Humayun Bashir has been re-elected as the chairman of the National Clearing Company of Pakistan Limited (NCCPL) again by its Board of Directors.
Bashir has over 40 years of diversified experience with the International Business Machines Corporation (IBM) in Pakistan, Afghanistan, Iran, and the MENA headquarters. He also served as the Country Head at IBM Pakistan for more than 16 years.
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He holds a degree in Engineering and has done various business management and leadership courses from the IBA, IBM Academy NY, INSEAD France and Boston University, USA.
The NCCPL is an infrastructure institution of Pakistan’s Capital Market acting as a Central Counterparty and is the only licensed entity that provides clearing and settlement services for trades and transactions executed at the Securities Exchange.
In addition to clearing and settlement services, the NCCPL also computes, determines, collects, and deposits Capital Gain Tax (CGT) on the disposal of the listed Securities, the units of open-ended mutual funds, and the trading of future commodity contracts as per the CGT regime implemented by the Federal Board of Revenue (FBR).
In pursuance of the provisions stipulated under the Clearing Houses (Licensing and Operations) Regulations, 2016, the NCCPL appointed two independent directors to its board on 5 March 2021 after obtaining the approval of the Securities and Exchange Commission of Pakistan (SECP).
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The NCCPL’s board now comprises 11 directors including seven shareholder’s representatives, two independent directors, and a nominee from the FBR and the Chief Executive Officer.
The board members are:
- Humayun Bashir — Chairman
- Muhammad Lukman — Chief Executive Officer
- Aliya Yusuf — Independent director
- Farrukh Khan — Non-Executive Director
- Ahmed Chinoy — Non-Executive Director
- Muhammad Ashraf Bawany — Non-Executive Director
- Rashid Rahman Mir — Non-Executive Director
- Zahid Latif Khan — Non-Executive Director
- Mubashar Maqbool — Non-Executive Director
- Ch. Muhammad Tariq — FBR’s nominee
