A total of 131 companies listed on the stock market have failed to appoint women independent directors to their boards of directors within the stipulated time.
The Bangladesh Securities and Exchange Commission (BSEC) has set a final deadline of June 30 for these companies to fulfill this condition.
The agency has said that legal action will be taken against the companies concerned if the instructions are not implemented within the stipulated time.
This information was given in a press release signed by BSEC director and spokesperson Md Abul Kalam on Sunday (May 3).
Earlier, this instruction was given to the secretaries of listed companies that failed to appoint women independent directors in a meeting held at the commission's office in Agargaon in the capital on April 29.
The meeting was presided over by BSEC executive director Md Anwarul Islam.
The release said that according to the Corporate Governance Code, 2018, the appointment of women independent directors to the boards of directors of listed companies is mandatory.
To this end, a call has been made to appoint qualified women from among businessmen, corporate leaders, professionals, university teachers, government employees (retired or working) and lawyers.
It is worth noting that the appointment of a woman independent director was made mandatory according to the revised Corporate Governance Code published in the gazette on April 29, 2024, and a deadline of one year was set for this. Later, this deadline was extended to December 31, 2025.
According to the latest information submitted to the commission by the Dhaka Stock Exchange (DSE), 163 listed companies have already appointed women independent directors to their boards of directors.
However, 131 companies have not yet met this condition.
BSEC says that this initiative has been taken to strengthen corporate governance in the stock market and ensure gender diversity in the boards of directors.
The organization has made it clear that strict action will be taken if the directive is not implemented within the stipulated time.
