First National Equities Limited
Board of Directors & Profiles
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Board of Directors & Profiles
Mr. Waseem Ahmad Khan
Chief Executive Officer / Director
Mr. Waseem Ahmad Khan is a capital-markets professional with extensive experience in equity trading, brokerage operations and client services. He holds a Bachelor of Arts degree from the University of the Punjab. He has served First National Equities Limited since April 2008 in trading and KATS operations and was previously associated with First Pakistan Securities Limited and Khawaja Sami Rasheed as a KATS Operator. His experience includes execution of purchase and sale orders, resolution of trading matters, client relationship management and brokerage-account support. He holds certifications in Trading Work Station, Fundamentals of Capital Markets, Stock Brokerage and Pakistan Market Regulations. As Chief Executive Officer and a Director of FNEL, he is responsible for providing executive leadership to the Company and contributes practical market knowledge, regulatory understanding and operational experience to the Board. He also chairs the Board's Human Resource and Remuneration Committee.
Mr. Amir Shehzad
Executive Director
Mr. Amir Shehzad is an experienced capital-markets executive with a professional background in equity sales, fund and portfolio management, risk management and brokerage operations. He holds a Bachelor of Arts degree in History from the University of the Punjab through Government Islamia College, Railway Road, Lahore. He has held senior positions at First National Equities Limited, including Executive Director, Chief Operating Officer and Head of Proprietary Sales. Before joining FNEL, he served First Pakistan Securities Limited in equity trading and sales roles, worked as Portfolio Manager at Japan Power Generation Limited and operated MSM Trading Corporation. His experience covers sales strategy, client acquisition, listed-company research, investment consultation, order execution, margin monitoring and management of equity and fixed-income portfolios. He has completed the ICAP Directors Training Programme and holds certifications relating to stock brokerage, capital markets, market regulations and trading systems. He is also a member of FNEL's Human Resource and Remuneration Committee.
Ms. Mavra Liaqat
Executive Director
Ms. Mavra Liaqat is a corporate-governance, compliance and operations professional with approximately six years of experience in the financial-services sector. She holds an Masters from the University of Lahore and a Bachelor from The Islamia University of Bahawalpur. She joined First National Equities Limited in September 2020 and served as Head of Customer Support until February 2025, overseeing client-service operations, account opening, NCCPL and CDC processes, KYC and NCSS portals, customer due diligence, enhanced due diligence, AML records and regulatory audit documentation. Since March 2025, she has served as Company Secretary of FNEL, leading the corporate secretarial function of the listed company. Her responsibilities include advising the Board on governance and regulatory matters; coordinating Board, committee and shareholder meetings; managing statutory filings, disclosures and records; liaising with SECP, PSX, CDC, auditors and legal advisers; and supporting corporate actions and group-company compliance. As Executive Director, she brings practical expertise in governance, regulatory compliance and brokerage operations to the Board.
Mr. Muhammad Umair Khan
Non Executive Director
Mr. Muhammad Umair Khan serves as a Non-Executive Director of First National Equities Limited. In this capacity, he contributes to the Board's deliberations on corporate strategy, governance, performance oversight and organizational development while remaining independent of the Company's day-to-day executive management. He also serves as a member of FNEL's Human Resource and Remuneration Committee, where he contributes to the review of human-resource policies, senior-management matters and remuneration practices. His Board role supports balanced decision-making, accountability and effective oversight of the Company's long-term direction.
Mr. Muhammad Bilal
Independent Director
Mr. Muhammad Bilal is a retired Lieutenant Colonel and an administration and security professional with extensive service and leadership experience. His supplied record states a Bachelor of Arts qualification and professional training at the Pakistan Military Academy, Kakul. His career includes command, coordination, intelligence, counterterrorism, security and staff appointments within the Pakistan Army and associated institutions. During his career, he served in appointments including Platoon Commander with 3 Commando (SSG), Battery Commander, Officer Commanding and Second-in-Command roles, Staff Officer in the office of the Director General ISI, and Additional Director Security at DHA. In the corporate sector, he served as Manager Security at Fauji Fertilizer Bin Qasim Limited from August 2013 to September 2017. His background provides the Board with experience in leadership, security governance, risk assessment, crisis management and institutional administration. He serves as an Independent Director and chairs FNEL's Audit Committee.
Mr. Adnan Amjad Khan
Chairman / Independent Director
Mr. Adnan Amjad Khan is an accounting and finance professional with more than eight years of diversified experience in financial reporting, audit, compliance and financial management. He holds a Bachelor of Commerce in Information Technology from the University of the Punjab and has completed the Certificate in Accounting and Finance (CAF) from the Institute of Chartered Accountants of Pakistan. He is also recorded as a CA Finalist. His professional experience includes serving as Manager Accounts and Finance at Balitex (Private) Limited, Manager Compliance at Saleem Automotive Industries (Private) Limited, and Senior Audit Associate at Azhar Zafar & Company, Chartered Accountants. His experience encompasses accounting operations, preparation of financial statements and cash forecasts, taxation, costing, internal and external audits, regulatory compliance, reconciliations and development of accounting policies and procedures. He is a certified director under the ICAP Directors Training Programme and, as Chairman of FNEL, brings financial, audit and governance expertise to the Board.
Ms. Ayesha Afzal
Independent Director
Ms. Ayesha Afzal holds an MBA in Banking and Finance from Government College University, Faisalabad. Her professional experience includes client-services work at AlHuda Centre of Islamic Banking and Economics, where she handled client inquiries, call-centre operations and customer support. She has been associated with First National Equities Limited's Audit Committee since June 2025, supporting the review of financial and compliance matters, internal-control processes and governance documentation. As an Independent Director, she contributes a banking-and-finance perspective to the Board and supports objective oversight of financial reporting, compliance and internal controls.