Former State Bank of Pakistan (SBP) governor and ex-caretaker finance minister Dr Shamshad Akhtar was appointed as the chairperson of Pakistan Stock Exchange Limited Board of Directors.
“Please be informed that Dr Shamshad Akhtar, an Independent Director, has been appointed as the Chairperson of the Board of Directors of Pakistan Stock Exchange Limited for the Board’s term of three years that commenced on April 19,2024,” read a PSX statement on Tuesday.
The process of election, nomination and appointment of directors of PSX is specified under the Companies Act, 2017, the Securities Exchanges (Licensing and Operations) Regulations, 2016 (the Regulations) and the Articles of Association of PSX. The Regulations mandates the number of independent directors to be not less than one-third of the total directors of the Board. The Board has been constituted following compliance of all regulations applicable to listed companies. PSX being a self-listed securities exchange and frontline regulator of listed companies, has complied with all laws, rules and regulations to which it is subject. Dr Shamshad was appointed caretaker finance minister last year in August, and served till the general elections in February.
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