Capital market welcomes Hijazi as SECP commissioner

KARACHI:

The capital market has welcomed appointment of Zafarulhaq Hijazi as commissioner Securities and Exchange Commission of Pakistan (SECP).

Members of Karachi, Lahore and Islamabad stock exchanges and major brokerage houses have expressed hope that Hijazi and other senior and seasoned professionals will bring transparency in the matters of the capital market regulator.

A senior member of Karachi Stock Exchange and chief of AKD Group Aqeel Karim Dhedi said that the role of SECP as a market regulator had become controversial in the past.

However, with the appointment of Hijazi, the market is expecting improvement in the operations of SECP. Hijazi is considered a noncontroversial person among the market people, Dhedi said.

Another senior member of Karachi Stock Exchange Haji Ghani Usman said that in the last few years the reputation of SECP was severely tarnished due to biased policies. However, Usman said, the appointment of Hijazi as commissioner has bolstered confidence in the market regulator.

Published in The Express Tribune, December 19^th, 2014.