ISLAMABAD, Dec 23: The Securities and Exchange Commission of Pakistan (SECP) is in the process of hiring a team of professionals for its regional office in Karachi. It has appointed two professionals for the office.

According to SECP, among the various policy initiatives taken by the regulatory authority recently, one is to strengthen its Karachi office, primarily to regulate the locally based capital market institutions and insurance sector.

For such purpose, SECP is in process of developing a dedicated team of professionals, having relevant industry experience.

In the initial process of such induction, SECP has appointed Zafar Abdullah as executive director Securities Market Division (SMD), who is joining the Commission shortly.

Abdullah is a fellow member of the Institute of Chartered Accountants of Pakistan (ICAP); having diversified industry experience of more than 13 years, including three years each as head of Operations of Central Depository Company of Pakistan Limited & DGM Operations of Karachi Stock Exchange.

Similarly, Imran Iqbal Panjwani, an associate member of ICAP, has recently joined the Karachi regional office as director SMD.

Before this, he was serving an Islamic bank as head of its Risk Management Department.

He had also served Karachi Stock Exchange, for seven years, in various capacities, including as its Chief Internal Auditor and Chief Financial Officer. —APP