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 The Pakistan Credit Rating Agency Limited

   
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Board of Directors

The Board of Directors of PACRA comprises seven professionals drawn from diverse fields. All Directors, except the Managing Director, are Non-Executive, while three of them are Independent. The day-to-day management of the Company is conducted by the Managing Director subject to the supervision and control of the Board of Directors. PACRA Board plays a pivotal role in ensuring good governance. The Members of the Board have complete freedom to express their opinion and decisions are taken on the basis of a consensus arrived at after detailed discussions. The Members are free to bring up any matter for discussion at the Board Meetings with the permission of the Chairman. The Board's role, functions, responsibility, and accountability are clearly defined. In addition to its primary role of setting corporate goals and monitoring corporate performance, it directs and guides the activities of the Management towards the set goals and seeks accountability with a view to ensure that the corporate philosophy to create long-term sustainable growth that translates itself into progress, prosperity and the fulfillment of stakeholders' aspirations, is accomplished. It sets standards of corporate behaviour, ensures ethical conduct at all times and strict compliance with laws and regulations. Brief profiles of members of the Board are as under:

1. Lt. Gen. (R) SIKANDER AFZAL HI(M) | DIRECTOR


2. MR. NAJAF YAWAR KHAN | DIRECTOR


3. MR. ADNAN AFAQ | MANAGING DIRECTOR & CEO

chairman

4. MAJOR GENERAL (R) ZAFAR ABBAS | DIRECTOR

chairman

5. MR. ASIF BAIG MIRZA | NOMINEE DIRECTOR LSE FINANCIAL SERVICES LIMITED

6. MR. MUMTAZ H. SYED | DIRECTOR

chairman

7. MR. JAHANZEB MIRZA | NOMINEE DIRECTOR LSE FINANCIAL SERVICES LIMITED

Masood Akbar
Code of Conduct for the BoD

PACRA observes the highest standard of integrity and fairness in all their dealings. The Directors are expected to articulate and demonstrate high standards of honesty and integrity. They are required to observe ethical and law abiding behaviour in the organization. The BoD is responsible for setting up the standards of conduct in accordance with the regulatory requirements and the best practices. The BoD is expected to understand the prevailing Code of Conduct (by SECP, ACRAA and Other regional good practices) and uphold these standards and ensure compliance. PACRA's BoD affirm compliance to SECP approved code for PACRA on an annual basis. The current Code of Conduct has been adopted by the BoD in their 67th Meeting held on 18th June, 2010. The Board takes care of:

  • Compliance with laws, rules & regulations
  • Ethical conduct
  • Confidentiality
  • Conflict of interest
  • SECP restriction on Directors of Credit Rating Companies
  • Insider trading
  • Gifts
  • Reporting of any illegal or unethical behavior
  • Protecting company assets
  • Waivers and Modifications

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Directorship History of PACRA