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The incumbent MD of Lahore Stock Exchange, Mr. Aftab Ahmad Ch, has been reappointed as the CEO of the exchange for another three years term.
With this reappointment, MD LSE becomes the first ever professional to get the record 5th term as the Chief Executive of a stock exchange in the country. It may be mentioned that since after the creation of the office of the MDs as the business and the regulatory heads of the exchanges under the ADB's mandated Capital Market Development Program of 1998-2000, Aftab is already the first person to be re-appointed for the second term as the MD of two separate stock exchanges of the country. Earlier, Aftab served as MD of Islamabad Stock Exchange for three terms and now he becomes the first MD of LSE also to be reappointed for the next term.
As an industry leader, Aftab is known both as a turn around specialist and an effective frontline regulator. He has been instrumental in optimizing the balance sheet of ISE due to which the Exchange emerged as the second most valuable exchange upon demutualization. At LSE also, he is actively pursuing the financial and business re-orientation of the Exchange with many new initiatives such as the IPO business development and the expected establishment of a spot commodity exchange and collateral management company etc.
As a frontline regulator, Aftab is known to treat the brokers conduct harshly and has expelled 12 brokers from LSE over violation of various kinds of securities laws including some brokers who had threatened him of dire consequences. Besides this, Aftab has also placed many brokers under the monthly external audit reviews due to adverse investigative audit report findings-a practice initiated only at LSE.
Besides being the MD of LSE, Aftab also heads the industry association of the region-South Asian Federation of Exchanges (SAFE) comprising of the 18 stock and commodity exchanges from South Asia and beyond. He has been overseeing this regional industry association for the last eight years during which time, he has represented SAFE at all leading exchange forums including the World Federation of Exchanges.
