Karachi: Muhammad Hanif Jakhura, Chief Executive Officer, Central Depository Company of Pakistan Limited (CDC) passed away in Masjid-ul-Haraam, Makkah, Saudi Arabia on January 09, 2017.
Muhammad Hanif Jakhura joined CDC in 1994 and was serving as the CEO since March 2002. He was also serving as the Chairman of Executive Committee of Asia-Pacific Central Securities Depository Group since 2014 representing the Asia Pacific region on the World Forum of Depositories. Since 2015, he also was serving as the convener of a committee (formed by Chairman SECP) that has been given the mandate to help establish "Capital Market Hubs" in second tier cities of Pakistan to attract savings for investments in the capital market. He was actively involved in philanthropy related causes involving health and education sectors.
Jakhura was the strongest advocate of investor protection and awareness in the Pakistani Capital Market. Under his leadership, CDC transformed from a rudimentary depository into an internationally recognized infrastructure institution of the Capital Market.