Karachi: 786 Investments Limited has received the green light from the Securities and Exchange Commission of Pakistan (SECP) for the appointment of its new board of directors. This approval comes in response to previous applications submitted by the company on August 12 and October 23, 2024. The SECP's letter, dated January 30, 2025, officially confirms the appointment of the directors.

The newly appointed board members are Tara Uzra Dawood as Chief Executive Officer, Syed Musharaf Ali, Naveed Ahmed, and Iqbal Shafiq as Directors. Additionally, Ahmed Salman Munir, Ahmer Zia Sarwar, and Nadeem Akhtar have been appointed as Independent Directors. All directors will serve until the term of election.

According to information available from the Pakistan Stock Exchange (PSX), the appointment of these directors is expected to strengthen the governance structure of 786 Investments Limited. The company operates within the designated market category of non-banking finance companies, which is regulated under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003.

The SECP has emphasized the need for the newly appointed directors to be diligent in their oversight responsibilities, particularly in formulating and implementing Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) policies. They have been advised to familiarize themselves with the relevant provisions of applicable laws, including the Companies Act, 2017, the Securities Act, 2015, and the SECP's AML/CFT Regulations, 2020.

The approval is seen as a significant step for 786 Investments Limited in enhancing its corporate governance and aligning with regulatory requirements. The company is expected to circulate this information among its members and stakeholders to maintain transparency and compliance with exchange protocols.