The Board of Directors of Pakistan Mercantile Exchange (PMEX) has elected Mr. Nadeem Karamat as the new Chairman of the Board. He is an independent director approved by the Securities & Exchange Commission of Pakistan (SECP) for appointment to the PMEX Board. In addition, the Board welcomed the appointment of Mr Hussain Ahmed Ozgen, Mr Ismail Hussain Naqvi, and Ms Natasha Jehangir Khan as independent directors and Mr Haroon Ihsan Piracha as a shareholder director.

Mr. Karamat’s distinguished career includes over 20 years with Fortune 500 companies, notably at American Express Bank, where he held key leadership roles across multiple regions. He later played a pivotal role in establishing the ECO Trade & Development Bank in Istanbul as its Founding Vice President, representing Pakistan and managing operations across 10 member countries.

In Pakistan, Mr. Karamat has led key financial institutions, including MA Capital Management and PaPak-Iranvestment Company. He has served on the boards of several prominent organisations and held key positions in industry bodies, including the American Business Council, the Overseas Investors Chamber of Commerce & Industry (OICCI), and the Pakistan Banking Association. His academic affiliations include LUMS and NUST, where he has contributed as a board member and trustee. He is a recipient of the Leadership & Performance Quality Award from the Chairman of American Express Company.

PMEX welcomes Mr. Karamat’s leadership and strategic direction as it continues to enhance its role in Pakistan’s evolving financial and commodity markets.