The ADFIAP Board has approved the endorsement to the General Assembly of the conferment of honorary membership to Mr. Zaigham Mahmood Rizvi, former Chairman and Director of the House Building Finance Corporation (HBFC) of Pakistan. ADFIAP confers honorary membership to individuals who have performed outstanding services in the field of development banking or who have been closely connected with the profession of development banking and have served ADFIAP for many years.
Mr. Rizvi is a career development finance banker. He has served in many prestigious and frontline development finance institutions (DFIs) in Pakistan and abroad. He is also a very strong advocate of the important role of DFIs in the development processes of developing countries. He has been associated with the ADFIAP for over 20 years where his work received several recognition awards such as the “Outstanding CEO Award” and the “Membership Contribution Award”.
Mr. Rizvi’s notable achievements include the successful turnaround of three leading DFIs in Pakistan, namely: Pak-Libya Holding Company, Pak-Kuwait Investment Company and House Building Finance Corporation. He also played a leading role in the establishment of new joint venture DFIs in Pakistan, namely: Pak-Oman, Pak-Iran and Pak-China Investment Company.
Mr. Rizvi was also one of the founding members of the team which established Oman Development Bank, the first DFI in the Sultanate of Oman. Most of Oman’s industrial development is attributed to the pioneering role of ODB. The shining stars of Muscat securities market were originally promoted and funded by ODB.
Mr. Rizvi has served as the Chairman of the Mutual Funds Association of Pakistan for nearly 10 years and has played a pivotal role in launching a variety of mutual funds in Pakistan’s capital market. He also served on the boards of the Karachi Stock Exchange and the Islamabad Stock Exchange as a nominee director of Security and Exchange Commission of Pakistan (SECP).
He was the Founding Director of Pakistan Institute of Corporate Governance (PICG), an institution established under the guidance of SECP. Mr Rizvi is currently working for the World Bank as a Consultant on housing and housing finance, and is based in Washington, D.C. He is also the Chairman of Takaful Pakistan (an Islamic Insurance Company) and a Director on the Boards of different corporate entities including House Building Finance Corporation of Pakistan.
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