Dr. Shamshad Akhtar served twice as the Federal Finance Minister of Pakistan (2018 and 2023- 2024) holding multiple economic portfolios in the caretaker governments. She served as the Governor, State Bank of Pakistan.

At global level, Dr. Akhtar served as the Under-Secretary General of the Economic and Social Commission of the Asia and Pacific (UNESCAP) and prior to that as the United Nations (UN) Secretary General’s Senior Special Advisor on Economics and Finance/UN DESA and UN Secretary General’s G20 Sherpa for the Development track, while pursuing Finance and Central Bank tracks. During her term at UN, among others, she was closely involved in the development and implementation of the 2030 Sustainable Development Agenda (SDG), the Addis Ababa Financing frameworks and work on the Paris Climate Accord and ensured closer alignment of G20 development agenda with the 2030 SDG agenda.

Dr. Akhtar served as the Vice President, Middle East and North Africa at the World Bank, the Director General of Asian Development Bank (ADB) and served as the Special Sr. Advisor to the President of ADB.

She has done Ph.D. from University of Sussex and Completed Post Doctorate (Fulbright) from Havard University.

On 23rd March, 2024 she has been awarded the Nishan-e-Imtiaz (Highest Civil Award of Pakistan).

Dr. Akhtar is recipient of Asia’s Best Central Bank Governor from Emerging Markets and the Banker’s Trust. In 2008, The WALL STREET JOURNAL ASIA recognized her as one of Asia’s top ten professional women. She is recipient of Medals from the President of Kazakhstan and Turkmenistan. She has been awarded the HUM Women’s Leadership Global Award.

Dr. Akhtar is now serving as the Chairperson of few Boards in Pakistan: the Pakistan Stock Exchange Limited, the Board of Sui Sothern Gas Transmission and Distribution company, the Pakistan Institute of Corporate Governance, Advisor on Pakistan Environment Trust Fund, Director Board of Governors Karachi Grammar School and the National University for Medical Sciences and also independent director on Fauji Fertilizer Company Limited and BankIslami Pakistan Limited Earlier she served as the Chairperson of the Karandaaz and as an Independent Director at the Engro Fertilizer Company.

Since 2019, She has served as one of the 12 Global Advisors to the Ministry of Foreign Affairs on China on Belt and Road and Policy Sherpa at the Boao Forum for Asia, while is now the Council of Advisor for this. Dr. Akhtar is Member of the Advisory Council of the Sustainable Finance Centre at the SOAS at London University, Member of UN Global Women Leaders Group, served on G20 Task Force member of the Think Tank on Infrastructure during the Presidency of Japan, Saudi and Italian Government and as an Advisor of SG Food Security and Financing for Development Group.

She has conducted analytical work on Pakistan economy on different subjects as Chair of the Pakistan Reform Insurance Committee, Capital Markets reforms and the Special Economic Zones etc.

Farrukh H. Sabzwari has spent more than 25 years in the Investment banking business in senior management positions both locally and abroad. He has previously served as CEO and MD of KASB Securities (local partner of BoA Merrill Lynch); BMA Capital and Country Head for CLSA Emerging Markets in Pakistan. His time abroad includes stints at CLSA Emerging Markets in NY USA, where he was VP sub-continent sales and at Credit Suisse in Indonesia and Singapore – where he spent seven years looking at both APAC and Frontier Markets as Director Equities sales. He has also served as Chairman (Dec 18 – Aug 19) and Commissioner of SECP (Securities and Exchange Commission of Pakistan) from 2018 to 2021, a job he took up on his return to Pakistan.

Some key initiatives during his three year term at SECP included the introduction of a comprehensive KYC/AML reporting mechanism for regulated entities in line with FATF recommendations, the launch of ETFs in Pakistan, the revamp of REITs regulations that has helped unleash a renewed wave of interest in the sector, the setting up of Emlaak – a one-stop shop for Mutual Fund Investments in the country and the introduction of Stewardship guidelines for institutional investors to encourage improved capital allocation through effective implementation of the corporate governance framework.

Mr. Sabzwari was a proposed Director on the board of Hugobank – a Getz Group entity that he had been associated with from 2022 to 2024– one of the five Digital Banking consortiums that were awarded banking licences by the SBP in Jan 2023. He is currently serving as the Chairman of the Institute of Financial Markets of Pakistan since October 2024 and a co-opted member of the Capital Markets Advisory Council (CMAC) set up in November 2023. He has capital market certifications from various jurisdictions including Singapore, Indonesia and NY and is an alumni of the IBA in Karachi, where he graduated with an MBA in Dec 1992. To enhance his knowledge and understanding of the Fintech space, he undertook a three month Fintech course in Innovation and Transformation in Financial Services from the NUS in Singapore in June 2022.

Adnan Asad is the CEO of the Venus group of companies. Educated from Aitchison College he has a Bachelors and Masters from Florida USA . He is also the President of the Sind Squash Association.

Venus Group operates in 6 countries namely USA, Pakistan, Sri Lanka, Bangladesh, Afghanistan and UAE. The Group is involved in several fully integrated activities from Consolidation and Freight Forwarding in USA, clearing and Forwarding in Pakistan, Bonded Warehouse, Intercity Logistics Warehouses in 7 major Cities, and Direct Distribution to end users in the Food Service Sector.

Venus Group is also the exclusive logistic partners of McDonald’s Pakistan and manufactures desserts, creams, produces both dairy and non-dairy ice cream, tissue products, packaged ice cubes, paper cups, jams and chocolate coating. The Group has franchisees for Cold Stone and Texas Chicken.

The Group is also constructing a resort/convention centre on Shimla Hill Abbottabad. Future plans include having a gold Private jet service centre in Karachi. The company has a licensee for Eclipse Jets in the region.

Nihal is an MBA (Finance & MIS) from McGill University. He takes particular interest in facilitating the development of the capital market, governance of public companies and building shareholder value.

He is currently a Director on the Boards of Pakistan Stock Exchange Limited, International Steels Limited, Crescent Steel & Allied Products Limited, The Organic Meat Company Limited, National Clearing Company of Pakistan Limited, NIFT and Ubiquity Trading Limited. He has also served on the Boards of Pakistan Oilfields Limited (for 9 years) and Ferozsons Laboratories Limited (for 15 years). Nihal has served two terms as a director on the Board of the Mutual Funds Association of Pakistan (MUFAP).

Nihal’s focus has expanded to philanthropic activities as a donor and as a member/trustee of The Citizens Foundation, the Patient Aid Foundation and The Jinnah Foundation.

Mr. Fu Chaoqing (CFA) has been serving at Pak China Investment Company Limited (PCICL) since August 2021. He has 18 years of work experience in financial sector, including his employment at China Development Bank (CDB) since 2007. His last assignment at CDB was Divisional Head, Assets Quality Management Division, International Credit Management Department and as Deputy Division Chief of Assets Quality Management Division. Mr. Fu holds degree of Master of Management from Fudan University and Bachelor of Management from Hefei University of Technology.

Mr. Ahmed Chinoy, H.I. , S.I. is an elected Director on the Board of Pakistan Stock Exchange Limited (PSX). He is the Managing Partner of Arch 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 Governance.

Mr. 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. He has also served several times on the Managing Committee of Federation of Pakistan Chamber of Commerce & Industry and is also the 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.

Additionally, Mr. Chinoy is serving as Director of Creek Developers (Private) Limited, AKD REIT Management Company Limited, Sui Northern Gas Pipeline Limited, CDC Share Registrar Services Limited, I.T Minds Limited, Insijam (Private) Limited, NCEL Building Management Limited, and Sir Adamjee Institute. Moreover, he is the Chairman of Global Commodity Trading Platform (GCTP), Kutiyana Memon Hospital, & Pakistan Cloth Merchants Association, and Member M.C of the Federation of Pakistan Chambers of Commerce & Industry. Mr. Chinoy is also serving as a Managing Partner at Arch Sons, Arch Industries & Lotus Properties, and Partner at Golden Livestocks, Al-Karam Builders & Developers, & Al-Karam Lagoons, and Managing Trustee at COMMECS Educational trust. He is also an Executive Director of Virtuosoft (Private) Limited.

Mr. You Hang is serving as Non-Executive Director on the Board of Pakistan Stock Exchange Limited (PSX), being a nominee of China Financial Futures Exchange (CFFEX).

Mr. You, being one of the inaugurators of CFFEX, is currently serving as the Chief Representative of CFFEX in Pakistan. He also held the position of Deputy Managing Director of PSX from August 2017 to August 2018. He is a seasoned expert who has strategically fulfilled the responsibility of domestic and international financials, marketing and operational functions. He is specialized in Exchange operations, designing/management of financial derivatives as well as data marketing. He has solid experience in equity, fixed income, and FX derivatives and possess strong quantitative and analytical skills. He also has a diplomat experience with superior communication, organizational and interpersonal skills with fluency in English as well as in his mother tongue Mandarin.

Mr. You Hang has completed his Master of Public Policy concentrated in Finance on Dean’s Fellowship from The University of Chicago, USA and Bachelor of Engineering from East China University of Technology, Shanghai, from where he graduated with honors.

Mr. You Hang is currently associated with CFFEX for last 18 years and has served it in the capacity of Chief Representative in Pakistan, Managing Director, International Business Development Department/Executive officer/ Equity Index Derivatives Department/FX Derivatives Department and Executive Director- Market Data Department.

Directorships:

• Managing Director of Executive Office, China Financial Futures Exchange (CFFEX)
• Nominee Director of PSX, National Clearing Company of Pakistan Limited
• Nominee Director of PSX, Central Depository Company of Pakistan Limited

Dr. FU is Vice Chair of Global Business Committee and Managing Director of Market Development Department, Shanghai Stock Exchange. He is responsible for overseeing SSE’s international cooperation, global market promotion and overseas projects. Prior to joining Shanghai Stock Exchange, Dr. FU worked in Jun An Securities Co. and Orient Securities Co. He graduated from Fudan University in 1998, where he earned a Ph.D Degree in Finance. Dr. Fu published a lot of papers and articles in major Chinese finance journals. He has served as the Chairman of Working Committee of Asia Oceanic Stock Exchange Federation from 2014 to 2016. He was awarded as “Shanghai Financial Innovative Figure” in 2014, “Shanghai Financial Leading Talent” in 2017. Under his leadership, Global Business Development Department was honored as “Shanghai May 1st Labor Medal Collective Award” in 2017 and “National Worker Pioneer” in 2019.

Ms. Gu Junmei possesses over 20 years of experience in financial information technology, and she is an expert in trading system development, testing and quality control.

Ms. Junmei is currently serving as Deputy Director in the information technology department of Shenzhen Stock Exchange (SZSE). She has held position of Executive Manager in SZSE’s technology strategy and planning department, and in the said role, she oversaw the information technology system quality management, and managed information technology team of 170 people.

Ms. Junmei is also serving as Senior Management Member of SZSE’s Technology Management Committee which outlines SZSE’s information technology development strategy. Moreover, she is an Expert Member of China Securities Industry Standardization Technical Committee. Ms. Junmei received her Masters’ degree from Wuhan University in 2003.

Ruhail Muhammad’s career spans over 35 years in general management, business development, strategy, financial planning, and people development. He has held various C-suite positions in companies focusing on a diverse range of activities from Chemicals to Energy. He is currently CEO of Lucky Electric Power Company Limited, a 660 MW IPP subsidiary of Lucky Cement. Prior to this, he was CEO of Hub Power Holdings Ltd. a subsidiary of HUBCO, Pakistan’s largest IPP. He was responsible for managing the growing portfolio of HUBCO, evaluating onshore & offshore acquisitions, project financing, economic evaluation of all growth projects, and financial re-engineering to support the growth vision of the Company. Prior to HUBCO, he was the CEO of Engro Fertilizers from 2012-2018.

He has served on the Boards of Engro Corp, various Engro subsidiaries, K-Electric, NBP Funds, Pakistan Institute of Corporate Governance, British Overseas School, KP Energy Board (PEDO), and as Chairman of Pakistan Mercantile Exchange Limited. Currently, he is serving on the boards of Lucky Electric Power Company Limited and other Lucky Group entities, Network of Organizations Working For People With Disabilities in Pakistan (NOWPDP-NGO), EFU Life Assurance, Pakistan Stock Exchange and as Chairman of Dawood Lawrencepur Limited. He is a CFA Charter Holder and holds an MBA degree from the Institute of Business Administration, Pakistan. He has attended the Advanced Management Program at INSEAD as well as an Agri-Business certification from the Harvard Business School.

Mr. Nadeem Naqvi was the CEO of Habib University Foundation, Karachi from September 2022 to September 2024. Mr. Naqvi holds the degrees of MBA in Finance and B.Sc. with Honours in Banking and International Finance from the City University Business School in London, United Kingdom and completed his High School (GCE A Levels) from Dover College, Dover, England. He has passed CFA Level II Exams. He brings with him over 40 years of work experience in global financial services, operating in diverse environments of North America, Europe and the Middle East, besides that of Pakistan.

Mr. Naqvi was Managing Director of Pakistan Stock Exchange (PSX) from 2011 till 2017, when he took early retirement and resettled in Toronto, Canada. During his tenure at PSX he oversaw and guided massive transformation of the stock exchange and Pakistan’s Capital Market. Some of his key accomplishments included: implementation of demutualization of the stock exchange; integration of three stock exchanges of Karachi, Lahore and Islamabad and emergence of the Pakistan Stock Exchange as the single capital market in the country; launch of internet/wireless trading platform; advocating with MSCI and international portfolio investors for Pakistan inclusion into MSCI Emerging Market Index and successfully managing the process; playing a key role in divestment of 40% equity stake of PSX to institutional foreign investors. Under his tenure the revenue and profits of the Exchange grew from Rs.692 million and Rs.50 million respectively in 2011, to Rs.1,477 million and Rs.277 million in 2017.

During this period, he was also the Chairman of the National Clearing Company of Pakistan Limited (NCCPL) and guided the transformation of NCCPL into a full Central Counter Party (CCP) with its own risk management capability as well as introduction of electronic capital gains tax calculation and recovery for the Federal Board of Revenue of the Government.

Prior to joining PSX, Mr. Naqvi was the Chief Executive Officer of an asset management company. Earlier, he served as CEO of AKD Securities Ltd., a leading corporate stock brokerage firm in Pakistan which he helped transform from a proprietary business into a full-scale investment banking and brokerage firm. The Company gained recognition by the CFA Association of Pakistan as the best domestic brokerage firm for two consecutive years in 2006 and 2007 under his tenure. Mr. Naqvi also served as Chairman of the first technology venture capital fund of Pakistan (TMT Ventures) and oversaw the completion of several ventures by successful exits at I.R.R. ranging from 35-40%

Economic & market analysis and research have been the hallmark of Mr. Naqvi’s career. He led an independent investment research firm in USA/Canada, Investology Inc., which was ranked by ‘Business Week’ in 2004 as the third best out of 300 independent research firms in North America. Before that, he headed the Merrill Lynch Pakistan research team. He was also the Head of Research of the investment advisory company of Morgan Stanley Asset Management’s Pakistan Investment Fund for four years from 1996 – 2000. More recently, from 2017 – 2022, Mr. Naqvi was involved in financial and real estate advisory business in Canada.

Mr. Naqvi has participated in landmark investment banking transactions in Pakistan, including the privatizations of Kot Addu Power Plant, National Refinery and United Bank Limited. He was a member of the Capital Markets Committee, Economic Advisory Council of the President of Pakistan in late 1990’s and has served as Vice-Chairman, South Asian Federation of Exchanges (SAFE); Director, Institute of Financial Markets; and Director, JCR-VIS Credit Rating Agency, besides NCCPL and CDC.

Other Directorships:

• Nominee Director - Pakistan Mercantile Exchange Limited
• Nominee Director of PSX, Central Depository Company of Pakistan Limited
• Nominee Director of PSX, VIS Credit Rating Company Limited
• Nominee Director of PSX, National Clearing Company of Pakistan Limited
• CEO & Director, Capital Markets International Advisors Inc. (Financial Consultancy)