SECP approves renewal of service contract of ISE MD

Securities & Exchange Commission of Pakistan (SECP) has approved renewal of service contract of Mian Ayyaz Afzal, Managing Director, Islamabad Stock Exchange Limited (ISE). The ISE Board of Directors in its recent meeting had approved the renewal of the contract of the MD ISE expiring on October 30, in recognition of his meritorious performance subject to concurrence of the SECP which has been accorded by the SECP.
Mian Ayyaz Afzal has been Managing Director/Chief Executive Officer of the ISE since 2011. Under his dynamic and sterling leadership, ISE has made notable progress. He has also been very instrumental in the demutualisation of ISE. Mian Ayyaz Afzal also serves as Director on the Boards of Central Depository Company of Pakistan Limited, National Clearing Company of Pakistan Limited, Pakistan Institute of Corporate Governance and JCR-VIS Credit Rating Company Limited. His contributions towards improving operational efficiency, governance standard and effectiveness of these institutions have been acknowledged. He has also served as Director of Pakistan Mercantile Exchange Limited. He has participated in many national and international courses on securities markets including institutes organised by US Securities & Exchange Commission and OIC forums as well. Mian Ayyaz Afzal holds a Master degree in Economics from North-eastern University, Boston, US. He is also a certified director from Institute of Cost and Management Accountants of Pakistan.-PR