About Us - Governance

Board Of Directors

Shaikh Mohammad Muneer

Chairman

Shaikh Mohammad Muneer is the Chairman of Din Textile Mills Limited (Din Group of Companies). He also holds the position as Vice Chairman of MCB Bank Ltd, CEO of Trade Development Authority of Pakistan, President of India-Pakistan Chamber of Commerce & Industry (IPCCI), Patron-in-Chief of Korangi Association of Trade & Industry (KATI) and Patron-in-Chief of Friends of Burns Centre, Civil Hospital. He is also the Chairman of Chiniot Anjuman-e-Islamia, running various schools/colleges/hospitals and maternity homes & also involved in many other social and welfare activities across the globe.

Under his dynamic leadership and missionary zeal Din Group has been awarded various Best Export Performance Trophies by FPCCI for its highest exports and has also been awarded twice Top 25 Companies Award of the Karachi Stock Exchange by the Prime Minister of Pakistan. He has been awarded Best Business Man of the year award by FPCCI, “SITARA-I-ISAAR” in 2006 and “SITARA-I-IMTIAZ” in 2007 by the President of Pakistan. He has been awarded twice the Degree of Doctorate of Philosophy, by Governor of Sindh Pakistan. He has also been awarded Life Time Achievement Award by then President of Pakistan Mr. Asif Ali Zardari in the President House on 27/08/2012

 

He has been the Chairman of All Pakistan Tanners Association for 7 terms, The Chairman of Korangi Association of Trade and Industry for Two Terms, and has been President of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) & Vice Chairman MCB Bank Ltd.

Additional current holding position:

  • Fatimid Foundation, Board of Governors of College of Business Management (CBM) Karachi. 
  • Board of Governors of Greenwich University, Karachi.
  • Board of Governors of Kidney Centre of Post Graduate Training Institute. Karachi
  • Board of Governors of Nazeer Husain University, Karachi

  • World Hypertension League
  • Board of Governors of Professional Education Foundation.
  • Board of Governors of Shaukat Khanum Memorial Trust, Lahore
  • “The Legend Trust” under Chairmanship of Governor of Sindh since 7-11-2006. The job of this Trust is to help the re- known artists for their grievances.
  • Board of Make-A-Wish Foundation International USA.
  • Chief Executive Officer of Trade Development Authority of Pakistan ( TDAP).

 

Shaikh Mohammad Pervez

Director

Shaikh Mohammad Pervez is the Non Executive Director of Din Textile Mills Limited. (Unit of Din Group of Companies) After completion his academic life, he joined his family business in 1971. He has played a vital role in the growth and success of the Group. He is actively engaged in many social and welfare projects which are running for the cause of humanity and are helping the needy and poor people. In recognition to his social and welfare services in the Country, he has been appointed as Justice of Peace Karachi Division by Government of Sindh. He is also member of  Patient Behbood Society, Agha Khan University Hospital, Karachi.

 

Shaikh Muhammad Tanveer

Chief Executive 

Shaikh Muhammad Tanveer is the Executive Director of Din Textile Mills Limited. (Unit of Din Group of Companies ) After joining as Director of Din Textile Mills his contribution in the growth of company's business is remarkable. He has also visited many countries of the World as individual businessmen and also together with business delegates, as a member or as a leader of the delegation.

 

He is the Chairman of Punjab Industrial Estate (PIE), and actively involved in various Business and industrial Development projects of the Govt. of Punjab.

 

He is  Chairman of All Pakistan Textile Mills Association ( Punjab Zone )(APTMA ). In his tenor APTMA achieved remarkable milestones for the Development of Textile Sector in Pakistan.

He is also got certification as Certified Director (as required by Code of Corporate Governance issued by the Security and exchange commission of Pakistan) in 2015 under Director Training Program held by Institute of Chartered Accountants of Pakistan.

 

Shaikh Mohammad Naveed

Director

Shaikh Mohammad Naveed is the Executive Director of Din Textile Mills Ltd. (unit of  Din Group of Companies).

He is Graduate from Boston University (BU), USA. in Bachelor of Science in Business Administration (BSBA) and Bachelor of Arts in Economic( BA Econ) . He is a Qualified ISO-9000 Auditor from International Registrar of Certified Auditors (IRCA) & Microsoft Certified Professional (MCP).

Being a Director of Din Textile Mills Ltd., his prime responsibility is to take care of the Balancing/ Modernization of Textile spinning, Dyeing, Power plants and procurement of the company to meet high quality standard of the products.

 

Mr. Faisal Jawed

Director

Mr. Faisal Jawed is the Executive Director of Din Textile Mills Ltd. (unit of Din Group of Companies.) He is Graduate of Business Administration (BBA MARKETING). Being learned personality, he is regularly participating in different Business and Administration oriented courses held by LUMS and other leading business Institutions. He has vast experience in the field of marketing and having Good negotiation skills. Being a Director of Din Textile Mills Limited, he is involve in procurement of Material like cotton and other man made fibers like Lycra® etc.

 

Having  good skills of operational and office management, he plays a strategic role in business's operation and management to improve the over all productivity and profitability of the Company.

He is also got certification as Certified Director (as required by Code of Corporate Governance issued by the Security and exchange commission of Pakistan) in 2014 under Director Training Program held by Institute of Chartered Accountants of Pakistan.

 

Mr. Farhad Shaikh Mohammad

Director

Mr. Farhad Shaikh Mohammad is the Non Executive Director of Din Textile Mills Ltd. (Din Group of Companies). He is a finance graduate and has conducted various courses such as Corporate Governance Leadership and Corporate Finance Management. He has been invited as guest speaker at many universities and conferences. Being a Director of Din Textile Mills Ltd., and having vast experience in the field of finance and accounts. He is engaged in the matters of finance and accounts of the Din Group of Industries. He is also actively involved in philanthropy.

In addition to the above, he is also;-

  • Director of Din Leather (Pvt) Limited.
  • Director of Din Energy Limited.
  • Director of Din Power Limited.
  • Director of Fauji Fertilizer Company Limited.
  • Justice of Peace (Karachi Division), appointed by Government of Sindh.
  • Vice Chairman of “Law & Order” Committee Korangi Association of Trade & Industry. (KATI) Karachi. 

 

Mr. Abdul Razzak Tar Muhammad

Director

Mr. Abdul Razzak Tarmuhammad is as independent Director of Din Textile Mills Limited. After completion his academic life he joined his family business in 1991. It is expected that he will play a success role in the growth and success of the company. He also participate in many social and welfare activities and he is a member of Trade bodies like Korangi Association of Trade and Industry etc.

Board Of Directors Committees

1-  AUDIT COMMITTEE

 

The Board has set up an independent audit function headed by a qualified and full time employee of the company reporting to the chairman. The Scope of Internal auditing within the Company is clearly defined in compliance of Clause (XXIV) of Code of Corporate Governance 2012.

 

A strong control environment and established internal control framework exists in the company comprising clear structures, segregation of duties, authorization limits for the Company officials for operating bank accounts and approving expenditures, well-define polices and procedure and budgeting and review processes to reduce the risk of undetected error / fraud and limit opportunities for misappropriation of assets or concealment of intentional misstatements.

 

The audit committee is a committee comprising Board of Directors that assists the board in a manner provided in the Code of Corporate Governance issued by SECP and forming part of the Listing Regulations of the Stock Exchanges in Pakistan. The audit committee of Din Textile Mills Ltd. comprises of the majority of   non Executive Directors one of them  is chairman of the committee.

 

Committee of Din Textile Mills Ltd. comprises of  the following :

 

1 Mr. Abdul Razzak Tarmuhammad (Independent / Non-Executive Director ) Chairman
2 Shaikh Mohammad Pervez (Non-Executive Director ) Member
3 Mr. Farhad Shaikh Mohammad (Non-Executive Director ) Member
4 Mr. Islam Ahmed   Secretary

 

  Name of Director Total No. of Meeting Meeting Attend
1 Mr. Abdul Razzak Tarmuhammad 4 4
2 Shaikh Mohammad Pervez 4 3
3 Mr. Farhad Shaikh Mohammad 4 4

 

The terms of reference of the audit committee shall also include the following: 

 

I. The Audit Committee shall, inter alia, recommend to the Board of Directors the appointment of external auditors, their removal, audit fees, the provision by the external auditors of any service to the company in addition to audit of its financial statements.

II. Determination of appropriate measures to safeguard the  company’s assets; 

III. Review of quarterly, half-yearly and annual financial statements of the  company, prior to their approval by the Board of Directors, focusing on:

    > Major judgmental areas; 

    > Significant adjustments resulting from the audit;

    > The going concern assumption; 

    > Any changes in accounting policies and practices;

    > Compliance with applicable accounting standards; 

    > Compliance with listing regulations and other statutory and regulatory requirements; and

    > Significant related party transactions.

IV. Review of preliminary announcements of results prior to publication; 

V. Facilitating the external audit and discussion with external auditors of major observations arising from interim and final audits and any matter that the auditors may wish to highlight (in the absence of management, where necessary); 

VI. Review of management letter issued by external auditors and management’s response thereto;

VII. Ensuring coordination between the internal and external auditors of the  company;

VIII. Review of the scope and extent of internal audit and ensuring that the internal audit function has adequate resources and is appropriately placed within the  company;

IX. Consideration of major findings of internal investigations of activities characterized by fraud, corruption and abuse of power and management's response thereto; 

X. Ascertaining that the internal control systems including financial and operational controls, accounting systems for timely and appropriate recording of purchases and sales, receipts and payments, assets and liabilities and the reporting structure are adequate and effective;

XI. Review of the company’s statement on internal control systems prior to endorsement by the Board of Directors and internal audit reports;

XII. Instituting special projects, value for money studies or other investigations on any matter specified by the Board of Directors, in consultation with the CEO and to consider remittance of any matter to the external auditors or to any other external body;  

XIII. Determination of compliance with relevant statutory requirements; 

XIV. Monitoring compliance with the best practices of corporate governance and identification of significant violations thereof; and 

XV. Consideration of any other issue or matter as may be assigned by the Board of Directors.

 

 

2- HUMAN RESOURCE AND REMUNERATION COMMITTEE ( HR & R )

 

Human Resource and Remuneration (HR&R;) Committee have three members comprising a majority of non-executive directors Including Chairman of the Committee.

 

1 Shaikh Mohammad Pervez (Non-Executive Director ) Chairman
2 Shaikh Muhammad Tanveer (Executive Director ) Member
3 Mr. Abdul Razzak Tarmuhammad (Independent / Non-Executive Director ) Member
4 Mr. Amir Riaz Qureshi
Secretary

 

  Name of Director Total No. of Meeting Meeting Attend
1 Shaikh Mohammad Pervez 2 2
2 Shaikh Muhammad Tanveer 2 2
3 Mr. Abdul Razzak Tarmuhammad 2 2

 

The terms of reference of  the HR & R committee shall also include the following:

 

I. Recommending human resource management policies to the board;

II. Recommending to the board the selection, evaluation, compensation (including retirement benefits) and succession planning of the CEO.

III. Recommending to the board the selection, evaluation, compensation (including retirement benefits) of COO, CFO, Company Secretary and Head of Internal Audit; and

IV. Consideration and approval on recommendations of CEO on such matters for key management positions who report directly to CEO or COO.

 

 

 

OUR CORE VALUES

Several features which have contributed to our growth and reputation include the exceedingly professional, high quality textile products for the various manufacturing companies. Out of all the factors, the most significant is our unwavering commitment to our Core Values. Our plans, and approach towards the market, changes in accordance with the varying market conditions. Din’s Core values will prove to be consistent to overcome future challenges.   

Customer Orientation and Satisfaction

To achieve success, we believe in listing our customers and considering their needs. 

Everything we do encompasses the fact that our customers remain satisfied in all aspects. 

Responsiveness with Excellence

We strive for superior quality, even with the smallest task assigned. We are responsive to our customers, prospects and partners, separating Core Matrix from our competitors.

Integrity and Honesty

Core matrix is intolerant towards any legal or ethical breaches. We believe in the highest level of integrity, sincerity and honesty.

Exceeding Expectation with Team Work

In order to exceed the expectations of our customers, we respect each individual by contributing equally to the success of each effort laid.  

Professionalism and Respect

Professionalism and Courtesy has always been the prior concern of our code of conduct.

Communication

In order to achieve positive outcomes, we believe in being open and honest with the give-and-take with customers, partners and peers.

Result Oriented

Core matrix must address each challenge with a "result-oriented" approach, and focus on the solution of the problems that arise. 

Quality

Commitment and dedication can be observed with all that we do from emails, to proposals, to customer documents and meetings, to the phone calls, as well as training sessions. 

Entrepreneurship

There is passion and the ability to observe greater opportunities in every task we undertake.

 

CODE OF ETHICS

Policy Statement

The core values of Din Textile Mills Ltd. which are the vital part of our Success, Integrity, Honesty, Professionalism and Respect in all our business practices; are backed up by the creativity &  passion of  our   people.

The loyalty and confidence in our products and services is because of our solemnity in our business relations with our Customers, Suppliers, Shareholders, Regulatory Agencies and the community as general. This is only possible because of the leaders at Din Textile who consider all this their one of the prime responsibility of setting example through personal performances and excellent attitudes to convey the ethical values to each Individual at Din Textile Mills Ltd

For retaining our glory and reputation, an uncompromising adherence to ethical excellence is integral for sustaining and creating the necessary strong foundation on which Din Textile had & can ‘Grow and Prosper!’ People at Din Textile today and in future, must be aware of and contribute for the high achieving standards required in all our business practices.

Scope

The Board of Directors on the whole is responsible for the appliance of ethical business practices and principles, which is applicable to every individual of Din Textile Mills Ltd. The word ‘Individual’ refers to you and your use in this code includes all employees and officers.

Principles: 

1. Din's Commitment to Its People 

Share ownership 

The key objective of Din Textile is to ensure its people are able to share the value which they helped to create. This is achieved through the promotion of staff share owners hip.

Equal Opportunities 

Din Textile values the Individuality, Diversity and Creative potential that every individual brings to its business.  All employees are treated with equal respect and dignity and are provided with equality of opportunity to develop themselves and their careers. We want to attract, develop and motivate the best people. We are creating a working environment that is open, honest and unprejudiced, which encourages people to achieve their full potential. We value people      Individuality and team contributions and offer opportunities to share in the company commercial success.

Employment, Discrimination and Harassment:

Din Textile policy is to respect the human rights of all individuals compiling with National Laws considering working hours and good compensation. Din Textile enforces strict prohibition on the use of forced or child labor. 

To Din Textile the harassment or discrimination of any individual is unacceptable. In particular, sexual and racial discrimination or harassment is totally unacceptable.

Human Capital Administrators & Managers are required to take account of  the core International Labor Organization conventions and strive to observe the United Nation Declarations on human rights, for a  guaranteed respected if the individual at Din Textile. What needs to be observed in particular is as follow:

“Universal respect for an observance of human rights and fundamental freedom for all without any discrimination. We remunerate fairly with respect to skill, performance, our peers and local conditions.”

2. What Din Textile requires of its people

Compliance With Laws 

Din Textile, with its individuals, must comply with the laws and regulations of any country in which it is operating business. The policy applies without any exceptions. Particular areas to be noted here control the competition aspect, along with the communication laws. These concern safety, health and the environment as well. It is the responsibility of Din’s individuals to ensure, by taking appropriate advice by making them aware of all the relevant local laws.

Din Textile complies with the Listing, the Prospectus, and the Disclosure and Transparency Rules.

Security of Information 

Information generated within the organization including computer programs, is the property of Din Textile, and should not be disclosed without proper authority and authentication unless legally required.

Use of Information for personal gain 

Individuals must not use confidential information obtained during their employment in Din Textile for personal gains. Individuals responsible for maintaining the secrecy and confidentiality of the sensitive and unpublished data and information of Din Textile must not provide that to any other individual outside the organization. The organization has enforced a strict share dealing code which prohibits individuals to trade the information internally.

Bribes 

Bribes are strictly prohibited to or from customers. Din Textile funds must not be used for the payments; direct or indirect, to government officials or individuals of state organizations for any unlawful or improper purpose. 

Political Donations

Financial donations to political parties or for promotion of any political cause are strictly prohibited. Payments or gifts to any individual influencing any political decision for obtaining or retaining Din Textile business, is unacceptable.   

Conflicts of interest 

Individuals of Din Textile must avoid situations in which their personal or financial interests conflicts with those of the Din Textile while dealing with the Customers, Suppliers, Contractors, Competitors, Partners or any individual doing or seeking business from Din Textile. The individuals of Din Textile should act in favor of the group and personal preferences should not be a prior concern. Every Din’s Individual is welcomed for a sound advice whenever they find there selves facing a potential conflict of interest.

This all is not limited to owning shares with business partners, company shares trading, personal or family involvement in commercial transactions with Din Textile; but also includes such activities or owning any interest like borrowing from third party based on the business relationship of Din Textile.

Corporate Reporting and Internal Controls 

It is important for every Din’s individual that all of the official accounts and records must be documented in such a manner that clearly identified and describes the true nature of business transactions, assets or liabilities, and properly and timely classification of the records; so as the entries presented and saved in the records are in conformity with the generally accepted accounting principles. No records, entry or document should be false, distorted, misleading, misdirected, deliberately incomplete or suppressed.

Din Textile strictly adhere the principles of good corporate governance and it is committed to achieve the highest standards of corporate governance. Din Textile maintain effective, transparent  financial reporting and sound internal control system ensuring true and fair performance measurement and compliance with local regulatory requirements and  international accounting standards as applicable.

3.  Din Textile's Commitment with their Competitors 

Din Textile competes enthusiastically but fairly in the operating markets in the true spirit to win the market. Din Textile being honest and trustworthy in all of its dealings had never and will not damage the reputation of competitors either directly or by implication or innuendo.

Din Textile had never and will not attempt to acquire information about a competitor’s business by disreputable means nor will it engage in restrictive trade practices of abuse any position of market dominance.

4.  Din Textile's Commitment with their Customers 

Din Textile had always been and wishes to be our customers' first choice for the excellent quality and efficient services. Relationship based on mutual trust will help us deliver innovative solutions that anticipate and meet our customers' needs.

Din Textile believes that reliability in dealing with customers is a prerequisite for a successful and sustained business relationship with them. In all advertising and other publications from Din Textile untrue, concealment and overstatement had always been and will be avoided.

5.  Din Textile's commitment with their Suppliers 

Din Textile aims to develop and maintain best relationships with its suppliers based on mutual trust and embark on timely and agreed trade terms payments. Din Textile purchasing power must never be used unscrupulously. All of the information regarding the Din Textile and its suppliers must be respected and kept confidential. Din Textile buying decisions are always been a commitment of assurance that whatever material which is purchased for production and procurement, will always be safe for environment. We expect that our suppliers also enforce the same standards of employment, harassment and discrimination policies as like Din Textile.

6.  Din Textile's Commitment with their Shareholders 

Din Textile always communicates its business policies, achievements and prospects with honesty and in accordance with applicable guidelines and regulations. We always strive to create excellent long term value to reward investment. We will always maintain the highest standards of business practices and will be transparent in all our dealings as before.

7.  Din Textile's Commitment with their Local Communities 

Din’s individuals are encouraged for participation in the local communities and civil affairs. We at Din recognize our responsibilities as active members of the communities where ever we operate. Din strongly believes in contribution for the wellbeing of wider communities. Din emphasizes our efforts in community services like education, literacy, healthcare and we will respect the traditions, cultures and heritages. 

8. Din Textile's Commitment to the Environment 

Din Textile has always been given a great importance for protecting the environment in which we all live. We are concerned with the preservation of the environment in its broadest sense and recognize that certain resources are finite and must be used responsibly.

Din Textile believe to provide a clean, safe, healthy and pollution free environment  for all of the individuals who live in and around  Din Textile's  manufacturing sites , by employing such technologies which are beneficial in maintaining and protecting environmental hygiene and health.

9. Implementation of this Statement 

The examples given in this statement are not intended to be comprehensive and Din Textile individuals must endeavor to observe the principles that they embody.

Din Textile reputation depends on effective implementation of policies and it is the responsibility of all managers to ensure that this statement and these policies and their application are communicated, understood and taken seriously by all individuals. Din Textile Management must secure the co-operation of individuals and positively promote these policies by personal example, by clear guidance and by making advice available as appropriate.