## 2024-08-08 15:02:42
Economist Dr. Muhammad Yunus is leading the process of forming an interim government in Bangladesh. As part of this process, the Awami League government has cancelled all contractual appointments made during their tenure. This has led to calls for changes in the Bangladesh Securities and Exchange Commission (BSEC), the country’s capital market regulatory body.
BSEC officials and employees argue that political considerations should not influence the appointment of the commission’s chairman or commissioners. They maintain that the commission will operate independently, adhering to existing laws and regulations. While they will have decision-making authority, they also demand that appointments be made from experienced and retired officials, similar to those found at institutions like Bangladesh Bank.
The officers and employees expressed their concerns during a meeting of the BSEC Officers Welfare Association on Wednesday (August 7), which was presided over by the association president and the commission’s executive director, Saifur Rahman.
Executive Director Mohammad Rezaul Karim confirmed the decision made in the meeting regarding operational independence.
Prior to this, the association also resolved that the commission’s officers would refrain from accepting any recommendations or actions that violate their laws and regulations. A total of 9 decisions were taken during the meeting, aimed at reforming the capital market.
Notable among these decisions are:
– Establishing the rule of law to combat corruption in the capital market.
– Empowering officials according to Section 17 of the Securities and Exchange Ordinance 1969.
– Providing quick promotion and medical services to employees.
– Distributing CSR funds to employees and officials.
– Implementing an examination-based promotion system for commission officers and employees.
– Recovering Tk 45 crores from the Investment Corporation of Bangladesh (ICB) in outstanding Time Deposit Receipts (TDRs).
– Investigating the embezzlement of CSR funds.
– Expressing condolences for the victims of the anti-discrimination student movement and praying for the recovery of those injured.
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