Trustee Memon Health and Education Foundation;
- Member Managing Committee United Memon Jamat for the term of 2017-2019;
- Member Managing Committee All Pakistan Memon Federation for the years 2002-04, 2008-09, 2009-10 and 2010-2011;
- Founder member Cleft and Contracture Foundation;
- Member Managing Committee, Sir Adamjee Institute;
- Vice President and Secretary General Karachi Tax Bar Association for the years 1997, 1993 & 1992;
- Development Officer, JCI Asia Pacific Development Council for the years 1995, 1996 and 1997;
- Director of First JCI APDC International Meeting in Karachi Pakistan;
- Member Managing Committee Memon Professional Forum for the years 1994, 1995, 2000, 2001, 2002 and 2003;
- Member Managing Committee "Karachi Club" for the years 2005 , 2007 and 2008;
- Director, Junior Chamber International Asia Pacific Senate for the term 2005-2006;
- Former Lecturer at the Institute of Cost & Management Accountants of Pakistan, (ICMA) Karachi for "Laws of Taxation"; and
- Former Lecturer at Commecs Institute of Business Education (CIBE), Karachi for "Laws of Taxation".MR. AZFAR AHSAN (Independent Director)
Muhammad Azfar Ahsan is a Change Activist, non-partisan Political Analyst and Entrepreneur based out of Pakistan. Azfar is Founder of CORPORATE PAKISTAN GROUP - CPG. CPG is a vibrant group of 256 individuals including corporate & business leaders, ministers, senators, governors, federal secretaries, politicians, distinguished academicians, energy experts, tech entrepreneurs, defense personnel, foreign policy experts, media practitioners and movers and shakers of civil society.
As Founder & CEO of Nutshell Forum; an international conference management and training resource organization, he has organized more than four hundred national and international conferences, seminars, training workshops and group discussions in Pakistan; Singapore; Malaysia; Sri Lanka; Dubai; and Bahrain. He is the thought leader behind Pakistan's biggest corporate event LEADERS IN ISLAMABAD Summit; an annual leader's conference in Islamabad attracted global leaders from various backgrounds as speakers. He hosted hundreds of foreign nationals in Pakistan in last fifteen years.
Azfar is the Member Executive Council of Marketing Association of Pakistan; an apex body of marketing in Pakistan. He served as Chairman of MARCON; Pakistan's flagship marketing event. In last fifteen years, he managed dozens of community projects all over Pakistan in the field of health and education. He is affiliated with several professional organizations including Pakistan, US Alumni Network; OPEN – Organization for Pakistan Entrepreneurs in North America; International Federation for Training & Development Organizations – IFTDO; Bahrain Society for Training & Development; Dubai HR Forum; and English Speaking Union of Pakistan.
In 2008 US State Department invited him as 'State Guest' under the auspices of International Visitor Leadership Program (IVLP - the most prestigious program of US State Department) on “NGO Management”.
Azfar also initiated to publish a book called “PAKISTAN: Charting Its Untapped Potential” (concept note is enclosed).
In September 2017 Azfar initiated the advocacy campaign REVIVING KARACHI and engaged leadership of six mainstream political parties of Karachi including PML-N, PPP, PSP, PTI, MQM-P and JI. In October 2017 he hosted National Dialogue on REVIVING KARACHI at Move pick Hotel, Karachi with representation of all above mentioned political parties leadership and Governor Sindh and 600 civil society leaders.
Specialties: Image Marketing, Engagement of Civil Society, Conference Management; Corporate & Business Collaborations; and Management of Non-profit Organizations.MS. KAHLIDA HABIB (Nominee Director)
Ms Khalida Habib is currently working as Executive Director heading Anti-Money Laundering (AML), Investor Education and International Relations Department at the SECP. She has experience of more than 20 years of professional experience. She holds Master’s (MBA) degree in Finance from Quaid-e-Azam University Islamabad. She has led various policy level initiatives for SECP’s strategy on adoption of key global priorities for regulation of capital markets, insurance and corporate sector of the country. She also led the Planning Commission Working Group for developing Corporate Governance Framework for Pakistan’s Vision 2015. She also spearheads the development and implementation of the SECP’s policy for Investor Education and protection across the country.DR. FATIMA KHUSHNUD (Nominee Director)
Dr. Fatima Khushnud has diverse experience in, corporate finance, infrastructure finance, advisory, consulting, academics, research and training. She is a privatization specialist, a practitioner, an academician, trainer and a consultant. She has experience advising privatization transactions by aligning the financial valuations with the market insights assessing the technical and financial capacity of banking sector to provide long-term capital for infrastructure projects and content development for IFC Women Entrepreneurship Training Program.
She has a PhD in Corporate Finance, Essays in Asset Pricing, from University of Western Australia, Perth, Australia, Masters of Applied Finance with Distinction from Monash University, Melbourne, Australia and MBA with Silver Medal from Bahria University, Islamabad. Dr. Fatima is a PhD supervisor at Bahria University Islamabad, visiting faculty at Szabist and Fast university. Her association with academics and education is not only her passion but also her way of contributing to the education sector.
As a consultant, she has been affiliated with various multilateral organizations, government, academics and private organizations. She has consulting experience with World Bank, Asian Development Bank, University of Western Australia, Privatization Commission and Management Development Institute (MDI) Islamabad
Dr. Fatima is a Certified IFC Business Edge Trainer, Mentor and Advisor to various organizations in the area of entrepreneurship including The Indus Entrepreneurs (TIE) for startups programs, Accelerate Prosperity-An AKDN program and a Trainer and Mentor for Women in Renewable Energy (WIRE) - Ausaid funded program, and South Asia Gender and Energy (SAGE) initiative-a World Bank funded venture. She has conducted trainings for prestigious institutes like Faculty Development Academy (FDI) Comsats Institute of Technology, WAPDA Administrative Staff College, Pakistan Telecom Authority, Curtin University and Murdoch University, Perth, Australia in the areas of finance, institutional design, organizational behavior, SDGs, women entrepreneurship and content development.
As an academic she has been involved in instructional design for higher education academic programs. Her key involvement in financial planning, budgeting, forecasting, reporting, compliance and control functions; as well as being a key team member in the NBEAC accreditation process gives her an edge in knowing the strategic planning arm of academics well.
She has also worked at planning stage (concept note) in designing an endowment fund for Bahria University.
At present she is heading Independent Power Producers Association (IPPA), which offers Advisory & Research Services to shape the future of Electricity Sector in Pakistan. IPPA is based in Pakistan but global in scope. IPPA aspires to emerge as a Think Tank for the Energy Sector, by any measure an organization that creates real value for its IPP members and industry stakeholders by delivering high-quality research, advisory services, policy recommendations and globally recommended solutions; employs the best people, nurtures them, and enables them to succeed; and steadfastly commits itself to an ethic of honesty and service
Dr. Fatima has a keen interest in development through entrepreneurship. She has presented her research work at international conferences in many countries. She has travelled extensively both internationally and nationally and has curiosity to learn about cultures, customs and people. She makes use of her leisure time by volunteering for educating the underprivileged women and youth about preserving environment, personal development, professional development, travelling exploring nature and trekking.MR. HASANALI ABDULLAH (Nominee Director)
Mr. Hasanali Abdullah is Chartered Accountant and Certified Director from Pakistan Institute of Corporate Governance (PICG). He has been associated with EFU General Insurance Ltd. since 1979 and is Managing Director & Chief Executive of the company from 2011. He is Director of EFU Life Assurance Ltd., Allianz EFU Health Insurance Ltd., EFU Services (Private) Ltd., Tourism Promotion Services (Pakistan) Limited (owners of Serena Hotels in Pakistan), Honorary Treasurer of Aga Khan Hospital & Medical College Foundation, Member of National Committee of Pakistan Branch of Aga Khan University Foundation Geneva. Director of Institute of Financial Markets of Pakistan.
He has served on the Boards, Council and Committees of various Aga Khan Development Network institutions from 1976 to 2002. He has been Director of PICG in 2011, Chairman of Insurance Association of Pakistan for the year 2008, 2010 – 11 and 2016 – 2017, Executive Committee Member of Federation of Pakistan Chambers of Commerce & Industries for 2011 & 2017 and Chairman of Pakistan Insurance Institute 2014 – 15.MR. M. ASIM (Nominee Director)
Asim holds more than 15 years professional experience and is a passionate Investment Management Professional. Currently, he is the Chief Investment Officer of MCB Arif Habib, overseeing assets of more than USD 750m in fixed income and equity funds. He started his career as a Buy Side Analyst and progressively took roles of Research Supervision and Portfolio Manager before becoming CIO in 2014. For the decade 2008-17, core Equity Fund Return was nearly twice the benchmark KSE100 Index while beating 90% of Equity Funds
Industry, holding top position on several instances on yearly returns. Asim has managed funds in equity, fixed income and hybrid strategies and has overseen funds in both active and passive styles. Macro driven Top Down approach is his key strength.
Mr. Asim is an MBA with majors in Finance from Institute of Business Administration, Karachi. He also holds CFA Charter from CFA Institute, USA. Asim has attended Harvard University, USA for Investment Management Workshop in 2018. Asim is currently the President of CFA Society Pakistan and has been a passionate volunteer for several years. Asim has served as member of Board of Directors and as General Secretary of CFA Society Pakistan. He has also served as Country Representative & GIPS Chair for Global Investment Performance Standards by CFA Institute. He has also has served as mentor, grader and judge for Research and Capital Markets Annual Awards for more than 7 years and has represented CFA Society Pakistan on various Academic and Professional Domestic & Int’l Forums including CFA Institute Global Research Challenge as a Judge.MR. EJAZ ALI SHAH (Shareholder’s Director)
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).MR. BADIUDDIN AKBER (Shareholder’s Director)
Mr. Badiuddin Akber was previously serving as the Chief Compliance and Risk Officer at CDC since June 2015 before being elevated to the position of Chief Executive Officer on January 01, 2019. He was also the nominated Chairman of the Oversight Committee formed by the Securities and Exchange Commission of Pakistan under Joint Inspection Regulations, 2015.
Mr. Akber has more than 20 years of diversified senior management experience in the fields of finance and operations. He has served in various renowned conglomerates in Pakistan as Head of Finance and Company Secretary. He has also served as the Chief Financial Officer and Chief Operating Officer at the National Clearing Company of Pakistan Limited.
Mr. Akber has demonstrated extensive expertise in the spheres of Financial Management, Clearing & Settlement, Risk Management, Operations, Product Development and Project Management in the Pakistan Capital Market. As Chief Operating Officer at NCCPL, he played an instrumental role in the implementation of various significant products, services and reform measures which include Revamping of Capital Gain Tax Regime, Unique Identification Number (UIN), Institutions’ Risk Management System, Straight Through Processing of Market Settlements and UIN Information System (UIS) and in the introduction of Leverage Products such as Margin Trading, Margin Financing and Securities Lending & Borrowing.
After completing his Bachelor’s Degree in Commerce from the University of Karachi, Mr. Akber attained various professional degrees in accounts and finance from prestigious national and international institutions. In addition to being a Fellow Member of the Institute of Cost & Management Accountants of Pakistan (FCMA), he also holds ACMA-CGMA (Chartered Global Management Accountants) qualification from the Chartered Institute of Management Accountants (CIMA – UK) and qualification of Chartered Professional Accountant (CPA, CMA – Ontario, Canada).
He has attended the Annual International Institute for Securities Market Growth and Development by the US Securities & Exchange Commission and various seminars and conferences in UK, India, Europe and Far-East countries on risk management, clearing & settlement and surveillance of capital market operations.MR. AHMED CHINOY
Mr. Ahmed Chinoy is an elected Director on the Board of Pakistan Stock Exchange Limited. He is the Managing Partner of Arch Sons Group of Companies and is engaged in overseeing various businesses such as security investments, textiles, real estate and poultry farming.
Mr. Chinoy is qualified from Institute of Cost & Management Accountants of Pakistan (ICMAP) and holds a graduate degree in Commerce from University of Karachi. He is also a certified director from Pakistan Institute of Corporate GovernanceZZMr. Chinoy is a prominent business and social figure in Pakistan. He has served the society in different capacities in the areas of business, education, health, crime prevention and other social services and has rendered invaluable services to the nation in these fields. He has successfully served as Chief of Citizen Police Liaison Committee, Sindh (a citizens’ body for prevention of crimes) from the year 2010 to 2015. He has also been actively serving on the Boards of various hospitals and educational institutions and has been heading the Memon Community as the President of All Pakistan Memon Federation. Previously, he has served on the Managing Committee of Federation of Pakistan Chamber of Commerce & Industry for many years and has also remained as Chairman of Pakistan Cloth Merchants’ Association (the apex body of textile exporters). For his services to the people of Pakistan, he has been awarded prestigious national awards of Hilal-e-Imtiaz (H.I.) and Sitara-e-Imtiaz (S.I.).
Mr. Chinoy is nominated by PSX to serve as Director on the Boards of Central Depository Company of Pakistan Limited, National Clearing Company of Pakistan Limited and Pakistan Mercantile Exchange Limited. He has also been appointed as the member of Audit Committee and Listing & Voluntary De-Listing Committee.
Other Directorships and Offices:
- Managing Partner, Arch Sons
- Managing Partner, Arch Industries
- Director, AKD REIT Management Company Limited
- Director, Creek Developers (Private) Limited
- Managing Partner, Lotus Properties
- Partner, Golden Livestocks
- Partner, Al-Karam Builders & Developers
- Partner, Al-Karam Lagoon
- Nominee Director of PSX, Central Depository Company of Pakistan Limited
- Nominee Director of PSX, National Clearing Company of Pakistan Limited
- Nominee Director of PSX, Pakistan Mercantile Exchange LimitedMR. MUHAMMAD ALI (CEO)
Muhammad Ali Khan holds a Masters of Business Administration (Finance) degree from Durham University Business School United Kingdom and a Master of Business Administration (MIS) degree from Institute of Business Administration (IBA) Karachi, Pakistan. Additionally, he is also a Law Graduate of University of Karachi, Pakistan.
Muhammad Ali Khan has more than 10 years of experience in Capital Markets, Research & Policy Development and Corporate Banking. He has worked with World Bank and Asian Development Bank (ADB) on several policy and development related assignments mainly focusing on Capital Markets and Insurance industry reforms.
Prior to joining IFMP as a Chief Executive Officer, he was working with AL Habib Capital Markets Pvt. Ltd. mainly focusing equity research and business strategy.Ms. Mashmooma Zehra Majeed, CFA, FRM - Chief Executive
Ms. Majeed completed her Chartered Financial Analyst (CFA) program in 2001 from the CFA Institute and the Financial Risk Manager (FRM) Program in 2010. She has a vast
experience of 19 years in Investment and Capital Markets. She has been associated with the asset management industry in Pakistan for over 15 years with her forte being in
investment management and product development. She has played an instrumental role in launching the first Islamic open-end mutual fund in Pakistan as well as the launch of the
voluntary pension scheme in Pakistan under the Voluntary Pension System Rules. She has been actively involved with MUFAP throughout her career. She has previously worked
in senior positions in Atlas Asset Management Ltd., JS Investments Ltd (formerly ABAMCO Ltd.) and Crosby Asset Management Pakistan Ltd. She started her career with M/s
Hameed Majeed Associates (Pvt) Ltd.