About Us

KTrade Securities Limited (formerly known as Khadim Ali Shah Bukhari Securities Limited) is a new age stock and commodity brokerage in Pakistan. We are TREC license holders of Pakistan Stock Exchange and members of Pakistan Mercantile Exchange. We are licensed by the Securities and Exchange Commission of Pakistan. We believe that tech enabled digital technologies can rive Pakistan’s economic growth. KTrade is the most downloaded investment application with over 200,000 registered users. Our goal is to connect capital with growth companies and to help transform people’s lives by helping them make better financial decisions.

OUR VISION

Our Vision is to Democratize investments in Pakistan by providing people access to financial information, education and markets.

OUR MISSION

Is to Get 10 million Pakistanis make better savings and investment decisions by engaging with KTrade

Board of Directors

Ali has more than 15 years’ experience in equity research and investments. Prior to joining KASB, Ali was a Partner at Autonomous Research in London (now a part of Alliance Bernstein), where he led equity research of European Fintech companies. Before Autonomous, Ali was the CFO and Board Director of SafeCharge Group (LSE: SCH LN), a global payments company listed on the London Stock Exchange. He has been a top-ranked Technology Analyst in Europe at Berenberg and UBS. Ali is an alumnus of Georgetown Leadership Seminar and the University of Oxford, where he was a Rhodes Scholar. He is also a Patron of the British Pakistan Foundation and a member of the Business and Entrepreneur Forum of the UK Conservative Party.

Ali Farid Khwaja Chairman

Mahmood Ali Shah Bukhari is a graduate of University of Waterloo, Canada and he is a serial entrepreneur with over 11 years of experience. He has held various top management positions in KASB Group including MD of KASB Modaraba. He also serves on the board of Sialkot International Airport and the Mena Regional Board of YPO. He was recently awarded the Best CEO Award by Asia Finance.u003cbru003eu003cbru003eFurthermore, he has received professional training in various Asset Management, Investment Analysis, Core Banking and Brokerage at leading companies such as Citi Group, Tikehau Capital and Stanhope Capital. He has also participated in various. Leadership courses organized by Harvard University, USA and IMD in Switzerland.

Mahmood Ali Shah Bukhari Chief Executive Officer (CEO)

Mariam Farid Khwaja is an Advocate of High Courts and is based in the Islamabad office. She holds an LLB(Hons) degree from the University of London. Mariam has experience in Media, Intellectual Property Rights, Digital Media, Regulatory Affairs, financial, commercial, constitutional, banking and tax matters in Pakistan. In Pakistan she has worked with major commercial practitioners of the country like Kamran Sheikh Law Associates. Mariam, being the legal Manager of a Private Limited Company, was involved in acquiring Pakistan’s first ever Direct to Home (PayTV) licence awarded by PEMRA.

Mariam Farid KhwajaAdvocate Mariam Farid, Managing Partner Farid u0026amp; Farid Law Firm

Sadaf has nearly two decades of experience driving social change for Pakistani youth, working with leading organizations such as LUMS, Generation You Employed, Acumen, and The Citizens Foundation. She is the co-founder of Codeschool.pk a coding literacy startup that won the Stanford SEED Spark award in Jan 2022. She has an undergraduate degree in computer science and math, and an MBA from LUMS, where she received a gold medal for first place overall.

Sadaf RehmanCofounder, Code School Pakistan

Faisal is the Founder of Zayn Capital, a leading VC and BitRate Digital Assets, a Crypto Fund. Faisal has an MBA from Oxford University, joint Bachelor’s and Master’s degrees from Michigan State University USA. He has also been an investor in Hedge Funds, Venture Capital Funds and an active Angel Investor for over 15 years. Faisal is a limited partner of the Silicon Valley-based Venture Capital Fund 500 Startups.

Faisal AftabCo-Founder u0026amp; GP at Zayn Capital

Board of Advisory

Sardar Ahmed Durrani is a Principal of Investments at the Osiris Group LLC, a private equity firm based out of Hong Kong. He is the Food and Agriculture sector head for Asia, as well as the country lead for Pakistan. In his role he oversees impact investments the firm makes in the frontier markets of Asia. The funds of the firm are focused on the high growth national priority transformative sectors in frontier Asia; which include Bangladesh, Pakistan, Sri Lanka and Myanmar as the portfolio countries.

Sardar Ahmed DurraniPrincipal of Investments, Osiris Capital, Hong Kong

Jonathan is a co-founder/partner of TTB. He has 25 years’ experience in the financial services industry, latterly running Bond Ventures, a Hong Kong based family office specializing in global venture and private equity investments.u003cbru003eJonathan started his career at Merrill Lynch and has worked in fund management as Partner and Managing Director at two hedge funds ranging in size from US$200-800mln. Over the last decade, Jonathan has spent his time offering strategic advice to Chinese companies, both public and private, on their overseas strategies.u003cbru003eHe was born in Asia and has spent the majority of his life between Hong Kong, UK and the USA. Jonathan was educated at Ton bridge School, Kent and Durham University in England. He also sits on the Venture Investors Alliance of HK.

Jonathan BondPrincipal of Investments, Osiris Capital, Hong Kong

Auditor

Auditor: BDO Ebrahim & Co. Chartered Accountants

Phone: (+92)-21-35671909

Address: Lakson Square Building No. 1, 9the Floor, Block C Sarwar Shaheed Rd, Civil Lines, Karachi, Karachi City, Sindh 74200
SBP/ICAP Rating of Statutory and NCB auditors: A

Legal Advisor

Legal Advisor: Mr. Sufiyan Zaman Advocate

Phone: (+92)-21-35873221 , (+92)-21-35873222
Fax: (+92)-21-35873222

Address: Bar-at-Law, F-66/3, Park Lane,Block-5,
Clifton,Karachi-75600

Key Management

Ali Farid KhwajaChairman

Mahmood Ali Shah BukhariChief Executive Officer (CEO)

Mr. Muzaffar Iqbal is the CFO & Company Secretary of KTrade Securities Limited (formerly known as Khadim Ali Shah Bukhari Securities Limited) Limited with wide experience of over 12 years in financial sectors. Prior to joining KTrade Securities Limited (formerly known as Khadim Ali Shah Bukhari Securities Limited) (Pvt) Ltd, Muzaffar served as Head of Compliance and Head of Internal Audit in Topline for three years. He also served First Women Bank Limited as Regional Head of Audit for three years. Prior to that he served as a Supervisor and Associate in BDO Ebrahim u0026amp; Co Chartered Accountants. Muzaffar is a member of Institute of Internal Control (CICA) and Certified Fraud Examiner (CFrA) and also a CA finalist at ICAP.

Muzaffar IqbalCompany Secretary & CFO

Detail of Associated Companies

BLOCKTECH LIMITED

Address: 3rd floor, Bukhari Tower, 16-C, Main
Khayaban-e-Bukhari, Phase VI, DHA, Karachi.

MANAGEMENT RATING

BROKER MANAGEMENT RATING

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SIGNED Press Release

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CREDIT RATING

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SIGNED Press Release

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Business Services

EQUITIES

FOREX

COMMODITIES

VARSITY

TRADING TITANS

Legal Advisor: Mr. Sufiyan Zaman Advocate
Phone: (+92)-21-35873221-2 | Fax: (+92)-21-35873223
Address: Bar-at-Law, F-66/3, Park Lane,Block-5,
Clifton,Karachi-75600

Code of Corporate

All securities brokers shall ensure compliance with the following Corporate Governance Code. The listed securities brokers shall ensure compliance with this
Code in addition to the Code of Corporate Governance (CCG) applicable on listed companies as specified in the regulations of the securities exchange. In case where there is any inconsistency with
the CCG, the provisions of the CCG shall prevail.

1. Board of Directors

1. A securities broker shall establish an effective board of directors (board), responsible for ensuring long¬term success and for monitoring and evaluating the management’s performance. The size and composition of the board should reflect the scale and complexity of the securities brokers’ business.
2. The Board is encouraged to have a balance of executive and non-executive directors, with the requisite skills, competence, knowledge and experience.

2. Responsibilities, powers and functions of board of directors

1.The board should set the strategic objectives and ensure that necessary financial and human resources are in place for meeting those objectives. The board shall further ensure that significant policies have been formulated on the following issues, among others:
a. governance, risk management and compliance issues;
b. customer relations including customer awareness and a mechanism and timeline tier handling/resolving their complaints/grievances; and
c. segregation of customer assets from securities brokers’ assets. Board shall formulate and ensure adoption of a code of conduct/code of ethics to promote integrity of its business, its board, its employees and its accredited representatives, with special emphasis on measures for curbing any market manipulative activities such as front running, insider trading and other market abuse.

2.The board shall devise an effective whistle-blower mechanism enabling all stakeholders, including employees and accredited representatives, to freely communicate their concerns about any illegal or unethical practitioners. The board would ensure that the interest of a whistle-blower is not prejudicially affected.
3.The board shall appoint a Chief Executive Officer (CEO) to lead the management team, and exercise executive authority over operations of the company.
4.Any casual vacancy occurring on the board shall be intimated immediately to the securities exchange. The board shall strive to fill such vacancy on the board as soon as possible. The board is encouraged to obtain fidelity insurance against risk of misconduct, negligence or frauds committed by the officials of securities brokers.

3. Meetings of the board

1.The board should set the strategic objectives and ensure that necessary financial and human resources are in place for meeting those objectives. The board shall further ensure that significant policies have been formulated on the following issues, among others: The board shall meet at least once in every six months and be provided with appropriate and timely information provided that a securities broker licensed under the Trading Only category may comply with the above requirement on a voluntary basis.
2.The board shall ensure that the minutes of meetings of the board are appropriately recorded.
3.Segregation of customer assets from securities brokers’ assets.

4. Committees of the board

1.The board may define in writing the terms of reference of the various committees, explaining their role and the advisory authority delegated to them by the board. These terms of reference may be reviewed by the board on a periodic basis.
2.The board is encouraged to form an audit committee which should preferably be constituted of independent/non-executive directors. At least one member of the audit committee, where formed, should have relevant financial/accountancy qualification/experience
3.The main responsibilities of the audit committee may include the following:
a.The board shall meet at least once in every six months and be provided with appropriate and timely information provided that a securities broker licensed under the Trading Only category may comply we above requirement on a voluntary basis.
b.The board shall ensure that the minutes of meetings of the board are appropriately recorded.
c.Segregation of customer assets from securities brokers’ assets.

5. Appointment of senior management officers

Securities brokers shall have an appropriate and suitably qualified management team commensurate with the size and complexity of its business.

a.Securities brokers are encouraged to make efforts to familiarize their directors with this Code, other applicable laws, and their duties and responsibilities
b.Securities brokers shall ensure compliance of its directors with any mandatory certification requirements as may be specified by the Commission from time to time

A securities broker shall have its statutory audit conducted from an auditor enlisted within Category “A” or “B” of the State Bank of Pakistan’s Panel of Auditors.

Related party transactions

Not later than four months from the close of the financial year, all securities brokers shall prepare and circulate an Annual Report to the Commission and the securities exchange. The Annual Report shall contain the following:

Annual audited financial statements
Directors’ Report
A statement by the CEO that there are no transactions entered into by the broker during the year which are fraudulent, illegal or in violation of any securities market laws.

The quarterly and annual financial statements shall be approved by the board and the CEO. Provided that a securities broker licensed under the Trading Only category may comply with the above requirement in respect of quarterly financial statements on a voluntary basis.
The directors may annex statements to the following effect with the Directors’ Report, prepared under Section 236 of the Ordinance:
1. The financial statements, prepared by the management of the company, present its state of affairs fairly, the result of its operations, cash flows and changes in equity
2. Proper books of accounts of the company have been maintained
3. Appropriate accounting policies have been consistently applied in preparation of financial statements and accounting estimates are based on reasonable and prudent judgment;
4. International Financial Reporting Standards, as applicable in Pakistan, have been followed in preparation of financial statements and any departures therefrom have been adequately disclosed and explained;
5. The system of internal control is sound in design and has been effectively implemented and monitored.
6. If the brokerage house is not considered to be a going concern, the fact along with the reasons shall be disclosed
7. The directors’ report shall cover, loans, TFCs, Sukuks or any other debt instruments in which the company is in default or likely to default. There shall be a clear presentation with details as to the aggregate amount of the debt overdue or likely to become overdue and the reasons for the default/emerging default situation and the measures taken by the company to address and settle such default situation