The management of Karachi Stock Exchange (KSE) has proposed two more names for the post of its Managing Director on the directive of the Securities and Exchange Commission of Pakistan (SECP), sources said here on Tuesday.
The sources confirmed that the KSE had sent the names of Shamsul Hasan, former head of corporate, investment banking and treasury, Union Bank, and Fakhir Rehman, Chief Executive Officer (CEO) of Premier Insurance Limited for the post of KSE Managing Director.
Earlier, the governing board of the KSE proposed the name of Adnan Afridi, CEO of Overseas Chamber for top KSE post and recommended his name to the SECP for approval. However, the SECP, responding to the KSE recommendation, directed the KSE management to send two more names for the post as per requirement. The regulator said that the KSE should have to propose at least three names for the post, which was necessary as per rules. The SECP will select and appoint one of the proposed names for the post.