The Bangladesh Securities and Exchange Commission (BSEC) is set to face a quorum crisis for holding meetings as one of the existing two commissioners completes his tenure on Monday.
The BSEC consists of a chairperson and four commissioners. The quorum of the commission meeting requires the minimum presence of its chairman and two commissioners.
Prof Helal Uddin Nizami completes his tenure as a commissioner on Monday, which leaves the BSEC with only a chairman and a commissioner.
As a result, the BSEC will not be able to hold any commission meeting from today until the government fills the vacancies.
Earlier, Swapan Kumar Bala completed his four-year term as a commissioner on April 15 and returned to his original occupation of a professor at Dhaka University.
The tenure of the chairman professor M Khairul Hossain ends on May 14.
He joined the BSEC as its chairman after the stock market collapse in 2010.
After completion of his first three-year tenure, the government reappointed him chairman of the commission for the second term for four years.
Later, the government extended his tenure by two more years.
He is a professor at the Department of Finance at Dhaka University.