Mr. Afzal served as Director on the Boards of Central Depository Company of Pakistan Limited, National Clearing Company of Pakistan Limited, Pakistan Institute of Corporate Governance and JCR-VIS Credit Rating Company Limited. He has also been a Director of Pakistan Mercantile Exchange Limited. He has participated in many national and international institutes on securities markets including institutes organized by US Securities & Exchange Commission. He has been very instrumental in the demutualization of ISE.
Mr. Afzal holds a Masters degree in Economics from Northeastern University of Boston, USA and is also a certified Director from Institute of Cost and Management Accountants of Pakistan.