H.E. Muhammad Zafar-ul-Haq Hijazi
Federal Tax Ombudsman of Pakistan
Secretary General – OIC Ombudsman Association
H.E. Muhammad Zafar-ul-Haq Hijazi is the Federal Tax Ombudsman of Pakistan, appointed on 3rd December 2025 and concurrently serves as the Secretary General of the Organisation of Islamic Cooperation Ombudsman Association (OICOA) and President of Forum of Pakistan Ombudsman (FPO). He previously served as Chairman of the Securities and Exchange Commission of Pakistan (SECP) from 2014 to 2017, where he spearheaded major regulatory reforms, including the introduction of the landmark Companies Act 2017 and other key corporate and financial sector laws, that strengthened corporate governance and investor protection. He also oversaw the integration of Pakistan’s stock exchanges into a unified Pakistan Stock Exchange (PSX), a move that boosted market performance and helped Pakistan attain emerging market status in global indices while significantly improving compliance with international transparency standards. With a distinguished career spanning decades in public service and financial governance, Mr. Hijazi has been at the forefront of initiatives to strengthen institutional accountability in Pakistan’s financial sector.
In terms of professional affiliations, Mr. Hijazi remains a prominent member of the accounting and finance community. He is a Fellow of ICAP – Pakistan’s national body of chartered accountants, and by virtue of his position has been involved in forums like the South Asian Federation of Accountants (SAFA) and IOSCO’s Emerging Markets Committee meetings during his SECP tenure.
Mr. Zafar ul Haq Hijazi’s career reflects significant contributions to Pakistan’s financial regulatory landscape. As SECP Chairman, he was instrumental in modernizing financial regulation – from merging stock exchanges to updating corporate laws – measures that have had a lasting impact on Pakistan’s capital market development. He worked to enhance investor protection, improve regulatory compliance with international standards, and foster greater market confidence. These efforts contributed to Pakistan’s ability to attract investment (e.g. re-entering MSCI Emerging Markets) and to build a more robust framework for corporate oversight.
In addition to his SECP role, Mr. Hijazi has been involved in broader oversight and advisory capacities. (Notably, after his SECP tenure, he was associated with the Audit Oversight Board (AOB) – a body that supervises audit firms to ensure high-quality financial reporting. Public documents list him as Chairman of the AOB around 2024, indicating his continued engagement in regulatory oversight.) Furthermore, as FTO, he is now contributing to public service by addressing systemic issues in tax administration.
Mr. Hijazi’s work often involved collaboration with other institutions and stakeholders: for example, he partnered with the State Bank on financial stability initiatives and with professional bodies like ICAP on improving standards. He has emphasized the importance of regulator-academia relationships as well, encouraging think-tanks and universities to engage in research that can inform policy. Through such collaborative outlook, he has contributed to a more informed and participatory approach to financial regulation in Pakistan.
Under the leadership of H.E. Muhammad Zafar-ul-Haq Hijazi, the Office of the Federal Tax Ombudsman and the OICOA Secretariat are poised to enter a new era of institutional strength. Drawing on his deep regulatory experience and commitment to public accountability, stakeholders can expect enhanced taxpayer facilitation, proactive grievance redressal, and stronger international collaboration among OIC member states. His tenure is anticipated to bring forward-thinking reforms, digital innovation, and a citizen-centric approach that upholds the principles of justice, equity, and efficient governance in both domestic and multilateral settings.
