The Islamabad Stock Exchange (ISE) has elected Rafiud Deen Ahmad as new chairman of the exchange for 2008. According to an ISE announcement on Friday, the first meeting of the board of directors of the exchange unanimously elected Rafiud Deen Ahmad as new chairman of the exchange for the current year.
Ahmad is a lawyer by profession having degrees of MA and barrister-at-law. He is advocate Supreme Court of Pakistan and senior consultant in a law firm Orr, Dignam & Company. He has been on the boards of PTCL and PMTL. He has also served as member ICC Court of Arbitration from 1987-1990. Presently, he is director on the boards of KSB Pumps, Pakistan Poverty Alleviation Fund and Sigma Motors. He is also member of the Managing Committee of the Islamabad Club since 2000.
The board members and outgoing Chairman Shaharyar Ahmad congratulated Ahmad and presented him the shield and custodial key of the ISE. The board expected that the ISE would make further progress under the leadership of its new chairman. The broker community and business fraternity of Rawalpindi and Islamabad has warmly welcomed the selection of new chairman of the ISE.
It is important to mention that the ISE board of directors comprises of ten directors out of which five are member directors and four are SECP nominee directors while the managing director is the tenth director on the Board by virtue of his office. The Commission has appointed Aslam Khaliq, Chairman Pakistan Tobacco, Zohair A Khaliq, President and CEO Mobilink, Tariq Khamisani, President British Petroleum and Rafiud Deen Ahmad, senior consultant, Orr, Dignam & Company Advocates, as nominee directors of the ISE for 2008. The member directors include Sheikh Muhammad Shabbir, Rafaqat Ali Choudhary,Zahid Latif Khan, Riaz Ahmed and Syed Nooh Adnan.