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

Muhtashim Ashai has been working in the Corporate and Investment Banking arena for more than 23 years. 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. At present he holds the position of Senior Executive Vice President and Group Head Corporate Finance and International Banking at MCB Limited. He has worked in the area of Corporate Relationship Management, Corporate Finance, Equity Placements, Treasury Management and Loan Portfolio Management. He started his career in a local investment bank and then joined a foreign commercial bank before moving to MCB Bank Limited in January 2008. He has worked 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. Arshad Ahmad

Mr. Arshad Ahmed has a Master’s degree in Political Science, Punjab University, Lahore. He has done Postgraduate Diploma in National Security form National Defense University Islamabad (1989- 90). He has attended a wide range of Trainings in Banking and Financial Management both at national and international levels and participated in various workshop/seminars abroad relating to Financial Management. Dispute resolution and strengthened poverty alleviation. In 2008 he also lead Pakistani delegation for First Group meeting of ECO Countries on Corruption & Money Laundering held in Ankara, Turkey (13-14 May, 2008).

He joined Civil Service of Pakistan in 1989 and served at various levels in the Federal Government. Major assignments included Vice President/Senior Vice President Regional Development Finance Corporation, Deputy Secretary Banking, External Finance & Policy. He also worked as Joint Secretary (Expenditure), in the Finance Division and as Senior Joint Secretary/Financial Advisor to more than 20 ministries/Divisions. On promotion to the post of Secretary (BPS-22) to the Federal Government he has joined as Director General, NCRD on March11,2017. Prior to joining Civil Service, he has been teaching Political Science in a public sector educational institution. He has also served as member Board of Directors of National Fertilizer Corporation, Pakistan Sports Board, Pakistan Industrial and Technical Assistance Centre, National Productivity Organization, Industrial Development Bank Limited.

Mr. Muhammad Siddique Memon

Muhammad Siddique Memon – CEO and nominee of Pakistan Reinsurance Company Limited, is a BS-22 grade officer of Pakistan Administrative Group started his career in Civil Services of Pakistan on 16.10.1984. During his varied Administrative, Staff and Corporate Sector experience, spanning over 32 years, he served as Chief Secretary Sindh, Chairman Pakistan National Shipping Corporation & Additional Chief Secretary. He also served as Secretary of the Planning & Development, Education, Fisheries, Local Government and Sports Departments etcetera, and as District Coordination Officer, Cane Commissioner, Managing Director, Sindh Small Industries Corporation, Secretary Sindh Public Service Commission, Chairman Sindh Text Book Board and Director Administration National Accountability Bureau Karachi, earning experience in fields of Social Development, Planning, Finance, Human Resource Management and Corporate Affairs.

In addition, he has completed training/courses from National School of Public Policy, Lahore and Columbia University USA. During the course of career he had working interaction with International Financial Institution like world Bank, Asian Development Bank, Islamic Development Bank and donor agencies like USAID, European Union, DFID, Bill & Malinda Gates Foundation & JAICA.

He has also served as founding Director on the Board of Sindh Bank, besides being Director on the Board of ENGRO Power Company, Director, Karachi Infrastructure development company, Director Export Processing Zone. He also served on the Syndicates of various Public Sector Universities.

Mr. Khalid Mohsin Shaikh

To be updated soon.

Mr. Mansoor Masood Khan

To be updated soon.