Management Profiles

The main function of CDC is to operate and maintain the Central Depository System (CDS)

Muhammad Junaid Shekha

CEO – ITMinds Limited

Muhammad Anwar Gopalani

Chief Human Resource Officer

Atiqur Rehman

Head of Trustee & Custodial Services - Unit I

Shariq Jafrani

CFO & Company Secretary

Aftab Ahmed Diwan

Chief Executive Officer

Farooq Hussain

Head of Administration

Shariq Naseem

Head of Product Development and Marketing

Syed Asif Shah

Chief Information Officer

Badiuddin Akber

Chief Compliance & Risk Officer

Abdul Samad

Head of Trustee & Custodial Services Unit II and Share Registrar Services

Hammad Ali Faisal

Chief Internal Auditor

First Row (L-R): Aftab Ahmed Diwan, Syed Asif Shah, Abdul Samad.
Second Row (L-R): Atiqur Rehman, Badiuddin Akbar, Anwar Gopalani.
Third Row (L-R): M. Shariq Naseem, Shariq Jafrani, Farooq Hussain.
Fourth Row (L-R): Junaid Shekha, Hammad Ali Faisal.

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Muhammad Junaid Shekha

CEO – ITMinds Limited

Mr. Junaid Shekha began his career as a trainee chartered accountant with Price Waterhouse Coopers in Karachi and later with Ernst & Young, working in both its Karachi and London offices.

He has been serving as the Chief Executive Officer of ITMinds Limited (a wholly owned subsidiary of Central Depository Company) since July 1, 2014. ITMinds offers accounting outsourcing services and is working towards growth and promotion of this concept in Pakistan.

Earlier, Mr. Shekha joined the Central Depository Company of Pakistan Limited (CDC) in early 2006 and led various teams and initiatives in different areas of the business such as Internal Audit, Operations and Product Development. His last assignment in CDC was as the Chief Internal Auditor, a position which he held for two years. His other roles and responsibilities included managing CDC’s CSR initiatives and serving as the Business Continuity Manager.

He has served as an elected member of Southern Regional Committee (SRC) of the Institute of Chartered Accountants of Pakistan (ICAP) for the term 2013 – 2017 and also held the position of Chairman SRC for the term 2013-14.

Mr. Shekha is a certified auditor by the Institute of Internal Auditors, USA and a fellow member of the Institute of Chartered Accountants of Pakistan and Institute of Cost & Management Accountants of Pakistan. He is also a certified director from ICAP.

Muhammad Anwar Gopalani

Chief Human Resource Officer

Muhammad Anwar Gopalani has been associated with the profession of Human Resources for more than 30 years. He has worked with renowned National and Multinational companies like Philips Electrical Industries, Merck Sharp & Dohme and Sui Southern Gas Company Limited.

At the Central Depository Company of Pakistan Limited, he has been leading the Human Resources Department since August 2008.

He has also served on the Board of Governors of Pakistan Society for Training & Development and as a Member of Scholarship Committee of Petroleum Institute of Pakistan.

He obtained his Bachelor’s Degree in Law from S. M. Law College and received Master’s Degree in Political Science from University of Karachi in 1987 and 1989 respectively. He holds a Post Graduate Diploma in “Labor Administration & Industrial Welfare” from National Institute of Labor Administration & Training (NILAT). He has also received ‘Trainer for Leadership’ training from B&W, USA and is an accredited MBTI practitioner from CAPT, USA. He is also a Certified Professional of Australian Human Resource Institute.

Atiqur Rehman

Head of Trustee & Custodial Services - Unit I

Atiqur Rehman joined CDC’s Operations Department in March 1997 and played a key role in the successful implementation of Central Depository System and National Clearing & Settlement System. He then led the Product Development & UAT Department in 2004 and re-engineered Central Depository System. Later he led the Application Development Department in 2005 where he supervised the implementation of CDC access IVR & Web, Unique Identification Number and several other modules in CDS & NCSS. Currently he is serving as the Head of Trustee & Custodial Services Unit I since 2006.

He acquired his Bachelors of Commerce Degree from University of Karachi and is a Chartered Accountancy Finalist and ICMA qualified professional.

Shariq Jafrani

CFO & Company Secretary

Mr. Shariq Jafrani is a member of the Institute of Chartered Accountants of Pakistan and registered with Institute of Chartered Accountant of England and Wales for professional stage. He also holds a Master Degree in Economics and Post Graduate Diploma (PGD) in Computer Sciences from Karachi University.

Mr. Jafrani began his career as a trainee with Ernst & Young (E&Y) Chartered Accountants from where he completed his chartered accountancy mandatory training period and later on worked on supervisory position. During his stay with E&Y he has been deputed to different locations of E&Y which include London, Edinburgh, Glasgow, Cape Town and Johannesburg offices.

Mr. Jafrani joined CDC in the year 2008 in the Company Secretariat and later on worked in Product Development before assuming the responsibility of Senior Manager Budgeting and Planning.

In addition to his role as Senior Manager – Budgeting and Planning, Mr. Jafrani also served as CFO & Company Secretary of ITMINDS Limited - a wholly owned subsidiary of the Company till June 30, 2014.

Prior to assuming the role of CFO and Company Secretary of CDC, he has also served as Chief Internal Auditor.

Aftab Ahmed Diwan

Chief Executive Officer

Mr. Aftab Ahmed Diwan joined CDC in 1999 and is currently serving as the Chief Executive Officer. He has previously served as the Chief Operating Officer from 2004 to 2017 and Head of Operations from 1999 to 2004.

Mr. Diwan is a seasoned professional in the field of Custodial Services. He started his career with Citibank in 1981. During his long tenure with the bank, Mr. Diwan had varied exposure in different operational and business areas, which also included offshore assignments. He served Citibank Romania as Securities Business Manager looking after both business and operational activities and Citibank United Kingdom as part of the project team for Securities related Cash Exception Project.

He has represented CDC and the Pakistan Capital Market on various international forums including the Association of National Numbering Agencies (ANNA) and International Securities Services Association (ISSA). Furthermore, he is a member of the Executive Committee of Asia-Pacific Central Securities Depositories Group (ACG) and also represents the Asia-Pacific Region on the Executive Board of World Forum of CSDs (WFC), the global body of five regional Securities Depositories associations.

Mr. Diwan also spearheaded the creation, design and implementation of various projects to support Capital Market of Pakistan including the National Clearing and Settlement Services project. He is also serving as a Director on the Board of Institute of Financial Markets of Pakistan (formerly Institute of Capital Markets), and ITMinds Limited (a wholly owned subsidiary of CDC).

Farooq Hussain

Head of Administration

Farooq Hussain is the Head of Administration at Central Depository Company of Pakistan Limited. He joined CDC in 1995 as Administration Officer and played an active role in developing and implementing administrative policies for the company. In 2000 he was appointed as the head of administration at CDC where his primary responsibilities include supervising the physical security and network of branches across Pakistan. He has been proactively involved in the construction, refurbishment and renovation of the Company’s Head Office at CDC House, Shahra-e-Faisal, Karachi. He is a member of Security Professionals Forum.

He obtained his Bachelor’s Degree in Law from University of Karachi and is a member of Sindh and Karachi Bar Councils.

Shariq Naseem

Head of Product Development and Marketing

Mr. Shariq Naseem started his career at the local franchise of Dun & Bradstreet Inc. USA in 1998 and later joined VIS Group (parent company of JCR-VIS Credit Rating Company) for the establishment of Pakistan’s first consumer & corporate Credit Bureau.

In 2001, Mr. Naseem joined the Operations Department of Central Depository Company and served as a core member of the team which successfully launched National Clearing & Settlement System. Later at the Product Development department, he played a lead role in the launch of various important projects including the Automation of Securities Movement, Investment Portfolio Services (IPS), Direct Settlement Mechanism (DSM) and Centralized Information Sharing Solution for Insurance Industry (CISSII).

Currently, he is heading the Product Development and Marketing Department. Since 2013, he is playing an important role while the Company is launching products and services catering to market sectors other than just the Capital Market. He is also spearheading an extensive series of country-wide investor awareness seminars since 2013 onwards.

He has also represented CDC on various international forums such as Asia Pacific Central Securities Depository Group (ACG), and International Securities Services Association (ISSA) etc. For the term 2013-2016, he spearheaded the activities of the ACG Secretariat, contributing in policy making and strategic planning initiatives of the regional association.

Moreover, he represents ACG on the World Forum of CSDs (WFC) which is a global body of depositories. He recently chaired the Agenda Steering Committee of the WFC 2017 Conference. The Committee was responsible for drafting and finalizing the agenda of the conference and selecting speakers/panelists from all over the world. It had representation from depository associations of the Americas, Africa and Middle East, Europe, Asia and Eurasia.

Mr. Naseem represents the non-bank financial sector of the country on the Technical Committee and the respective sub-committee formed under National Financial Inclusion Strategy (NFIS). He is also a member of the Board of Studies of Undergraduate Programs of Institute of Business Management (IoBM).

He obtained his Bachelors and Masters in Business Administration (Majors in Marketing) from Hamdard University, Karachi in 1997 and 1998 respectively.

Syed Asif Shah

Chief Information Officer

Syed Asif Shah has worked in various capacities in both Application Development and IT Operations in the financial industry. Under his lead CDC has successfully implemented IT solutions for its depository, trustee & custodial, share registrar, mutual funds back office accounting and National Clearing Company’s clearing & settlement services. He has led CDC in acquiring ISO 27001 & BS25999 certifications for its Information Security and Business Continuity Management programs respectively. He has helped setup CDC’s subsidiary ITMinds Limited and was credited for a number of successful engagements in Pakistan, Middle East and Africa. One such implementation for the life insurance industry in Pakistan has been awarded best in financial applications category by [email protected] in 2013.

He obtained his Master’s degree in Computer Science as a position holder from the University of Karachi in 1994.

Badiuddin Akber

Chief Compliance & Risk Officer

Mr. Badiuddin Akber has more than 18 years of diversified senior management experience in the fields of finance and operations. He has served as Chief Financial Officer, Company Secretary and Chief Operating Officer in various renowned conglomerates in Pakistan such as Dewan Mushtaq Group, Orion Group and National Clearing Company of Pakistan Limited.

He previously served CDC in the Legal & Compliance and Operations departments from 1998-2001 and re-joined in June 2015 as Chief Compliance & Risk Officer. In between, he worked for the well-known packaging group ASG Shorewood Packaging-International Papers in Toronto as Senior Financial Analyst.

Mr. Akber has demonstrated extensive expertise in the spheres of Financial Management, Clearing & Settlement, Risk Management, Operations, Product Development and Project Management in the Pakistan Capital Market. As Chief Operating Officer at NCCPL, he played an instrumental role by implementing various products and services like Revamped Capital Gain Tax Regime, Unique Identification Number (UIN), Institutions’ Risk Management System, Margin Trading System, Margin Financing System, Securities Lending & Borrowing, UIN Information System (UIS) and many more. He has also served on various committees formed by the Securities and Exchange Commission of Pakistan and the country’s stock exchanges from time to time.

Mr. Akber is also the nominated Chairman of the Oversight Committee formed by the Securities and Exchange Commission of Pakistan under Joint Inspection Regulations, 2015. He has also obtained trainings conducted by US Securities & Exchange Commission and Bombay Stock Exchange-India on Capital Market Operations and has attended various seminars and conferences in UK, Europe and Far-East countries on risk management, clearing & settlement and surveillance of capital market operations.

Mr. Akber is a Fellow Member of the Institute of Cost & Management Accountants of Pakistan (FCMA) and holds ACMA-CGMA (Chartered Global Management Accountant) qualification from the Chartered Institute of Management Accountants (CIMA– UK). He also holds a Bachelor’s Degree in Commerce from University of Karachi.

Abdul Samad

Head of Trustee & Custodial Services Unit II and Share Registrar Services

Abdul Samad joined CDC’s Operations Department in 1996 and was a key member of the team that launched Central Depository System. In 2005 he was appointed as the Head of Operations and later assumed the role of Head of Share Registrar Services in 2008. Currently he is the Head of Trustee & Custodial Services Unit II and Share Registrar Services.

He obtained his Bachelors of Commerce from University of Karachi in 1991. He has qualified as a Chartered Accountant from the Institute of Chartered Accountants of Pakistan (ICAP) in November 1997 and was admitted as a Fellow Member of ICAP in 2008.

Mr. Hammad Ali Faisal

Chief Internal Auditor

Mr. Hammad Ali Faisal is a member of the Institute of Chartered Accountants of Pakistan since 2006. He began his career as a trainee with A. F. Ferguson & Co. Chartered Accountants (a member firm of PwC network) from where he completed his mandatory training period and later worked as Manager Taxation for one and a half year. During his stay with A. F. Ferguson, he was deputed to different locations of PwC including Kuala Lumpur, Malaysia office.

Prior to joining Central Depository Company of Pakistan Limited (CDC) Mr. Faisal also served as Manager Accounts in Pakistan Cables Limited. Mr. Faisal joined CDC in the year 2008 as Manager Internal Audit and after serving for three years he was elevated to the position of Head of Operations & Customer Support Services. Lately, Mr. Faisal has been assigned the responsibilities of Chief Internal Auditor from September 21, 2015.