The federal cabinet, on Friday, approved the appointment of financial sector professional Aamir Khan as the chairman of the Securities and Exchange Commission of Pakistan (SECP).
Aamir has been working as Commissioner Specialized Companies Division at SECP. The federal government has appointed Aamir Khan as chairman SECP for a period of three years with immediate effect.
The federal cabinet also approved the removal of the Chairman SECP Farrukh Sabazwari from his post. However, Sabzwari would remain as a commissioner in the SECP. He was appointed as chairman SECP in December 2018.
The other three Commissioners in the SECP are Tahir Mahmood, Shaukat Hussain, and Shauzab Ali.
Aamir Khan has 30 years of experience in banking, capital markets, structuring of financial solutions/products, leading national initiatives, business transformation, and regulatory reform. Since 2012, he has been serving as an executive director at the SECP.
During his 6 year tenure at SECP, he has headed key operational departments i.e. Specialized Companies Department, Securities Market Surveillance Department, Commodities Market Department, and International Relations, in addition to chairman secretariat and media department.
He has led key initiatives at SECP such as launching Commodity Murabaha at PMEX, Agri related initiatives, bringing microfinance companies into SECP’a regulatory ambit, finalizing numerous laws and improving ease of doing business.
He has also served on senior positions at Standard Chartered Bank, Royal Bank of Canada, and American Express Bank Ltd. He is knowledgeable about the entire spectrum of the banking industry, including treasury, operations, and credit risk management.
SECP Policy Board
The cabinet has also approved the removal of SECP policy board Chairman Khalid Mirza who has been replaced with Masood Ali Naqvi.
Masood Ali Naqvi has been working as Chairman Tax Reform Commission (TRC) and is currently at the board of Central Depository Company (CDC).
He has served as an Advisor to the Board of KPMG Taseer Hadi & Co. until 31 December 2017 and was a former Senior Partner of KPMG Taseer Hadi & Co., for 28 years. He is currently serving as a member of the Tax Reforms Implementation Committee of FBR and the Academic Council of the Commerce Institute of Business & Emerging Sciences.
Earlier, he has also served as the President of the Institute of Chartered Accountants of Pakistan (ICAP) for the years 1994-1996 and has been a member of its Council, Committee on Corporate Governance, and Sub-Committee for revision of Code of Corporate Governance 2002.