Farrukh H. Sabzwari now becomes the new Securities and Exchange Commission of Pakistan or SECP chairman.
New SECP chairman Farrukh H Sabzwari is appointed by government on Thursday (yesterday). However, the position was vacant from 18 months. Federal Cabinet gave the approval of his appointment as the new SECP chairman. However, the meeting was chaired by PM Imran Khan. Farrukh H Sabzwari will take the charge after the issuance of notification by Ministry of Finance, Revenue and Economic Affairs.
Farrukh H Sabzwari is a MBA with over 25 years of experience in capital markets. Prior to joining SECP, he was the CEO of BMA Capital Management.
Farrukh H Sabzwari was delegated as Commissioner on Nov 15, alongside Amir Khan who was executive director at SECP. The other three commissioners at the SECP included Shauzab Ali, Shaukat Hussain and Tahir Mahmood.
Zafar Hijazi, the ex-chairman was suspended by the legislature in July 2017 after the Supreme Court requested FIA to take him under remand for his supposed role in ‘record altering’.