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.

Mr. Hashmi is a seasoned capital market executive with over three decades of leadership experience across stock exchanges, investment banking, brokerage operations, operational risk, and banking services. He has played a pivotal role in modernizing market infrastructure, strengthening operational resilience, enhancing governance, and driving innovation within Pakistan’s capital markets.

Prior to joining Pakistan Stock Exchange (PSX) in 2018, Mr. Hashmi spent over 12 years with Emirates NBD Group, UAE, where he held several senior leadership positions, including Chief Operating Officer of Emirates NBD Securities. During his tenure, he led brokerage operations across multiple regional exchanges and partnered with the Group Operational Risk Control Unit to strengthen governance and operational risk frameworks across Treasury & Capital Markets, Brokerage, Asset Management, and the Bank’s international operations in London, Singapore, and Saudi Arabia. Earlier in his career, he held leadership roles at Emirates Islamic Bank, IGI Investment Bank, and the then Lahore Stock Exchange.

At PSX, Mr. Hashmi has led several landmark initiatives that have strengthened Pakistan’s capital market infrastructure. He played an instrumental role in the successful implementation of the New Trading System (NTS), led the operationalization of Exchange Traded Funds (ETFs), led the implementation of the new brokerage regime, and spearheaded the launch of Government of Pakistan Sukuk at PSX in close coordination with the State Bank of Pakistan, the Ministry of Finance, and the Securities and Exchange Commission of Pakistan. These initiatives have enhanced market efficiency, expanded investment opportunities, and supported the continued development and diversification of Pakistan’s capital markets.

Mr. Hashmi holds an MBA in Finance from Karachi University, an MS in Management from the Institute of Business Administration (IBA), Karachi, and is an Associate of the Chartered Institute for Securities & Investment (CISI), UK. He has also completed Executive Education in Managerial Leadership from Harvard Business School Executive Education. He is a Certified Director, serves as PSX’s nominee director on the Board of the Institute of Financial Markets of Pakistan (IFMP), and represents PSX on various strategic committees and forums of the SECP, SBP, and the Ministry of Finance.

Mr. Ajeet Kumar is a seasoned capital market professional with 17 years of experience and has been a core member of Regulatory Affairs Division (RAD) since demutualization of the stock exchange. Mr. Ajeet is the head of RAD and acts as Secretary to the Regulatory Affairs Committee of the PSX Board of Directors, Member of Oversight Committee constituted by SECP under the Joint Inspection Regulations, 2015 and member of Risk Committee of NCCPL. Prior to joining PSX, he was associated with SECP for over 4 years in Securities Market Division.

He possesses deep expertise in local capital markets and global securities regulations, developed through extensive research and international conferences. He is considered a dedicated, analytical and target-oriented professional with a proven ability to lead large teams and manage diverse responsibilities with fairness and transparency. His areas of expertise include advisory, policy making, research, compliance and enforcement. During his tenure as the Chief Regulatory Officer, Mr. Kumar has transformed into a risk-based supervision and enforcement regime, fostering a strong compliance culture that enhances investor confidence and trust.

He has played a pivotal role in deriving key strategic and regulatory initiatives at PSX to foster the development of Pakistan’s capital market. The key digital, operational, and governance milestones include the deployment of an advanced surveillance framework integrated with the New Trading System (NTS), enablement of digital customer onboarding solutions to simplify investor access and promote financial inclusion, transitioning to e-filing reporting systems, facilitating core processes for integration and self-listing, broadening corporate disclosure & reporting standards, strengthening investor protection measures, framing regulations for Market Makers, Index Options, ETF, SLB, GEM Listing, Index/ Market Halts, effective risk management regime etc. Mr. Ajeet was actively involved in establishment of first-ever on-site joint inspection regime for brokers, introduction of first-ever Rulebook of PSX and its re-introduction pursuant to promulgation of Securities Act, 2015 and Futures Market Act, 2016 and implementation of clients’ assets segregation reporting framework as a landmark breakthrough.

Mr. Kumar holds BBA (Hons.) and an MBA in Finance from IBA Karachi and has cleared Level II of CFA program. Additionally, he holds professional certifications from the Institute of Financial Markets of Pakistan (IFMP) and has completed Directors’ Training Program certified by the Pakistan Institute of Corporate Governance (PICG).

Mr. Mazhar Iqbal serves as Chief Financial Officer of the Pakistan Stock Exchange (PSX), bringing over 21 years of leadership experience across finance, strategy, corporate governance, risk management and human capital.

At PSX, he leads the Exchange’s financial strategy and performance, with responsibility for financial planning and reporting, capital allocation, treasury and taxation, risk management, internal controls and finance transformation. His focus includes strengthening the Exchange’s financial resilience and revenue base, while ensuring strategic investment in technology, market infrastructure, business growth and new products that support the development of Pakistan’s capital markets. He works closely with the Board and senior management on financial stewardship, governance, strategic decision-making and long-term value creation.

Prior to joining PSX, Mr. Mazhar was a member of the Country Leadership Team at Pakistan Oxygen Limited (formerly Linde Pakistan Limited), where he held a broad executive mandate covering Strategy, Finance, Human Resources and the Corporate Compliance. He led financial strategy and business performance, enterprise risk management, digital finance transformation and ERP implementation, corporate governance and Board advisory, while also aligning people strategy with business priorities.

His experience across finance and human capital brings a distinctive perspective to value creation, connecting financial performance with organisational capability, leadership, succession and culture.

Mr. Mazhar is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), a Fellow of the Association of Chartered Certified Accountants (ACCA), and a Fellow Chartered Management Accountant (FCMA). He also holds the SHRM Senior Certified Professional (SHRM-SCP) designation and is a Certified Director of the Pakistan Institute of Corporate Governance.

Mr. Syed Adeel Javaid has over 27 years of corporate experience and is well versed with the local and international technology and capital market dynamics. He has extensive experience of managing business critical systems & services involving multifunctional teams and large-scale project portfolios through strategic technology planning and change management with special focus on digital transformation. He contributed and was key member of the teams at PSX and Bahrain Bourse who successfully upgraded and migrated Exchanges’ Trading Engines.

His last appointment was with Kounteq Limited (UK & PK) for 3 years as Chief Technology Officer. Prior to that he has served Bahrain Stock Exchange (Bahrain Bourse) for 15 years where he was serving as IT Director. Earlier, he remained associated with Wavetec Pakistan and APS Control Systems (The Netherlands) for 5 years in middle management roles.

Mr. Javaid is also serving as nominee director of PSX on the Board of EClear Services Limited and as External Expert on the Information Technology and Digital Committee of National Clearing Company of Pakistan Limited. He holds a Bachelor’s degree in Electrical Engineering from NED University, Karachi and had also attained PRINCE2 Practitioner accreditation.

With over 20 years of strategic HR leadership experience across banking, financial services, logistics, insurance, consulting, and diversified corporate sectors, Nida Haider brings a powerful blend of business acumen, transformation expertise, and people leadership to her role as Head of Human Resources.

Throughout her career, Nida has built a reputation as a trusted strategic partner to C-suite leadership, driving people agendas that directly support business growth, organizational transformation, and cultural evolution. Her expertise spans HR strategy, organizational effectiveness, talent management, leadership development, succession planning, employee engagement, governance, and large-scale change management.

Prior to joining PSX, Nida served in senior HR leadership roles across some of the most respected local and international institutions. Her experience includes leadership positions at Packages Group / IGI Holdings, where she aligned people strategy with corporate objectives and strengthened governance frameworks; National Bank of Pakistan, where she led organizational effectiveness and capability transformation initiatives; and TCS Express & Logistics, where she successfully scaled workforce capability while optimizing HR costs and driving productivity improvements.

Her international experience includes serving as Regional HR Business Partner for Africa at Barclays Bank UAE, where she supported leadership development and succession strategies across 10 countries, as well as earlier HR leadership roles at Barclays Pakistan, ABN AMRO Bank, Bank Alfalah, and Allianz EFU Health Insurance.

Over the course of her career, Nida has consistently delivered measurable impact, including leading large-scale talent acquisition drives, building leadership development frameworks, enhancing employee engagement, modernizing performance management systems, optimizing organizational structures, and driving cultural transformation across complex business environments.

Known for combining strategic vision with execution excellence, Nida is passionate about building future-ready organizations, strengthening leadership capability, and creating high-performance cultures where people and business success grow together.

She holds an MBA in Human Resources and brings a progressive, commercially grounded approach to modern human capital leadership.

Mr. Aamir Mushtaq Kanju is a seasoned finance professional with over a decade of experience in the capital markets and investment management industry. His diverse expertise spans capital market research, investment analysis, product development, and strategic business initiatives.​

​Currently, Mr. Aamir serves as the Deputy General Manager at the Pakistan Stock Exchange (PSX), where he heads Strategy, Product & Data Science department. In this role, he manages a team of various professionals and has led numerous cross-functional projects. Notably, his contributions towards Exchange have been pivotal in introducing significant market innovations in Pakistan, including the launch of exchange-traded funds (ETFs), the development of the Government Debt Primary Market Auction System, and the enhancement of PSX’s Market Data business.

Mr. Aamir played a crucial role in the successful transition to the new trading system acquired from the Shenzhen Stock Exchange, overseeing product requirement gathering, mapping best practices, assisting in user testing, and the migration process. Additionally, he has contributed towards Islamic Finance and Sustainability related initiatives.​

Prior to his tenure at PSX, Mr. Aamir worked for AL Meezan Investment Management Limited for four years, focusing on new product development, investment research, identifying business opportunities, strategic planning, valuations, and investment analysis.​

​Mr. Aamir holds the CFA Charter and is a Chartered Accountant from the Institute of Chartered Accountants in England and Wales. He is also an experienced member of ACCA and possesses a strong foundation in data-driven problem-solving and leadership.

Mr. Aamir is a PSX nominee for various industry committees, including the SECP’s committee on “Promoting Islamic Finance in the Non-Bank Financial Sector” and ICAP’s technical committee on “Sustainability.”​

Mr. Abbas has an overall experience of more than 20 years in the financial sector out of which he has been associated with Pakistan Stock Exchange Limited (PSX) for the last 15 years and during his tenure he has served PSX in various capacities, managing teams involved on the Operational as well as Regulatory fronts.​

During his time with PSX he has supervised market operations, listed companies compliance, securities broker compliance, and complaint & default handling. Mr. Abbas has extensively been involved in many critical projects/assignments on the operational and regulatory sides that have helped in evolution of capital market of Pakistan. These projects include launch of Pakistan Unified Corporate Actions Reporting System which is a fully online announcement system for material and corporate disclosures by the listed companies, Bonds Automated Trading System platform and automated compliance monitoring system for listed companies.

Prior to taking this role, Mr. Abbas was serving as the Head of Audit, Inspection, Default and Arbitration Section of Regulatory Affairs, where he was involved in inspections, compliance monitoring and adjudication for securities brokers. In addition, he was also supervising matters pertaining to complaints and default handling including Mediations and Arbitrations. During his tenure with the Department, he was involved in various regulatory reforms and automation projects aimed at ease of reporting, ease of doing business, introduction of RegTech and automation of complaint handling for securities brokers.

Mr. Abbas started his career with PricewaterhouseCoopers Consulting (PwC) currently Abacus Consulting, wherein, he was involved with the Corporate Finance Transactions Department, which was responsible for the privatization projects of state owned entities like K-Electric, SSGC and Jamshoro Power Company. Furthermore, he has also worked in Pak Kuwait Investment Company, a leading Development Financial Institution of the country in the Risk Management Department, wherein, he was involved with development of various financial risk models for the company.

Mr. Abbas is MBA in Finance from Institute of Business Management (IoBM).

Junaid is a seasoned corporate governance, legal and regulatory professional with over sixteen years of experience across capital markets, listed companies, financial institutions, and professional services.

At Pakistan Stock Exchange (PSX), he oversees the corporate governance, company secretarial, and corporate affairs functions and works closely with the Board and Management on governance, regulatory, and strategic corporate matters. He possesses extensive expertise in corporate and securities laws and has contributed to regulatory reform initiatives relating to capital market governance. He has been involved in significant capital market initiatives, including PSX’s self-listing following the integration of the three stock exchanges, acquisition by the Chinese consortium, and corporate constitutional reforms, and has provided technical legal advisory support across the Exchange’s regulatory and business functions.

Prior to his current role, Junaid held various positions in corporate, legal affairs and finance at OLP Financial Services Limited (formerly ORIX Leasing) and Lucky Core Industries Limited (formerly ICI Pakistan). During his tenure at OLP, he played a significant role in the merger of Standard Chartered Leasing with OLP, as well as other corporate finance and strategic transactions. Earlier in his career, he served with Grant Thornton Anjum Rahman, Chartered Accountants, in business assurance and advisory roles.

Junaid holds multiple professional qualifications, including Associate Membership of the Institute of Corporate Secretaries of Pakistan (ACIS), Certified Business Accountant from the Institute of Chartered Accountants of Pakistan (CBA), CFMA, Banking Certification from the Institute of Bankers Pakistan, and Associate Chartered Banker, UK (ACB). He is also a Certified Director from the Pakistan Institute of Corporate Governance. He has an L.L.B, a Master’s and undergraduate degrees in Economics and Commerce.

At PSX, he also serves as a member of the Arbitration Panel, and acts as Secretary to various committees of the Board.

Mr. Nisar Ahmed Qazi, the indomitable Head of the Admin Department at the Pakistan Stock Exchange, stands as a pillar of strength, resilience, and wisdom. His extraordinary ability to manage complex scenarios and his oversight of the Exchange’s physical security underscores the invaluable contribution he makes to ensuring the safe, efficient operation of PSX, the critical financial institution.

With a career marked by numerous challenging episodes, Mr. Qazi has consistently demonstrated an exceptional aptitude for navigating difficulties with composure and pragmatism. Whether coordinating emergency responses, mitigating potential threats, or resolving administrative crises, his strategic oversight and quick thinking have been instrumental in maintaining the integrity and continuity of PSX and the capital market’s operations.

Mr. Qazi’s experience managing the physical security of the PSX premises is unparalleled. He has implemented rigorous security protocols and surveillance systems, safeguarding every aspect of the Exchange against potential risks. His proactive approach to security encompasses regular drills, stringent access controls, and continuous training for security personnel, providing peace of mind to brokers, employees, and other stakeholders.

As an advocate for welfare of all stakeholders of the capital market, Mr. Qazi extends unwavering support to the brokerage community, facilitating their operations and addressing their concerns with diligence and empathy. His commitment to creating a secure and conducive environment allows brokers and other stakeholders to operate efficiently, fostering a culture of trust and mutual respect within the Exchange.

As a key member of the Procurement Committee, Mr. Qazi has distinguished himself through his cost-efficient approach and superior negotiation skills. His deep understanding of the procurement landscape enables him to secure high-quality goods and services at competitive prices, optimising the Exchange’s operational budget without compromising quality. This competence not only conserves resources but also enriches the overall operational framework of the PSX.

One of Mr. Qazi’s most remarkable attributes is his profound understanding of the organization, coupled with knowledge of its history because of his more than 3 decades of association with PSX. His tenure at PSX has imbued him with a historical memory that serves as a vital asset in strategic decision-making and institutional continuity. This historical perspective allows Mr. Qazi to foresee potential challenges and leverage past experiences to craft contemporary solutions.

Under his stewardship, the Admin Department not only meets but often exceeds expectations, setting a benchmark for administrative efficacy and institutional integrity.

Mr. Farhan Ansari is a Fellow member of the Institute of Chartered Accountants of Pakistan. He is also a Certified Internal Auditor from the Institute of Internal Auditors (IIA) - USA.

With approximately 25 years of extensive experience in Audit and Accounts, Mr. Farhan Ansari is a seasoned audit and finance professional. He completed his CA training with EY Ford Rhodes Chartered Accountants and began his career at Dadex Eternit Limited.

Since joining the Exchange in 2006, Mr. Ansari has played a pivotal role in strengthening the internal audit function. His leadership capabilities were clearly demonstrated during his tenure as Head of the Internal Audit Department.

Furthermore, Mr. Ansari has also served as Acting Chief Financial Officer of PSX for 11 months.