ISLAMABAD (special crosspondent) – The Board of Directors of the Institute of Financial Markets of Pakistan (IFMP) has officially approved the relocation of its head office to the capital, Islamabad. The institution will, however, maintain a regional presence in Karachi as part of a comprehensive restructuring strategy designed to amplify its influence in financial market education, professional training, and national capacity building. This development aligns with broader efforts in governance model improvements across the financial sector.

New Leadership and Board Appointments

In a unanimous decision during the recent board meeting, Dr. Kabir Ahmed Sidhu, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), was elected as the Chairperson of the IFMP Board. The board also welcomed Muhammad Ali Farid Khawaja, Commissioner of the SECP’s Securities Market Division, who joins as the commission’s nominee member. Attendees included IFMP Chief Executive Officer Dr. Mubbashar Sadiq, Pakistan Stock Exchange (PSX) Chief Operating Officer Jawad Hashmi, Central Depository Company CFO Shariq Jaffrani, Karachi School of Business and Leadership Dean Dr. Ahmed Junaid, IFMP Company Secretary Shahrukh Usmani, and Manager Finance Ahmad Javed.

Expanding Financial Literacy and Inclusion

Addressing the assembly, Dr. Kabir Ahmed Sidhu highlighted that with approximately 64 to 67 percent of Pakistan’s population under the age of 30, there exists a massive opportunity to bolster financial inclusion, retail investment, and entrepreneurship. He underscored that the SECP has established an ambitious target to grow the country’s capital market investor base from roughly 500,000 to 2.5 million. He emphasized that enhancing financial literacy and professional skills remains the primary catalyst for achieving this growth.

Under the new strategic direction, the IFMP is set to spearhead a nationwide financial literacy initiative targeting schools, universities, and professional communities. The institute aims to equip the younger generation and industry professionals with essential knowledge to engage with the formal financial sector, thereby strengthening market confidence and cultivating a highly qualified human resource pool for both capital market and insurance industries.

National Outreach and Future Initiatives

SECP Commissioner Muhammad Ali Farid Khawaja noted that the Pakistan Stock Exchange must broaden its geographical footprint, pointing to a surge in new investors originating from Punjab and other emerging regions. He confirmed that the IFMP will expand its mandate significantly by launching free online financial literacy courses, continuous professional development (CPD) programmes, and specialized certification pathways for intermediaries in capital markets and insurance. These measures are intended to build a robust, skilled workforce for the nation’s financial services sector.

In closing, the board extended its gratitude to outgoing SECP nominee directors Osman Syed and Dr. Yasir Mahmood, while also formally acknowledging the leadership provided by Shoaib Javed Hussain throughout his tenure as the IFMP Board Chairperson.