Karachi, May 8, 2023: A gong ceremony was held at Pakistan Stock Exchange (PSX) to celebrate twenty years of commitment by CFA Society Pakistan (CFASP) to elevate and promote excellence in the investment profession. Mr. Nick Pollard, Managing Director, Asia Pacific, CFA Institute, and Ms. Reseena Abdullah, Director, Partnerships & Client Solutions Asia Pacific, CFA Institute, had joined the event from CFA Institute. Senior representatives of CFA Society of Pakistan including Mr. Mohammad Shoaib, Director, CFASP, and Ms. Sarwat Ahson, Executive Director, CFASP, participated in the event. The Chairperson PSX, Dr Shamshad Akhtar, welcomed the distinguished guests. Also present at the gong ceremony were industry leaders and leading market participants from different banks, brokerage houses and businesses. The CFA Institute and its local representative body, CFA Society of Pakistan, have been actively engaged in advancing highest standards of professional conduct, code of ethics, and professional excellence in the investment and finance professions.
Welcoming the distinguished guests, the Chairperson PSX, Dr. Shamshad Akhtar, stated, “The CFA Institute and CFA Society Pakistan are important partners for PSX. Together, we promote best practices in corporate governance, such as transparent reporting, ethical standards, board diversity, and risk management etc. while serving the interests of stakeholders (investors, companies and market participants).”
She added, “Collaboration between CFA, capital market institutions and regulators is growing. Our common interest is to help corporates transform their businesses to implement the sustainable development goals and three pillars of ESG. PSX-PICG Task Force, including industry practitioners, launched ESG advocacy few years back, emphasizing its value proposition, developing across PSX clients, the understanding of technicalities and challenges of its architecture, and multi-benefits in terms of financial and non-financial returns.”
She further stated, “Taking the lead in enhancing its governance capacities, PSX has strengthened its governance and regulatory structure and is committed to driving sustainability and ESG initiatives, as well as enhancement of its market capitalization and trading and surveillance infrastructure.”
In his keynote address, Mr. Nick Pollard, Managing Director, Asia Pacific, CFA Institute, said, “At CFA Institute we are committed to advancing ethics and market integrity in the financial industry through ESG investing and analysis. As I look at Pakistan, I see a country that has set ambitious sustainability targets and is taking concrete steps towards achieving them. The Pakistan Stock Exchange and financial industry must promote sustainable investing and ensure reliable disclosures and governance mechanisms with support from CFA Society Pakistan and stakeholders, as sustainable investing requires collective effort, investor education, and transparent disclosures. We are excited to continue delivering success with Pakistan Stock Exchange, CFA Society Pakistan, stakeholders, and the industry.”
Mr. Mohammad Shoaib, CFA, Director, CFA Society Pakistan, added, “It gives me immense pleasure to celebrate with everyone two decades of CFA Society Pakistan. The Society has moved from strength to strength thanks to the commitment of our volunteers and staff who all worked together to make the Society a strong agent for change in capital markets of the country – promoting the highest standard of ethics and professional excellence!
Over the years, the Society has worked closely with regulators, employers, universities, various associations and all stakeholders in general, and has provided invaluable contributions in terms of exposure to Global Standards and best practices by promoting standards such as Global Investment Performance Standards (GIPs®), Code of Ethics and Standards, and the Asset Manager Code ™ developed by CFA Institute.
I am thankful to the Pakistan Stock Exchange (PSX) for closely working in the areas of mutual interest such ESG, Ethics and Governance, Best Practices, and we hope to achieve much more in the years to come.
