ISLAMABAD, Jan 25: Rafiud Deen Ahmad has become the third non-member chairman of the Islamabad Stock Exchange (ISE).

The ISE board of directors in its first meeting here on Friday unanimously elected Mr Ahmad as chairman of the exchange for 2008.

He is an advocate of the Supreme Court and a senior consultant in a law firm Orr, Dignam & Company. He has been on the boards of Pakistan Telecommunication Company Ltd and Pakistan Telecommunication Mobile Ltd. He has also served as member ICC Court of Arbitration from 1987 to 1990.

Presently, he is director on the boards of KSB Pumps, Pakistan Poverty Alleviation Fund and Sigma Motors. He has been a member of the Managing Committee of the Islamabad Club since 2000. Mr. Rafiud Deen Ahmad holds degrees of MA and Barrister-at-Law.

The board members and outgoing chairman Shaharyar Ahmad congratulated Mr Ahmad and presented him the shield and custodial key of the ISE. The board hoped that the ISE will make further progress under the auspices of its new chairman.

The ISE board consists of 10 directors, out of which five are member directors and four SECP-nominee directors, while the managing director is the tenth director by virtue of his office.

The Securities & Exchange Commission of Pakistan has appointed Aslam Khaliq, Chairman, Pakistan Tobacco; Zohair A. Khaliq, President and CEO, Mobilink; Tariq Khamisani, President, British Petroleum; and Rafiud Deen Ahmad as nominee directors of the ISE for 2008.

The member directors include Shaikh Muhammad Shabbir, Rafaqat Ali Chaudhry, Zahid Latif Khan, Riaz Ahmed and Syed Nooh Adnan.