2024-08-27 08:32:33
The DSE Brokers Association of Bangladesh (DBA) has recommended restructuring the board of directors of the Dhaka Stock Exchange (DSE) to eliminate discrimination and prioritize the interests of investors.
Last Thursday (August 22) DBA sent a letter to Finance Advisor Salehuddin Ahmed.
DBA Secretary Didarul Gani confirmed this information to RisingBD on Sunday (August 25).
In the letter, it is recommended to reorganize the board of DSE, the board of directors of Dhaka Stock Exchange has 13 members. Out of these 13, 7 independent directors are based on the panel recommended by the DSE Board. We have already come to know that 7 independent directors including DSE chairman have resigned from the post of DSE director. In this context the board functions are logically delegated to 4 elected shareholder directors and DSE ex-officio.
In such circumstances, it is recommended by all the shareholders of DSE, including the existing 4 shareholder directors, to appoint 7 independent directors from among the nominees (President/Chairman) from the following organizations against the vacant posts of 7 directors.
Among them Bangladesh Bank, Deputy Governor, 1 President, Institute of Chartered Accountants of Bangladesh (ICAB) Chartered Financial Accountants (CFA Society)/ Institution of Cost Management of Bangladesh (ICMAB), 1 Policy Member from Income Tax Department, Supreme Court Bar Association/ A Senior Advocate, Dean, Faculty of Commerce, University/ Director, Institute of Business Administration (IBA), President, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), President, Dhaka Chamber of Commerce and Industry (DCCI), President, Metropolitan Chamber of of Commerce and Industry (MCCI), President, Bangladesh Garments Manufacturing and Exporters Association (BGMEA), a military representative of the rank of Brigadier, a woman entrepreneur/professional of CEO rank, a professional with at least 20 years of experience in a multinational company, a veteran NGO/Social Business From a professional of Chief Executive rank, a person of retired senior secretary/secretary rank.
Apart from this, the letter also said that the capital market as a whole has reached the brink of destruction due to the inexperience and short-sightedness of individual directors appointed for political reasons and lack of proper knowledge about the capital market.