ISE elects directors for 2012

ISLAMABAD: The general body of Islamabad Stock Exchange (ISE) on Saturday elected five directors for the year 2012 at its 4th extraordinary general meeting held here.

The elected directors include Zahid Latif Khan, Farrukh Younas Khan, Muhammad Sewhani, Mohammad Masud Chaudhry and Fateh Khan Malik.

All the directors have extensive experience of the capital market, said a news release.

The ISE Board comprises ten directors among which five are elected from the stock exchange members while the Securities and Exchange Commission of Pakistan (SECP) nominated four. The anaging Director is the 10th director by virtue of his office.

After the nomination of nominee directors by the SECP, the Board of Directors will be completed which will elect its chairman from among the nominee durectors as per Articles of Exchange.

The Board is the apex body of the exchange, which formulates policies for the better functioning of exchange. (APP)