The Board of Directors of Islamabad Stock Exchange has unanimously elected Moin M Fudda, nominee Director of the Securities and Exchange Commission of Pakistan, as its new Chairman. The change occurred after the resignation of erstwhile chairman Muhammad Rashid Zahir who owing to his other commitments stepped down from the position.
Moin M Fudda is the Country Director of Centre for International Private Enterprise, engaged in Private Sector Development and Market Oriented Reforms in Pakistan since 2005. He has led CIPE Pakistan Office by focusing on projects involving, chambers and associations development, economic journalism, corporate governance, creation of Women chambers, youth entrepreneurship, outreach and availability of micro finance in association with Pakistan Microfinance Network and the State Bank of Pakistan, drafting of regulations for Private Equity and Venture Capital and Micro Insurance and creation of Securities Market Institute of Pakistan.
He is the Honorary Consul General of New Zealand in Pakistan. In 2002, he was conferred the Civil Award "New Zealand Order of Merit," for services to New Zealand's interest in Pakistan. He holds MBA in Risk Management and Insurance from St Jones University, New York. Prior to joining CIPE, Fudda has been the Managing Director of the Karachi Stock Exchange. During that period, he also served simultaneously as Chairman, National Clearing & Settlement Company, Director, Central Depository Company and National Commodity Exchange. He was also Chairman of the Technical Committee on Corporate Governance of Federation of European and Asian Stock Exchanges (FEAS).
He has also served as a Member Boards of Privatisation Commission and Investment, Pakistan Britain Business Advisory Group, Pakistan Institute of Management, Federation of Pakistan Chamber of Commerce. He has authored papers on Corporate Governance, Insurance and Re-insurance, Risk Management and Capital Market and has also delivered papers at domestic and international events. In recognition of his services, in 2006, he was conferred the Civil Award "Sitara-e-Imtiaz" by the President of Pakistan.
The directors as well as the brokers of the Islamabad Stock Exchange have hailed his election as Chairman of the Board and have expressed hope that with his rich experience and guidance Islamabad Stock Exchange will make progress in achieving its objectives.
The Board also recorded appreciations for the services performed by Muhammad Rashid Zahir, the outgoing Chairman who made high value contributions in running the affairs of the Board of the Exchange in a transparent and efficient manner.-PR