Karachi Stock Exchange (KSE) Managing Director Adnan Afridi has been elected Vice Chairman of the Executive Committee of South Asian Federation of Exchanges (Safe).
The annual general assembly meeting of the Safe, held in Dhaka, Bangladesh, Afridi's election to the office was proposed by Safe Chairman and Managing Director/Chief Executive Officer of Bombay Stock Exchange Rajnikant Patel.
According to a press release issued here on Thursday, Afridi was unanimously elected by the votes of nine other regional exchanges of various members, comprising the regional depositories and clearing companies, whose representatives were present during the general assembly meeting.
The following are other members of executive committee: Ahmed Rashid (Dhaka Stock Exchange), Rewat Bahadur Karki (CEO, Nepal Stock Exchange), Chitra Ramakrishna (Deput y Managing Director, National Stock Exchange of India) and Mrs Sureka (CEO Colombo Stock Exchange).
The Safe is the representative forum, comprising of 13 regional exchanges and five depository/clearing institutions from the member countries of the South Asian Association for Regional Cooperation (Saarc).
The Safe was by bourses in South Asia to promote development of securities markets in the region. It comprises 18 member entities from the eight South Asian countries, including Pakistan, Bangladesh, Bhutan, India, Maldives, Mauritius, Nepal and Sri Lanka. The member entities include stock markets, securities and depositories and clearing companies. The permanent secretariat of the Safe is situated in Islamabad.-PR