Pakistan’s corporate boards need to move beyond traditional compliance responsibilities and take a more active role in addressing economic uncertainty, technological disruption, cybersecurity, sustainability and succession challenges, business leaders and governance experts said at the Pakistan Institute of Corporate Governance Directors’ Summit 2026. Held under the theme “The Showcase: Your Leadership, Your Impact,” the summit brought together more than 350 directors, business leaders, regulators and senior executives to examine how stronger governance and effective leadership can help organisations remain resilient and prepared for changing business conditions.
Pakistan Institute of Corporate Governance Chairman Muhammad Ashraf Bawany said corporate governance is increasingly about building trust, creating sustainable value and strengthening institutions rather than simply fulfilling compliance requirements. He emphasised the role of stronger leadership and capable boards in developing organisations that can withstand uncertainty and contribute to a more resilient economy. Pakistan Institute of Corporate Governance Chief Executive Officer Shafaq Fauzil Azim also addressed participants during the gathering, which included discussions covering the evolving responsibilities of corporate boards.
The summit also paid tribute to the late Dr. Shamshad Akhtar for her leadership and contributions to Pakistan’s economic development, governance and public institutions. Chief Guest Muhammad Ali Tabba, Chairman of Younus Brothers Group, described good governance as a foundation for business rather than simply a cost associated with operating a company. He stressed that governance should become embedded throughout organisations and linked strong institutional practices with the level of trust required for companies to take responsibility for long-term opportunities and challenges.
Pakistan Stock Exchange Chief Executive Officer Farrukh H. Sabzwari highlighted transparency, accountability, market integrity and investor confidence as important elements of effective corporate governance. He also stressed the importance of diversity and greater inclusion at board level. Former Minister for Investment Muhammad Azfar Ahsan focused on policy predictability and strong institutions, while emphasising that boards must be prepared to anticipate changes in economic and regulatory conditions rather than responding only after major shifts have taken place.
A panel discussion on agile boards examined how corporate boards can expand their role in managing geopolitical, supply-chain, economic and climate-related risks. The discussion highlighted scenario planning, resilient capital allocation and stronger decision-making as important tools for boards operating in an environment where risks can emerge across several areas at the same time. Another panel focusing on family legacy examined governance and succession issues within family-owned businesses, including the need to balance established traditions with reinvention, family ownership with professional management, and continuity with merit and inclusion.
Technology was another major focus of the summit, with the Boards Governing Innovation and Technology panel examining the growing responsibilities of directors in overseeing cybersecurity, artificial intelligence and digital transformation. Participants stressed that boards need to understand technology-related risks and ensure that investments in digital capabilities contribute to long-term organisational value. A fireside conversation featuring Narayanan Vaidyanathan of the Association of Chartered Certified Accountants and Zulfikar Causer of BDO also examined artificial intelligence governance, accountability and emerging risks, highlighting the need for boards to actively supervise both the opportunities and potential risks associated with artificial intelligence.
Kabeer Naqvi of Abhi Microfinance Bank discussed governance as an enabler of digital banking innovation and financial inclusion, linking stronger institutional oversight with the development of digital financial services. Zaffar A. Khan, Chairman of the Pakistan Centre for Philanthropy, highlighted governance, leadership and institutional capacity as foundations for the non-profit sector. Dr. Syed Amir Ali, Chief Executive Officer of Meezan Bank Limited, meanwhile discussed the integration of sustainability, governance and innovation into Islamic finance strategies.
In the closing keynote, Hussain Dawood, Chairman of Engro Holdings Limited, emphasised visionary leadership, responsible decision-making, trust and resilience as essential foundations for creating lasting institutional value. The summit concluded with the Pakistan Institute of Corporate Governance Recognition Awards, reinforcing the call for corporate boards to anticipate disruption, challenge established assumptions and make timely decisions aimed at building stronger and more sustainable organisations.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.