KARACHI: Members of Karachi Stock Exchange (KSE) on Wednesday elected five member-directors on board. Accordingly, Arif Habib, Muhammad Sohail, Zafar Moti, Ashraf Bawa, and Qasim Lakhani were the top five vote gainers and declared elected member-directors on board for the next one-year term.

Mr. Zubyr Soomro was elected as Chairman of Karachi Stock Exchange (KSE) for the term commenced from January 01, 2010. The unanimous decision was taken at the first meeting of re-constituted Board of KSE, which was held today. Mr. Zubyr Soomro is a career banker having worked for 36 years with Citibank across multiple boundaries, roles and assignments. Mr. Soomro also served as Chairman & President of United Bank Limited from 1997-2000. He has aproven track record in turning around public-sector organizations. Due to this attribute, among many, he simultaneously has extensive experience in working and dealing with regulators and governments and he is often approached by top financial managers representing the government for his expert advice. Recently, Mr. Soomro has established a financial services consultancy firm by the name of ‘Hikmah Consulting’ where he is engaged as a ‘Consultant’. Earlier, one re-elected and four newly elected member directors of KSE took charge for the ...

The annual election of directors of Karachi Stock Exchange was held on Tuesday, December 15, 2009, to elect five directors for the next term commencing from January 01, 2010. 12 candidates contested the election for which a total of 172 members of the Exchange casted their votes, whereas, 3 ballot papers were declared invalid. Accordingly, the five candidates who were declared as successful are Mr. Abid Ali Habib, Mr. Muhammad Yasin Lakhani, Mr. Dawood Jan Mohammad, Mr. Mohammad Munir Mohammad Ahmed Khannani and Mr. Abdul Majeed Adam. As per the Articles of Association of the Exchange, four non-member directors would now be nominated by the Securities and Exchange Commission of Pakistan for the next term amongst from whom the next Chairman shall be elected by the Board. The Managing Director, Mr. Adnan Afridi, by virtue of his office, is the tenth director on the KSE Board. The KSE management appreciates the contribution made by the outgoing directors during the year 2009 and welcomes ...