Muhammad Iqbal Usman


Muhammad Iqbal is one of the founding partners of BMA Capital Management Limited and has represented the company on the Board of Directors of the Karachi Stock Exchange. He has run a successful tax and accountancy firm. He has vast experience in the stock market, both as an investor and adviser to stockbrokers and financial institutions.

In addition, he has considerable experience in underwriting of public issues, company flotation, stock valuation and financial consultancy. He is serving as Director on the board of Al-Abbas Sugar Mills Limited, ACME Mills Limited and Suraj Cotton Mills Limited and was the Chief Executive of Security Stock Fund Limited. He has over 40 years of experience in Pakistan’s capital markets.

Mr. Iqbal is a Chartered Accountant.


Muddassar M. Malik


Muddassar is one of the founding partners of BMA Capital Management Limited. He has acted as the Chief Executive Officer of BMA Funds, a wholly owned asset management subsidiary of BMA Capital and was also a member of the Executive Management Committee responsible for the overall strategy for the BMA Group. Prior to this, Muddassar built and managed the equities business for the firm including domestic and international sales and research and has been involved in landmark capital market transactions helping BMA hold the No. 1 position in privatization advisory. Muddassar holds an MBA in Finance and Corporate Strategy from the MIT Sloan School of Management (1991). He also holds Bachelor’s degree in Economics (1986) and a Masters degree in Political Economy from the London School of Economics and Political Science (1987)


Zouhair Abdul Khaliq


Zouhair is an international executive with broad experience in board level strategy, operations, M&A, start-ups, restructuring, turnarounds, corporate finance, telecommunications, mobile financial services and other mobile related services. He was until recently the Managing Director, Mobile for Development, GSMA, UK working on the development of eco-systems around mobile financial services, mUtilities, mHealth and mWomen. Zouhair has over the last 30 years held executive positions with the Dhabi Group, Orascom Telecom Holdings, Motorola UK, Millicom International, the ICI Group and PWC. He has led group level initiatives in mobile commerce, infrastructure sharing, off grid energy solutions, restructuring of Group debt of over US$1.8 billion, restructured a mobile company valued at US$1.0 billion, carved out and prepared a W-imax business for sale and grown a mobile operator from a customer base of 1 million to over 31 million over 5 years, with revenues of over US$ 1.3 billion.

He has led mobile operator launches in Egypt, Algeria, Tunisia, Jordan and Pakistan. He has served on the Boards of mobile operations in Algeria, Tunisia, Egypt, Pakistan, Bangladesh and Jordan. He has also served on the Boards of the Islamabad Stock Exchange and a Telecom R&D Fund. He is a member of the Institute of Chartered Accountants in England and Wales and an alumni of INSEAD, France. He currently serves on the Board of Regents of Harris Manchester College, Oxford University, is Senior Advisor to the Better Than Cash Alliance, UNCDF, an Advisor at and an Advisor on the Board of Techpolis, an international telecom consultancy and on the Advisory Board of Field Force LLC.


Salim Khan


Salim Khan is the Chief Executive Officer at Hussain Consulting, catering to a diversified client base. He is mainly responsible for strategic human resource consultancy. Prior to this, Salim worked with ICI Pakistan Limited in the sphere of Corporate HR, Organizational Development and a Trainer. Salim holds a Bachelor of Science with Honours in Mechanical Engineering from the California Institute of Technology. He also holds a Bachelor of Arts with honours from Occidental College.


Chief Executive Officer

Khaldoon has over 12 years of rich and varied experience in Financial Services. Prior to joining BMA Funds, he was associated with JS Investments Limited and KASB Funds Limited as a Chief Investment Officer (CIO) and Chief Executive Officer (CEO). He has also worked with TAIB Bank BSC – Bahrain, as a managing director of their brokerage, asset management, custody and advisory operation. He has also been associated with the research and trading departments of AKD Securities Limited and PICIC Asset Management Company Limited.

He has represented strategic and non-strategic shareholders as a director, in a number of different regulated entities.

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