The general body of Islamabad Stock Exchange (ISE) has elected five member-directors for the year 2012 through election at 24th Extraordinary General Meeting of ISE held on December 31, 2011. The elected directors include Zahid Latif Khan, Farrukh Younas Khan, Muhammad Sewhani, Mohammad Masud Chaudhry and Fateh Khan Malik. All these directors have extensive experience of capital market business.
According to an announcement of the ISE here on Saturday, the Board of the ISE comprises ten directors. Five are elected from among the stock exchange members while four directors are nominated by the Securities & Exchange Commission of Pakistan (SECP). The Managing Director is the tenth director on the Board by virtue of his office.
After the nomination of directors by the SECP, the Board of Directors will be completed, which shall elect its chairman from among the nominee directors of the ISE under relevant Articles of the Exchange. The Board is the apex body of the Exchange which formulates policies for the better functioning of the Exchange.
From amongst the newly elected directors, Zahid Latif Khan is one of the top brokers at the exchange, having ample experience of capital market reforms and his input in different rules and regulations of the Securities and Exchange Commission of Pakistan has facilitated in implementation of new rules to protect investors at the exchange.
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