Karachi: Security Leasing Corporation Ltd. (SLCL) has announced a significant leadership transition as part of its strategic focus on legal affairs. On September 18, 2025, the company disclosed that its Chairman, Mr. Malik Zahid, has stepped down from his role to head the company’s litigation team, given his extensive experience in banking and dealings with the Securities and Exchange Commission of Pakistan (SECP). This decision was made upon the request of a board member and is effective immediately.
Mr. Zahid’s move to lead the litigation team is seen as a strategic shift for SLCL, aiming to strengthen its legal framework and address ongoing legal matters efficiently. Consequently, Mr. Mujtaba Abbasi has been appointed as the new Chairman of Security Leasing Corporation Ltd., as per the company’s compliance with Section 15D (1) of the Securities & Exchange Ordinance, 1969, and the relevant PSX regulations.
According to information available from the Pakistan Stock Exchange (PSX), this leadership change is expected to have a significant impact on the company’s governance and operational focus. The appointment of Mr. Abbasi marks a new chapter for SLCL as it navigates the complexities of its legal challenges.
The company has communicated this information to the exchange members, emphasizing the importance of the transition in aligning its leadership with the evolving demands of its legal strategies. The designated market category remains unaffected by this leadership change.