Home CORPORATE INFO Board of Directors

Mr. Shahid Ghaffar

Mr. Shahid Ghaffar has assumed the charge as Managing Director, National Investment Trust Limited (NITL) with effect from May 23 2014. He possesses vast experience of working at top positions in the financial sector. Prior to joining NIT, he was working as Head of Investor Relations and Corporate Representation as well as member of Management Forum at Habib Bank Limited (HBL). Prior to that he had also served as Chief Executive Officer of HBL Asset Management Limited for over six years (2005-2012) and was instrumental in the establishment and growth of the Company.

Mr. Ghaffar has held key positions in the areas of asset management, capital market regulation and governance. At Securities And Exchange Commission of Pakistan (SECP) he served as Executive Director/Commissioner from 2000 to 2005 and played a vital role towards implementation of wide ranging reforms in the Capital Market and capacity building of Securities Market Division in Securities And Exchange Commission of Pakistan (SECP). While working as Managing Director/CEO Karachi Stock Exchange during his two years’ tenure (1998-2000) he introduced effective risk management measures and was also instrumental in the automation of trading, enhancing capacity building and professionalism at the Stock Exchange.

During the period 1977-1998, Mr. Shahid Ghaffar had served National Investment Trust Limited (NITL) (one of the biggest open- ended funds in the country) in different capacities in the Asset Management Division and at various stages was responsible for managing equity market portfolio, debt/fixed income portfolio and trading desk. He was also involved in the appraisal and monitoring of projects. In 1996,Mr.Ghaffarwas entrusted responsibility of Asset Management Division. He actively participated in the reconstruction of NIT during the crisis period i.e. 1996-1998.

Mr. Ghaffar holds Master Degree in Business Administration from Gomal University D.I.Khan, Khyber Pakhtunkhwa, Pakistan. He has attended several courses on Securities Regulations and Securities Markets Development and portfolio management including the prestigious course conducted by Securities and Exchange Commission, in Washington, DC. (United States).

Mr. Iqbal Adamjee

Mr. Iqbal Adamjee is representing Adamjee Foundation on the Board of NIT. Mr. Adamjee has acquired graduation degree from Stanford University, USA. He has been associated with various business concerns of the Adamjee Family which includes Adamjee Insurance, Adamjee Jute Mills and Automative Batteries. Mr. Adamjee is at present Director Mainetti (Pvt) Limited and serving as Trustee of Adamjee Foundation & Trustee of Child Life Foundation. From the aforementioned platforms he has immensely contributed towards betterment of education and health sectors.

Mr. Jamal Nasim

Mr. Jamal Nasim, Managing Director, Industrial Development Bank of Pakistan, has more than 33 years of professional experience with NDFC and IDBP, which includes Commercial Banking, Project Management, Operations, Treasury , Risk Management, Internal Audit and Compliance etc. He also has a substantial experience of serving on the Boards of Directors of different companies in Textile, Sugar and Food sectors. He has also held the position of Executive Director, Equity Participation Fund. He holds a Masters degree, in Business Administration, from Asian Institute of Management, Manila – Philippines.

Mr. Muhtashim Ahmad Ashai

Mr. Muhtashim Ashai has fifteen years of professional experience in banking sector. At present he holds the position of Senior Executive Vice President and Group Head of Wholesale Banking Group at MCB Limited. He graduated with a BS degree from UET and completed his MBA from LUMS, followed by the International Management Program at MC Gill University in Montreal. For the last ten years, he has been working with ABN AMRO Bank in various roles in Pakistan, Singapore, Japan and China.


Syed Ahmed Iqbal Ashraf

Syed Ahmed Iqbal Ashraf has rich experience of over 34 years in domestic and international banking. Mr. Ashraf is a Fellow of Association of Chartered Certified Accountants (FACCA) from UK; from where he not only acquired his education but also started his career. His work experience spans three continents and he worked in the UK, USA and UAE for 19 years before he decided to return to Pakistan.
Prior to becoming the President of NBP, he was MD/CEO of PAIR Investment Company Limited. Mr. Ashraf has also enjoyed commanding positions in NBP; he was in-charge of International Operations and managed and revamped Corporate & Investment Banking Group. He played a pivotal role in the establishment of a network of branches in the UK and USA. Another high point in his career is the establishment of Investment Banking Group from scratch for Habib Bank Limited. He successfully established the largest DFI, a JV with China’s largest Policy Bank in Pakistan. During his tenure as the Deputy Managing Director & COO–Pak China Investment Company Ltd. he successfully appraised multiple projects. He restructured, reformed and repositioned The Bank of Khyber as the Managing Director/CEO. He has also served as Country Head Investment Banking & Head of Financial Institutions for Societe Generale (SG) –The French International Bank from 1996 to 2002. Amongst his achievements at SG was the appointment as the Financial Advisor to Privatization Commission of Pakistan for the successful privatization of United Bank Limited. During his tenor with SG, he also successfully arranged numerous syndicated facilities as the Sole Arranger. He also helped the SG consortium to be appointed as Financial Advisor for privatization of PESCO, by the Privatization Commission.

Mian Nusrat-ud-Din

MianNusrat-ud-Din is representing Tajammal Foundation on the Board of NITL. He is the Chairman, Chenab Group, which is involved in integrated manufacturing and export of Textile goods as well as in Agricultural products. MianNusrat-ud- Din is a graduate in Chemical Engineering and also holds a Master’s degree in Chemical Technology. He has over 40 years management experience of Textile Spinning Mill and Chemical Plants. Also, he has vast experience as a member executive committee of Lahore Chamber of Commerce & Industry and various Trusts.

Mr. Yameen Kerai

Yameen has over 32 years’ experience in public accounting and finance related roles in the insurance and banking industry. After graduating from London School of Economics, he qualified as a Chartered Accountant with Robson Rhodes, London. After pursuing public accounting in Jeddah with Touche Ross, one of the global big eight firms, he joined a leading Canadian insurer, Canada Life, in Toronto, where he performed internal audit, finance and tax roles. He then joined ABN AMRO, a large multinational Dutch bank as CFO of their Pakistan operations in Karachi, while also looking after IT, admin and real estate matters. He was then given a regional role in ABN AMRO, Singapore as CFO, Asia Pacific, overseeing finance functions of 13 countries. In June 2005 he joined NIB Bank as CFO.

Mr. Muhammad Hanif Akhai

Mr. Hanif Akhai brings with him 36 years of enriching experience in the field of banking and finance with core emphasis on Treasury & Balance Sheet Management. He has worked with Societe Generale Bank in Pakistan in a regional role overlooking the treasury functions in Sri Lanka and Bangladesh along with Pakistan. He has also served in the capacity of a Regulator at State Bank of Pakistan where he was instrumental in managing the financial market along with introducing reforms for market stability and development.

He has held the position of Global Treasurer at Habib Bank and Chief Executive at Akhai Capital Management prior to joining United Bank Limited as Global Treasurer.

Syed Arshad Ali

Syed Arshad Ali is a seasoned Civil Servant and retired as Federal Secretary (BS-22) and is currently working as Member, Federal Service Tribunal at Karachi. He held various responsible positions in the Federal and Provincial Government which include serving as Federal Secretary – Wafaqi Mohtasib (Ombudsman), Chairman – National Commission for Government Reforms, Executive Director – State Life Insurance Corporation, Director General – Export Promotion Bureau etc. He holds a Master’s Degree in Science with specialization in Physics from University of Karachi. He attended various senior management courses within country and abroad. He also had a privilege to attend Executive Leadership Development Course from John F. Kennedy School of Government Harvard University, USA. Mr. Arshad Ali is also a Certified Director of Pakistan Institute of Corporate Government (PICG) and has served on the Boards of prestigious Financial Institutions.

Mr. Arshad Ahmad

To be updated soon.

Mr. Khalid Mohsin Shaikh

To be updated soon.