The Securities and Exchange Commission of Pakistan (SECP) extends its heartfelt congratulations to Mr. Badiuddin Akber, CEO of Central Depository Company (CDC) Pakistan, on his esteemed appointment as Chairman of the Asia-Pacific Central Securities Depositories Group (ACG) for the 2024-2027 term. This appointment marks a significant achievement for both Mr. Akber and CDC, reflecting the remarkable progress and leadership CDC has demonstrated within the financial sector. Furthermore, it enhances Pakistan’s standing in global financial markets and represents a milestone for the country’s engagement with the international financial community.
Mr. Badiuddin Akber’s journey to this prestigious position has been characterized by his dedication, visionary leadership, and profound expertise in the financial services industry. With a career spanning over two decades, Mr. Akber has established himself as a key figure in Pakistan’s financial landscape. His strategic approach and commitment to market development have been evident through his various roles in the financial sector. Before assuming his role as CEO of CDC, he held pivotal positions in different financial institutions, where he led numerous initiatives aimed at enhancing operational efficiency and market integrity. His appointment as Chairman of the ACG is a recognition of his outstanding contributions to the financial markets and his ability to lead in a dynamic and evolving industry.
CDC Pakistan, under the leadership of Mr. Akber, has been at the forefront of transforming Pakistan’s capital market infrastructure. Established with the mission to ensure a safe, transparent, and efficient depository system, CDC plays a vital role in the country’s financial ecosystem. It provides a range of services, including the safe custody of securities, the facilitation of securities transactions, and the implementation of corporate actions. Through these services, CDC has helped enhance market efficiency, increase investor confidence, and foster the development of Pakistan’s financial markets.
Under Mr. Akber’s stewardship, CDC has achieved significant milestones, such as the adoption of advanced technologies to automate and streamline the securities settlement process. These advancements have reduced settlement risks and improved market transparency. By aligning with international standards and best practices, CDC has positioned itself as a model depository, not just within Pakistan but also in the broader Asia-Pacific region. Moreover, CDC’s efforts to promote financial literacy and investor awareness have broadened market participation, contributing to the overall growth of Pakistan’s capital market.
The Asia-Pacific Central Securities Depositories Group (ACG) plays a crucial role in the global financial system by fostering collaboration, knowledge sharing, and best practices among central securities depositories (CSDs) in the Asia-Pacific region. Since its inception, the ACG has been instrumental in addressing the challenges faced by CSDs, promoting cross-border cooperation, and enhancing the resilience of securities markets. The ACG’s work is vital in ensuring the stability and integration of securities markets, especially in an era where financial systems are becoming increasingly interconnected.
As the newly appointed Chairman of ACG, Mr. Akber is expected to bring his visionary leadership and extensive expertise to the organization’s strategic initiatives. His appointment signals a new chapter for ACG, one that is expected to focus on fostering regional cooperation, promoting market innovation, and enhancing the infrastructure of securities depositories. With financial markets facing rapid technological changes and evolving investor needs, Mr. Akber’s role in shaping ACG’s future direction will be crucial. His leadership is anticipated to guide the ACG in navigating these challenges, ensuring that the Asia-Pacific region continues to thrive as a key player in global finance.
The significance of Mr. Akber’s appointment extends beyond CDC and the ACG. It represents a proud moment for Pakistan, highlighting the country’s growing influence in the global financial sector. As Chairman of ACG, Mr. Akber will be a key advocate for the Asia-Pacific region, bringing forward the perspectives and interests of diverse markets. This role provides an excellent opportunity for Pakistan to enhance its engagement with international markets, contributing to the development of a more integrated and resilient global financial system. Mr. Akber’s leadership in this role is expected to lead to greater cross-border cooperation, investment opportunities, and the adoption of best practices within the region.
With this appointment, there are high expectations for the initiatives that Mr. Akber might spearhead. These may include driving innovation through the implementation of new technologies such as blockchain for securities settlement, promoting the adoption of global standards, and enhancing the security and efficiency of depository services. Furthermore, his leadership could facilitate collaborations with international regulatory organizations, ensuring that the Asia-Pacific securities markets align with global developments and standards. This alignment is crucial for maintaining market integrity, attracting foreign investment, and fostering sustainable economic growth.
In conclusion, the SECP congratulates Mr. Badiuddin Akber on his remarkable achievement. His appointment as Chairman of the Asia-Pacific Central Securities Depositories Group is a testament to his leadership, expertise, and the significant strides made by CDC Pakistan. We are confident that under his guidance, the ACG will reach new heights, fostering cooperation and innovation within the region’s financial markets. This accomplishment not only brings honor to CDC but also elevates Pakistan’s standing in the international financial arena. We look forward to the continued success of Mr. Akber in this important role and the positive impact he will have on the future of the global financial markets.