KARACHI: Sulaiman S Mehdi, chief executive officer of private equity firmCyan Limited, has been appointed as the new chairman of Pakistan StockExchange – a post left vacant following the removal of Hussain Lawai.
Lawai was removed as the chairman of the Pakistan Stock Exchange earlierthis month on the directives of the Securities and Exchange Commission ofPakistan, following his arrest on money-laundering charges on July 6.Hussai
A case was registered against Lawai by the Federal Investigation Agency inconnection with a mega money-laundering scandal involving Rs35 billion,which is said to implicate a number of politicians, businessmen andbankers.