Board of Directors

	Omer Iqbal Pasha			Ch. Iftikhar Ahmad
	Chairman			Vice Chairman
	Mr. Omer Iqbal Pasha is the Chairman of the ISE since January 2002 and has been a member of the Exchange since 1992. Mr. Pasha has a distinction of being on the Board of ISE for three consecutive years from 1996 to 1998. He also held the portfolios of Honorary Treasurer (1997) and Vice Chairman (2001) of the Exchange.			Ch. Iftikhar Ahmad is the Vice Chairman of the Exchange since January 2002 and has been a member of the Exchange since 1998. He was Director of ISE Board for the year 2001.

	Mr. Aftab Ahmad Ch.			Mr.. Qaiser Nasim
	Managing Director			Director
	Mr. Aftab Ch. has been the Managing Director of Islamabad Stock Exchange since October 2002. Aftab Ch. has completed his advance studies from USA and has rich financial management and administrative experience.			Mr. Kaiser H. Naseem is a nominee of the SECP on the Board of ISE since 2001. Mr. Kaiser has been a former Managing Director of SBFC and the President of SME Bank. At present, he is the MD of M/s KHN Associates (Pvt) Limited, a financial & management consultant company.

	Mr. Muhammad Rashid Zahir			Mr. Najimul Haq Malik
	Director			Director
	Mr. Rashid Zahir is the SECP�s nominee on the Board of ISE since 2001. Currently, he is serving as the General Manager/Chief Executive Officer of Saudi Pak Industrial & Agricultural Investment Co (Pvt) Ltd.			Mr. Najam Ul Haq Malik has been on the Board of the Exchange consecutively for 2001 & 2002. He is a member of this Exchange since 1992.

	Mr. Usman Ul Haq			Mr. Ch Muhammad Sharif
	Director			Director
	Mr. Usman Ul Haq is on the Board of the Exchange since January 2002. He was elected as a member of the Exchange during 1999.			Ch. Mohammad Sharif is on the Board of the Exchange since January 2002. He is the Chief Executive of the M/s Progressive Investment Management (Pvt) Limited, a corporate member of ISE since 1997.

	Mr. Muhammad Akbar			Mr. Muhammad Nawaz Bhatti
	Director			Director
	Mr. Akbar is a nominee of the SECP on the Board of ISE since 2001. A career banker who initially served in the UBL and the BCCI banks. He is currently serving as the Director of First International Investment Bank Limited.			Mr. Mohammad Nawaz Bhatti is on the Board of Directors of the ISE since January 2002. He represents Excel Securities (Pvt) Limited, a member of this Exchange since 2000.

	Mr. Ejaz Hussain Rathore			Mr. Ahsan Imtiaz Bhatti
	Director			Director
	Mr. Ejaz Rathore is the SECP�s nominee on the Board of ISE since 2000. A Chartered Accountant by profession., he also serves on the Board of Oil & Gas Development Corporation.			Mr. Ahsan Imtiaz Bhatty is on the Board of Directors of the ISE since January 2002. He is the Chief Executive of Millennium Securities (Pvt) Limited, a member of the Exchange since 1998.

	Mr. Azam Faruque			Yousaf H. Makhdum
	Director			Secretary
	Mr. Azam Faruque is the SECP�s nominee on the Board of Directors of ISE since 2001. He is also a member of the Boards of several public companies such as Oil & Gas Development Corporation, State Bank of Pakistan etc.			Makhdum is an investment banker by profession who has been the Secretary of the Board of ISE since December 1995.