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The CFA Society Pakistan (Formerly known as CFA Association of Pakistan) is registered with SECP under Section 42 of Companies Ordinance, 1984. The entity is a regular filer of Income Tax Return and operate under defined Memorandum and Articles of Association. Elections will take place every three years according to a recent resolution passed by the Board and in the Annual General Meeting. 

The Board, comprising of seven Directors, is assisted by an Executive Director and three staff members to run the Society Office. Support is also derived from the Asia-Pacific Team of the CFA Institute in Hong Kong SAR, that has strong expertise in branding, technology, memberships, advocacy, research, and development of capital markets etc. Also, active volunteers are the core strength of the Society who help us achieve our goals.

CFA Society Pakistan derives its strength from a core team of dedicated investment professionals who volunteer significant time and energy to support the mission of CFA Society Pakistan. Activities conducted by the Society aim to provide members with opportunities to interact, share ideas, and keep abreast of the new developments in the industry as well as to deliver value to the investment management profession. 

Activities have been more clearly organized along functional lines, in the form of Committees.

The 2021 - 2024 elected Board of Directors include the following:​

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Abdul Rehman Warraich, CFA

President and Advocacy Co-Chair, CFA Society Pakistan

Fiscal Space Advisor, Sub-National Governance, Lahore 

Email Abdul Rehman Warraich

Mr. Warraich has more than 23 years of Professional Career in both Private and Public Sector. He has served in both Provincial and Federal Government including Debt Management (Government of Pakistan, as well as Government of Punjab), Taxation Reforms (Government of the Punjab), Financial Consulting (Oxford Policy Management), Investment Management and Research with leading Asset Management Companies, Risk Management (Government of the Punjab), Civil Service (Federal Board of Revenue) and Teaching.

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Sajjad Anwar, CFA

Vice President and Employer Relations & Career Chair, CFA Society Pakistan

Chief Executive Officer, AWT Investments Limited 

Email Sajjad Anwar

Mr. Sajjad Anwar holds wide-ranging experience in the financial markets of Pakistan spanning over 20 years that involves Equity Research, Portfolio Management, Investment Advisory, Risk Management, and Finance & Accounts. For the last 14 years, he has been working in the fund management industry. He is currently working with NBP Funds as Chief Investment Officer. As a CIO, he is leading the largest and most qualified investment team in the industry that manages investments of Rs. 180 billion in mutual funds, ETF, VPS, and Investment Advisory portfolios. Prior to joining NBP Funds in 2007, he was associated with Army Welfare Trust (AWT) as Manager Strategic Risk Management. He started his career with Shifa Foundation as an Assistant Manager Finance & Accounts. He was also associated with International Islamic University, Islamabad as a visiting faculty member. Mr. Sajjad Anwar holds MBA in Finance and is a CFA charterholder.

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Syed Raza Jafri, CFA

General Secretary & University Relations Chair, CFA Society Pakistan

Head of Equities, Intermarket Securities Ltd. 

Email Raza Jafri

Raza Jafri is the Head of Equities at Intermarket Securities Ltd (IMS) and possesses about 15 years of experience in sell-side equity research and sales. Other than the Board of the CFA Society Pakistan, he advises the Board of Studies at the Institute of Business Management (IoBM). Prior to joining IMS in 2015, he was Head of Research at AKD Securities Limited.

Raza carries an in-depth understanding of major sectors at the KSE with a specialization in covering Commercial Banks. He was ranked by Bloomberg as among the best banking sector analysts in Pakistan, and has been awarded "Best Analyst" by the CFA Society of Pakistan in 2015 and best "Banks Coverage" in Pakistan by Asia Money in its 2012 Brokers Poll. Raza graduated with a BSc. (Hon) in Finance & Accounting from Lahore University of Management Sciences (LUMS) and is a CFA Charterholder.

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Abdul Rehman Tahir, CFA

Treasurer & Membership Chair, CFA Society Pakistan

Fund Manager - Fixed Income, ABL Asset Management Limited

Email Abdul Rehman Tahir

Mr. Abdul Rehman joined ABL AMC in 2017 and is currently designated as Fund Manager, Fixed Income where he is managing a total AUM of more than PKR 60 Billion. Mr. Abdul Rehman has a total work experience of over ten years that spans across various industries that includes working for a U.S based Hedge Fund with his last assignment as Deputy Manger Treasury at a Public Limited Company with an annual turnover of USD 180 million.

Mr. Abdul Rehman started his career by working as a Trader at Corey Macro, a U.S Based Hedge Fund, and soon was promoted to the position of Research Analyst. He then took a more challenging role as a Business Analyst at DH Fertilizers Limited where he worked on developing comprehensive business plans including detailed financial models for both coal based and LNG based power plants and was handed over an additional responsibility of managing employee funds. His last assignment, before joining ABL AMC, was as Deputy Manager Treasury at Service Industries Limited where he was responsible for managing all banking relationships, hedging currency risk and managing both corporate and employee funds.

Mr. Abdul Rehman has completed his Bsc. (Hons) in Economics and Finance followed by an MBA from Lahore School of Economics and has passed all three levels of the CFA (Chartered Financial Analyst) program.

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Mohammad Shoaib, CFA

Advocacy Chair, CFA Society Pakistan

CEO, Al Meezan Investment Management Limited

Email Mohammad Shoaib

Mr. Mohammad Shoaib, CFA is the CEO of Al Meezan Investment Management Limited, the only full-fledged Shariah compliant asset management company in Pakistan managing the country's largest portfolio under Shariah mandate.

Mr. Shoaib has over 30 years of experience related to managing investment portfolios and is currently heading a diverse team of over 600 members with qualifications in area  Business Administration, Chartered Accountancy, ACCA, CFA and other relevant background. He completed his MBA from Institute of Business Administration (IBA), Karachi in 1988 and got CFA Charter in 1999. He has taught several courses related to his field at IBA as a visiting faculty member.

He was the founder and first President of CFA Society Pakistan, which was set up by him in 2002. During his leadership, CFA Society Pakistan achieved several milestones such as "Innovation Award" and "Strategic Planning Award" from CFA Institute. Due to his contribution to the mission of CFA Institute, he was declared as the "Most Influential CFA Charterholder in 2006" by CFA Institute Magazine and received the "Volunteer of the Year: Lifetime Achievement Award" from CFA Institute in 2019. 

During 2008 to 2012, he was elected by 16 CFA societies in Asia Pacific region to represent over 16,000 charterholders on the Presidents' Council of CFA Institute. During his career, he has served or is currently serving in many volunteer capacities including:

·         Member of CFA Institute Asia Pacific Advocacy Committee

·         Member of CFA Institute Global Task Force on Corporate Governance

·         Member Executive Committee, Global Investment Performance Standards

·         Member, Asset Manager Code Advisory Committee of CFA Institute

·         Nominee director of SECP on Board of Karachi Stock Exchange

·         Board member of Institute of Capital Markets in Pakistan

·         Chairman, Mutual Funds Association of Pakistan

·         Board member Pakistan Institute of Corporate Governance (2011 – 2014)

·         Member of the Academic Board of Institute of Business Administration, Pakistan

·         Member of the Central Bank's Committee on Islamic Capital Markets

·         Member of Annual Conference Advisory Committee of CFA Institute   

He has participated in various seminars, conferences and workshops across the globe during his 30-year career in managing investments. During the last 17 years of his career, he has focused exclusively on managing Shariah Compliant or Islamic portfolios. He has been a speaker / panelist at various conferences on the subject of Islamic Asset Management in Middle Eastern and Far Eastern countries. He has also been featured in CFA Magazine with reference to his contribution to Islamic asset management, corporate governance and volunteer leadership roles.

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Muhammad Tahir Saeed, CFA

ARX Chair & University Relations Co-Chair,CFA Society Pakistan

Chief Investment Officer, Systems Ventures 

Email Muhammad Tahir

Mr. Muhammad Tahir Saeed possesses over 8 years of experience in sell-side and buy-side equity research. Currently, he is working as Chief Investment Officer at Systems Ventures Private Limited where his primary role is to fund new start-ups, participating in seed and/or series A/B rounds of funding, originating and leading M&A transactions, managing group investments, and employees’ provident fund. Prior to joining Systems, he was working at ABL Asset Management as a Head of Research since 2017. For a brief period, he also held the portfolio of Risk Management where he was overseeing investment as well as operational risk as Head of Risk Management.

Before ABL AMC, he served as a Deputy Head of Research at Topline Securities Limited. He was overseeing Research services and client relationships, both domestic and international which include client servicing and query response. He also represented his company at international conferences and equity roadshows across global financial centers. Mr. Tahir carries an in-depth understanding of major sectors at the Pakistan Stock Exchange (PSX) and was ranked by Asia Money in 2015 as the best ‘Small Caps and Telecommunication Sector Analyst’ in Pakistan. Mr. Tahir graduated with a master’s degree in business economics from the University of the Punjab and is a CFA Charterholder. He is also currently serving as a board member of CFA Society Pakistan.

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Rukhsana Narejo, CFA

Inclusion and Diversity Chair, CFA Society Pakistan

Head of Treasury Division & Financial Institutions, Sindh Bank Limited

Email Rukhsana Narejo

Ms. Rukhsana Narejo, CFA is Head of Treasury Division & Financial Institutions at Sindh Bank Limited. Ms. Narejo has versatile experience of working with Asian Development Bank, National Fullerton Asset Management Company, Standard Chartered Bank, BMA Asset Management Company & Crescent Capital Management Limited.  Her association with the financial industry in Pakistan has been for more than 18 years with diverse experience earned through working in Banking, Asset Management, and Brokerage, she also has been part of the ADB team for Pension Provident Fund reforms. She is a CFA Charterholder since 2006. She served the CFA Society of Pakistan as its board member for two terms, initially from 2009 to 2011, and then from 2013 to 2015. As Board Member she worked with SECP, as part of its advocacy team, and with CFA Ins. USA to improve regulations, including monitoring of various stakeholders, and to introduce GIPS performance measurement standards for Asset Management Companies of Pakistan.


Sarwat Ahson

Executive Director, CFA Society Pakistan

Email Sarwat Ahson

Sarwat Ahson brings with her 20 years of blended experience in Corporate Banking, Consulting, Teaching, Training and Project Management. In her last assignment she was engaged in establishing the Centre for Excellence in Islamic Finance at IBA funded by the Central Bank. Ms. Ahson has authored chapters in various books and writes for DAWN and BR. She holds a BBA (Hons.) and an MBA degree from Institute of Business Administration. She is also a CFA level III candidate.

 Northern Chapter


Usman Hayat, CFA

Chair, Islamabad Chapter - CFA Society Pakistan 

 Past Directors

Ashraf Bava, CFA – President (2014 to 2018)

Muhammad Javaid Iqbal, CFA – President (2009-2013)

Mohammad Shoaib, CFA – President (2002-2008)

Ashraf Bava, CFA​

Abdul Aziz Anis, CFA

Abdul Rasheed Narejo, CFA

Amna Waheed Khalid, CFA

Anis Ur Rahman, CFA

Basit Shajani, CFA

Farhan Talib Karim, CFA

Farid Ahmed Khan, CFA

Imtiaz Gadar, CFA

Irfan Ahmad Khan, CFA

Irum Ibrahim, CFA

Jafar Khan, CFA

Kamran Aziz, CFA

Kashif Shamraiz, CFA

Mir Mohammad Ali, CFA

Mohammed Saqib, CFA

Umar Saeed, CFA

Omar Naeem, CFA

Sateesh Balani, CFA

Rukhsana Narejo, CFA


Co-opted Directors:

Sohail Baig, CFA

Suhail Yaqoob Khan, CFA

Ayesha Aziz, CFA

Ruhail Mohammed, CFA

(Late) Asif Iqbal Qureshi, CFA

Dr. Inayat Hussain, CFA​

Mohammad Shoaib, CFA

Mona Sultan, CFA

Mudasser Hussain, CFA

Muhammad Ali Bhabha, CFA

Muhammad Asim, CFA

Muhammad Sajid Farooqi, CFA

(Late) Muhammad Sajid, CFA​​​

Rukhsana Narejo, CFA

Qasim Mohammed Lakhani, CFA

Rizwan Hameed Chapra, CFA

Ruhail Y. Mohammed, CFA

Sadaf Shabbir, CFA

Sohaib Umar, CFA

Sohail Abbas Sumrani, CFA

Syed Akbar Ali, CFA

Zaheeruddin Khalid, CFA

(Late) Asif Iqbal Qureshi, CFA

Umer Mehmood Khalid, CFA

Muhammad Zeeshan, CFA

Raza Jafri, CFA