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New managing directors for DSE, CSE okayed

  • Published at 12:31 am January 23rd, 2020
New managing directors for DSE, CSE
Kazi Sanaul Hoq, left, Mamun-Ur-RashidCollected

The approval was given at a commission meeting presided over by BSEC Chairman M Khairul Hossain at its headquarters

Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved the appointments of new managing directors for Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange Limited (CSE) for a three-year term.

The approval was given at a commission meeting presided over by BSEC Chairman M Khairul Hossain at its headquarters.

Kazi Sanaul Hoq, former managing director of state-run Investment Corporation of Bangladesh (ICB), will join the DSE as managing director, while Mamun-Ur-Rashid, former managing director of Standard Bank Limited, will join the CSE.

Earlier, board of directors’ of the bourses approved the appointments and sent the names to the securities regulator for approval.

The post of managing director at the DSE remained vacant since July, 2019. The tenure of the immediate past MD of DSE KAM Majedur Rahman expired on July 11 last year.

On the other hand, the tenure of M Shaifur Rahman Mazumdar, the immediate past MD of CSE, expired on May 3 last year. 

The commission meeting also extended the deadline for keeping the provision against unrealized losses in margin accounts of merchant banks and their clients till December 31, 2022.

Besides, it approved seven independent directors for the Central Counterparty Bangladesh Limited (CCBL) for a three-year term. 

The BSEC on Wednesday also approved drafts of Bangladesh Securities and Exchange Commission (Debt Securities) Rules, 2020. The drafts will be published soon on major dailies and official website of BSEC for feedback.

The regulator also approved draft prospectus of Ekush First Unit Fund (An open-end). The initial size of the fund will be Tk10 crore. The sponsor will contribute Tk1 crore, while remaining Tk9 crore will be collected through sales of units. The face value of the units will be Tk10 each.