Shahid Ghaffar has been elected as the new chairman of Mutual Funds Association of Pakistan (Mufap). The new board of directors of Mufap, in its first meeting also elected Dr Amjad Waheed as vice chairman of the association. According to a press release issued by Mufap, the members of Mufap elected new directors on the board of directors of the association against the vacancies arising from the rotational retirement of some of the directors. The Directors of Mufap for the year 2010-11 consist are Shahid Ghaffar (Chairman), Dr Amjad Waheed (Vice Chairman), Babar Ali Lakhani, Farid Ahmed Khan, Mir Adil Rasheed, Ms Maheen Rahman, Mohammad Habib-ur-Rehman, Mohammad Shoaib, Nasim Beg, Rashid Mansur, Wazir Ali Khoja, Yasir Qadri and Shamshad Nabi. The newly elected chairman Shahid Ghaffar holds MBA degree from Gomal University. He is the Chief Executive Officer of HBL Asset Management Limited.