KARACHI – Farrukh H Khan has stepped down as Chief Executive Officer (CEO) of Pakistan Stock Exchange Limited (PSX) around 1.5 years before the end of his official tenure at the coveted post.
A notification issued by stock exchange stated “Farrukh H Khan has tendered his resignation from the position of Chief Executive Officer of Pakistan Stock Exchange Limited in order to pursue other opportunities.”.
The board members accepted his resignation and expressed appreciation for his dedication and commitment. They will collaborate with him to ensure a smooth transition, which is expected to be completed by September 2, 2024.
Khan’s term as Stock Exchange Chief was renewed last year by Board of Directors of PSX for another three years, starting from February 4, 2023. He originally joined PSX in February 2020, coinciding with onset of the Covid-19 pandemic in Pakistan.
During his reign, Pakistan Stock Exhange was downgraded from an emerging market to a frontier market by Morgan Stanley Capital International (MSCI). He also initiated significant digital advancements at PSX, such as Online Account Opening, EIPO, and Sahulat Account facilities.
The listing process was digitized through the PRIDE portal and a dedicated webpage, Public PRIDE.
One of his major achievements was the launch of the Roshan Equity Investment account facility in partnership with the State Bank of Pakistan and leading banks, which allows Non-resident Pakistanis to invest in Pakistan’s capital market.
