Dhaka Stock Exchange (DSE) has elected Md Rakibur Rahman as one of its shareholder directors.
A former DSE president and currently the managing director of Midway Securities Limited, Rakibur bagged 131 votes while his opponent, former director of the bourse and managing director of BLI Securities, only 86 votes, according to the official results.
Of the total 242 voters, 220 cast their votes on the DSE premises in Motijheel yesterday. Three votes were declared invalid.
Rakibur replaced Managing Director of Sahidullah Securities Sharif Anowar Hossain who retired from the 13-member DSE Board this year as per a demutualisation scheme.
The newly elected director will join the board at the DSE’s annual general meeting scheduled on March 24.
A retired High Court judge, Justice Md Abdus Samad, acted as the chairman of the DSE’s election commission. The DSE Board consists of seven independent directors, four shareholder directors, one from strategic investors’ category and another from the bourse’s managing directors, who would have voting rights only for election of the chairman.
Four shareholders were elected directors to the first board of the demutualised DSE in February 2014.
On completion of one year, Md Shakil Rizvi retired as a director in 2015 in line with the demutualisation scheme only to be re-elected.
Two other directors – Khwaja Ghulam Rasul and Mohammad Shahjahan – will retire in 2017.
