KARACHI, Dec 12: The board of directors of the Mutual Fund Association of Pakistan (Mufap) has elected Najam Ali as the chairman and Mir Mohammad Ali as the vice-chairman for 2009.

A press release of Mufap said that Najam Ali, who had also chaired the board in 2007, is a chartered accountant by profession. He joined JS Investments and prior to that he was executive director at the SECP and the founding CEO of the Central Depository Company of Pakistan. In that capacity he was also the project leader of the National Clearing and Settlement System.

Mir Mohammad Ali has been a director of Mufap since September 2007. He holds a MBA degree from IBA and an M.Sc in finance from the University of Strathclyde in Scotland. He has been the CEO of UBL Fund Managers Limited since July, 2005.

The directors on Mufap board would now include Imran Azim, Nasim Beg, Ms Naz Khan, Nihal Cassim, Salman Haider Sheikh, Shahid Ghaffar, Syed Javed Hassan, Tariq Iqbal Khan, Tara Uzra Dawood and Yasir Qadri.

The board of directors of Mufap also paid rich tributes to the outgoing chairman Nasim Beg for the outstanding services rendered by him, the Mufap statement noted.