Board of Directors 2005-2006

Mr. Rashid Akhtar Chughtai has the distinction of being first ever non-member Chairman of the Board of the ISE. An economist by training, he has an illustrious career in the banking industry spanning well over 3 decades. Joined State Bank of Pakistan in 1967 in Officer Cadre, he rose to the enviable position of Deputy Governor through sheer hard work and dedication. He is currently serving as President of Zarai Taraqiati Bank Limited, a leading bank of the country. He has represented Pakistan in a number of international seminars, workshops including WTO in the area of financial services.

Mr. Aftab Ahmad Ch. is the Managing Director/Chief Executive Officer of the Islamabad Stock Exchange since 2002. He is a graduate of Nicholls State University, LA, USA with an MBA degree. Mr. Aftab is also a member on the Boards of National Clearing Company of Pakistan Limited and National Commodity Exchange Limited. Mr. Aftab Ahmad Ch. is also the Acting Secretary General of SAFE besides representing ISE in Consumer Credit Information Bureau.

Syed Javed Hussain Bokhari was elected on the Board of the Exchange since June 2006. He is well experienced in the field of stocks. He is also the nominee director and CEO of Pride Stocks Services (Pvt) Limited, Corporate Member Islamabad Stock Exchange. Also engaged with Saudi Arabian Airlines and Flying Tigers (US airline) as Manager Flight Operations at Riyadh International Airport for 13 years.

Dr. Iftikhar Ahmad was elected on the Board of the ISE for the term 2005-06. Previously, he also served the Board during 2003. Mr. Ahmad is the CEO of M/s. Black Stone Equities Limited, a corporate member of the Exchange since 2002.

Mr. Muhammad Rashid Zahir is SECP�s nominee on the Board of ISE. Earlier he has also been on the Board of ISE from 2001 to 2003. Currently, he is serving as the General Manager/Chief Executive of Saudi Pak Industrial & Agricultural Investment Co. (Pvt.) Limited. Mr. Zahir is a high profile development/Investment banker by profession. Starting his career from ICP in 1968 as Financial Analyst, he served State Life Insurance Corporation of Pakistan and Bankers Equity in senior positions. Mr. Zahir is also the Chairman of the Board of Saudi Pak Commercial Bank Limited, Saudi Pak Leasing Co. Limited, both are affiliated companies of Saudi Pak Industrial & Agricultural Investment Co. (Pvt.) Limited.

Mr. Mohammad Sharif Ch. was elected on the Board of the ISE for the term 2005-06. He also served the Exchange as Director during 2002 and as Chairman during 2003. He is the Chief Executive of the M/s. Progressive Investment Management (Pvt.) Ltd. a corporate member of ISE since 1997.

Mr. Muhammad Safdar Kazi was elected in June 2006 in Board of the Exchange and he is Managing Director of Fair Edge Securities (Pvt) Ltd, Corporate Member of ISE. He is running Stocks Brokerage House since 1994.

Mr. Ahsan Imtiaz Bhatty is the chief executive of Millennium Securities (Pvt) Limited, corporate member Islamabad Stock Exchange since 2000. He is a graduate from State University of New York.

Mrs. Rahat Kaunain Hassan is the SECP�s nominee on the Board of ISE. A lawyer by profession, she is the founder partner of Hassan Kaunain Nafees, a firm of legal practitioners and advisors in which capacity she has been advising and assisting ISE in a number of legal matter/law suits. Prior to this, she was partner of Amhurst Brown, Solicitors & Advocates, Islamabad [2004] and Executive Director, Securities Market Division of Securities & Exchange Commission of Pakistan, Islamabad [2003].

Mr. Shaharyar Ahmad is the SECP�s nominee on the Board of the ISE since 2004. Having vast exposure of capital and money market operations as part of his banking career both at national and international levels, he is presently serving as SEVP and Group Head Corporate Banking and financial institutions in Askari Commercial Bank Ltd.