The Managing Director and CEO of Pakistan Kuwait Investment Company (Private) Limited Shamsul Hasan has resigned, it is reliably learnt. Hasan joined Pak-Kuwait in November 2008. Under his leadership, in March 2011, JCR-VIS upgraded the Corporate Governance Rating of Pak-Kuwait to CGR 9 (on a scale of CGR 1 to CGR 10) for improving transparency, accountability and fair play-the three cornerstone of good governance.
In June 2011, Pakistan Credit Rating Agency (PACRA) upgraded the long-term entity rating of Pak-Kuwait to Triple A and maintained short term rating A one plus. JCR-VIS reaffirmed the same rating making Pak-Kuwait the first financial institution to secure the highest level of rating from the two credit rating agencies.