Board of Directors
PACRA’s board comprises nine (9) individuals – eight elected members while the CEO/MD is a deemed director. These professional individuals are drawn from diverse fields. All board members are non-executive except the CEO. Two board members are shareholder directors, two are nominee directors of LSE Financial Services Limited, one is shareholder’s nominee, and three of them are independent directors. PACRA’s Board plays a pivotal role in ensuring good governance. Board's role, functions, responsibility, and accountability are clearly defined. Primary role of Board is to assess the overall direction and strategy of the company and foster an environment that encourages ethical conduct and a commitment to compliance. In order to further its goal of sound governance practices, the board also plays a substantive role in establishing a policy-based governance system, reviewing and amending its bylaws periodically as necessary, avoiding conflicts of interest or even the appearance of them, and taking requisite actions under its fiduciary duty to protect PACRA's assets. The members of the Board have liberty to express their opinion and decisions are taken on the basis of a consensus arrived at after detailed discussions. The members are free to bring up any matter for discussion at the Board Meetings with the permission of the Chairman.
Mr. Usman Haider
Chief Executive Officer/Managing DirectorDate of Appointment: 01-Jan-23
Mr. Tariq Jamil
Chairperson & Independent DirectorDate of Appointment: 31-Dec-22
Mr. Mumtaz Hussain
Non- Executive DirectorDate of Appointment: 31-Dec-22
Mr. Sardar Ali
Non- Executive DirectorDate of Appointment: 31-Dec-22
Mr. Muzaffar Ahmad Virk
Nominee Director LSE Ventures Limited (Formerly: LSE Financial Services Limited)Date of Appointment: 26-May-23
Mr. Ammar-ul-Haq
Nominee Director LSE Ventures Limited(Formerly: LSE Financial Services Limited)Date of Appointment: 31-Dec-22
Mr. Sikandar Afzal
Non-Executive DirectorDate of Appointment: 31-Dec-22
Mr. Najaf Yawar Khan
Independent DirectorDate of Appointment: 31-Dec-22
Ms. Murium Haddi
Independent DirectorDate of Appointment: 27-Mar-24
Code of Conduct for the Board of Directors
PACRA observes the highest standard of integrity and fairness in all their dealings. The Directors are expected to articulate and demonstrate high standards of honesty and integrity. They are required to observe ethical and law abiding behaviour in the organization. The BOD is responsible for setting up the standards of conduct in accordance with the regulatory requirements and the best practices. The BOD is expected to understand the prevailing Code of Conduct (by SECP, ACRAA and Other regional good practices) and uphold these standards and ensure compliance. PACRA's BOD affirm compliance to SECP approved code for PACRA on an annual basis. The current Code of Conduct has been adopted by the BOD in their 67th Meeting held on 18th June, 2010. The Board takes care of:
- Compliance with laws, rules & regulations
- Ethical conduct
- Confidentiality
- Conflict of interest
- SECP restriction on Directors of Credit Rating Companies
- Insider trading
- Gifts
- Reporting of any illegal or unethical behavior
- Protecting company assets
- Waivers and Modifications