ISLAMABAD: The Institute of Financial Markets of Pakistan (IFMP) has announced the relocation of its head office to Islamabad as part of a strategic move to position itself as the leading institution for financial education and capacity building in the country. The decision, approved by the IFMP Board of Directors, aims to advance the institute’s national financial literacy initiative while maintaining a regional office in Karachi.

According to Securities and Exchange Commission of Pakistan (SECP), Dr. Kabir Ahmed Sidhu has been elected as the Chairperson of the IFMP Board, with Mr. Muhammad Ali Farid Khawaja joining as the SECP’s nominee member. The meeting, attended by key figures including Dr. Mubbashar Sadiq, CEO of IFMP, and Mr. Jawad Hashmi, COO of the Pakistan Stock Exchange, focused on empowering Pakistan’s youth and professionals with financial knowledge and skills.

Dr. Sidhu emphasized the potential for expanding financial inclusion and retail investment in Pakistan, where 64-67% of the population is under 30. SECP has set a goal to increase the capital market investor base from approximately 500,000 to 2.5 million, highlighting financial literacy as crucial to this expansion. IFMP’s initiative will target schools, universities, and professional communities to foster participation in the formal financial sector.

Mr. Khawaja stressed the importance of broadening the Pakistan Stock Exchange’s reach across the country, as new investors emerge from various regions. He announced plans for IFMP to offer free online financial literacy courses, professional development programs, and certification courses to cultivate a skilled financial services workforce.

The Board expressed gratitude for the contributions of outgoing SECP nominee directors Mr. Osman Syed and Dr. Yasir Mahmood, and recognized Mr. Shoaib Javed Hussain for his leadership as the former Chairperson of the IFMP Board.