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shamshadakhtar becomes pakistanstockexchange s first female chairperson 1620202762 4476
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Dr. Shamshad Akhtar Becomes the First Female Chairperson of the Pakistan Stock Exchange

by Laiba
written by Laiba

In a statement issued by the bourse, the former State Bank of Pakistan (SBP) governor and ex-caretaker finance minister, Dr. Shamshad Akhtar, is elected as the first female chairperson of the Pakistan Stock Exchange (PSX).

This is for the first time in history that a chairperson of the PSX is a woman.

Akhtar was “unanimously elected” as an independent director on the board after a meeting was held recently after being appointed last month.

Before getting elected, Akhtar was previously working for 10 years at the World Bank before joining the Asian Development Bank in 1990. She held a top position where her duties included overseeing the bank’s operations in many countries.  She was also an ADB expert on Southeast Asian economies.

In the statement, she said it is a “proud moment” for her to “represent the Pakistan Stock Exchange as its chairperson and join the efforts of the SECP (Securities and Exchange Commission of Pakistan), the new board and management to take this institution to new heights.”

She added, “I look forward to our joint endeavors to further transform PSX as a premier institution so it can play a critical role in raising its market capitalization through deepening of debt and equity markets, broadening its investor and product base and service efficiently all its clients upholding high standards of governance.”

On this occasion, Pakistan Stock Exchange (PSX) CEO Farrukh Khan said: “We are particularly excited and proud to have someone of the caliber of Dr. Akhtar as the chairperson of PSX. Her understanding of capital markets and global experience will be invaluable in the development of capital markets and PSX. The fact that she is the first woman to chair PSX adds to our pride and excitement in welcoming her.”

Khan also welcomed the new and returning directors. He added, “we have an outstanding new board, and I am confident that the newly appointed board of directors will lead and direct the Exchange to even greater heights of success, prosperity, and progress for all stakeholders and Pakistan’s capital markets.”

Twitter Lauds Dr. Akhtar’s Latest Achievement

Currently, Pakistan Stock Exchange comprises 11 board of directors. These include seven shareholder directors, three independent directors, and the CEO.

The statement said that on April 19, seven shareholders’ directors were elected after an Extraordinary General Meeting (EGM). The terms for the previous board of directors had expired at this point. Later on the 29th of April, three independent directors were appointed.

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