2024-09-05 09:56:27
Published: 10:09, 5 September 2024
Bangladesh Securities and Exchange Commission (BSEC) has appointed seven independent directors in the country’s main capital market Dhaka Stock Exchange (DSE). This decision was taken at the 918th commission meeting held under the chairmanship of BSEC Chairman Khandkar Rashed Maqsood on September 1. However, controversy has arisen around the appointment of independent directors. Therefore, DSE Brokers Association of Bangladesh (DBA) demanded BSEC to reconsider the matter.
A letter in this regard has been sent to BSEC Chairman Khandkar Rashed Maqsood on Wednesday (September 4).
Secretary of DBA. Didarul Gani confirmed this information to RisingBD.
According to the letter signed by DBA President Saiful Islam, Dhaka Stock Exchange PLC is a non-listed public company owned by domestic and foreign shareholders. Since the establishment of DSE and BSEC till date individual directors have been single handedly imposed from BSEC. Unfortunately, this is the first time that the DSE board will not have female representation. But a policy decision to maintain at least 20-30 percent women representation has been recognized as an acceptable doctrine and practice in the international corporate world. The recent decision of the BSEC is against the distribution and composition of the proportional rate of men and women in the newly formed advisory councils of our interim government.’
The letter also said, ‘Women participated equally in the recent student-citizen revolution, which brought us victory. It is unfortunate that women’s sacrifices have been undermined by not taking into consideration the participation of women during the formation of the DSE Board from the regulatory body. Not having a professional accountant on the DSE board is contrary to the principles of an effective board. So I expect your good judgment in matters.’
Incidentally, the new independent directors of DSE nominated by BSEC are – Chairman of Maldives Islami Bank KAM Majedur Rahman, Director General of Army Institute of Business Administration – Professor Major General (retd.) Dr. Md. Kamruzzaman, Additional Secretary of the Financial Institutions Department of the Ministry of Finance. Nahid Hossain, Brigadier General of 46 Brigade of Bangladesh Army. Mofizul Islam Rashed, Research Director of Center on Integrated Development for Asia and Pacific (SIRDAP). Md. Helaluddin, former General Manager of Metlife Bangladesh Syed Hammadul Karim and Managing Director and CEO of Bangladesh Data Center and Disaster Recovery Site Limited, Chief Information Security Officer (CISO) Bangladesh Bank (LIEN) Md. Isaac Mia.
Dhaka/NT/Eva