The board of directors has appointed Mr. Hussain Lawai as the Chairman of the Board of PSX. According t0 a recent filing with the stock exchange, the appointment was made at a meeting held on 15th May 2018.
Earlier the Securities and Exchange Commission of Pakistan (SECP), just last week, selected seven new independent directors of the Pakistan Stock Exchange (PSX).
Mr. Husain Lawai is a seasoned banker having 40 years experience in the banking industry. He is the Chief Executive of the Institute of Bankers Pakistan and also the Vice Chairman of Summit Bank Limited. Additionally, he is on the Board of Directors of Pakistan Institute of Corporate Governance, GlaxoSmithkline Pakistan Limited, Wyeth Pakistan Limited and the Searle Company Limited.
Apart from his current corporate sector engagements, Mr. Lawai has served as Chairman, Board of Directors of Central Depository Company of Pakistan Limited until January 18, 2018.. In addition, he served on the Board of Directors of Pakistan International Airlines Corporation, State Life Insurance Corporation of Pakistan and Sanofi- Aventis Pakistan Limited.
On the banking side, he was the first President and CEO of MCB Bank Limited, after its privatization in 1991 and served for six years. He was President and CEO of Summit Bank Limited from 2008 till his retirement in 2016.
He has serverd as a country general manager Faysal Islamic Bank and Union Bank of Middle East. He has to his credit the establishment of Faysal Islamic Bank the first Sharia-compliant bank in the country Published by HT Syndication with permission from Right Vision News. He was the General Manager, Emirates NBD Bank for Pakistan and Far East (now known as Emirates Bank Limited).
He is a Member of Civil Hospital, Board of Implementation & Coordination and Pak American Institute of Management Sciences – Lahore. Mr. Lawai holds a Masters Degree in Business Administration from Institute of Business Administration, Karachi.
He also serves on the Board of Governors of Karachi Grammar School and Virtual University of Pakistan.