June 07, 2016
In collaboration with the Higher Education Commission (HEC) and the World Bank Group, the Securities and Exchange Commission of Pakistan (SECP) conducted two full-day Faculty Development Program (FDP) at Marriott hotel Karachi on 31st May 2016 and at Serena hotel Islamabad on 6th June 2016. The events hosted almost 200 management science academics from various universities in Karachi, Islamabad, Rawalpindi and Peshawar. Under the MOU signed between the HEC and SECP, these programs were the first in a series of such programs planned for faculty members of universities across Pakistan. Mr. Sulaiman Ahmed, Regional Director Sindh, HEC, and Mr. Muhammad Raza Chohan, Director General Academics,HEC initiated the events in Karachi and Islamabad respectively along with Ms. Khalida Habib, HOD of SECP’s Investor Education and International Relations. The HEC and SECP senior representatives stressed the importance of mutual collaboration between the non-banking financial sector regulator and academia for creating investor education and financial awareness at the tertiary education level across Pakistan with the help of participating academics. They also expressed their unwavering commitment to furthering this cause by conducting such regular events to educate the youth. The finance-savvy youth will ensure that Pakistan reaps the benefit of financial markets growth by mobilizing a nationwide cultural change that focuses on savings and investments. In his message Mr. Zafar Hijazi, the SECP chairman, thanked the attending faculty for their enthusiasm and dedication to developing the youth of Pakistan. He also stressed on the critical role of the faculty of all educational institutions to transfer to their students practical insights gained through interactions with leading industry specialists and generating a continuous dialogue between academia, market participants and the regulating body to produce far-reaching and tangible results. Chairman Hijazi further stressed on the need for research, collaboration and continued dialogue to further safeguard investors by developing financial products, policies and law by leveraging the invaluable input of academia. It was announced that soon the SECP would conduct a well-structured train the trainer program for a select group of faculty members in various cities of Pakistan, who will be entrusted with the responsibility of spreading investor education on a regular basis. Mr. Nadeem Naqvi, MD, Pakistan Stock Exchange (PSX); Mr. Ashraf Bava Consultant, World Bank Group and President CFA Society of Pakistan, Mr. Amin Dawood Saleh, Deputy General Manager, Treasury and Financial Institutions Bank Alfalah; Dr. Amjad Waheed, CEO, NBP Fullerton Asset Management Limited (NAFA), Mr. Muhammad Ejaz, CEO, Arif Habib Dolmen REIT, Mr. Tariq Mohar, Deputy CEO Tameer Microfinance Bank; Ms. Ayesha Aziz, Managing Director, Pak Brunei Investment Company, Mr. Teizoon Kisat, former CEO Orix Leasing Pakistan Limited, Mr. Nauman Lakhani, head of marketing, Business Development and Customer Support Services, Pakistan Mercantile Exchange (PMEX); Mr. Bilal Rasul, head of Islamic Finance Department, SECP and Mr. Abid Hussain, head of Professional Development Department, SECP, and Mr. Ali Saeed, CEO, SAAO Capitalm were the guest speakers at the event in Karachi. In Islamabad Mr. Syed Mohsin Ahmed, Chief Executive, Pakistan Microfinance Network; Mr. Imtiaz A. Chaudhry, Assistant General Manager – ORIX Leasing Pakistan Limited and Mr. Zeeshan Khalil, Senior Fixed Income Dealer, Bank Alfalah replaced their Karachi counterpart speakers. The speakers conducted interactive sessions on equity and capital market, debt and bond market, commodity market, mutual funds and voluntary pension system, REITS, microfinance, investment banking, SECP’s enforcement regime and investor grievance handling and Islamic finance. The financial landscape was discussed supported with the help of latest statistics. Each speaker presented a SWOT analysis of her/his segment, made suggestions for the growth of respective segment and there was a lively dialogue between attending market participants, SECP representatives and the academics. Almost 100 management science academics from reputable institutions of Karachi such as IBA, SZABIST, Jinnah University of Women, PAF-KIET, Newports, Greenwich University, IOBM, KSBL, KASBIT, IQRA, Nazeer Hussain University, Dadabhoy, Indus University Karachi, Sindh Madrasatul Islam University, Sindh Institute of Management and Technology, Institute of Business and Technology, DHA Suffa University, Commecs Institute of Business and Emerging Sciences, and Preston University benefited from the session. In Islamabad almost another 100 management science academics from reputable institutions such as AIOU, Bahria University, CUST, Foundation University, FUUAST, COMSATS, IM Sciences Peshawar, CUSIT Peshawar, Islamia College University Peshawar, UOL, FAST NU, NUML, NUST, PIDE, Air University, Quid e Azam University, Preston University, Hamdard University, Abasyn University, CECOS, FJWU, ARID Agriculture University and NDU attended the seminar. The participants found the sessions highly valuable, saying that such sessions should be held on a regular basis at their educational institutions. In addition, many university representatives expressed the desire to sign investor education MOU with the SECP, which was warmly welcomed.