Md Rakibur Rahman is the lone contender in Dhaka Stock Exchange (DSE)’s search for new shareholder directors.
Wednesday was the last day for filing nomination papers, but only Rakibur collected the nomination papers that day, effectively rendering him the only candidate.
The election was slated to be held on January 24 to choose a new shareholder director, in line with the demutualization scheme.
The new director’s name will be announced at the bourse's 57th annual general meeting (AGM) in early next month.
According to the Demutualization Act 2013, the 13-member board of the bourse consists of four from its existing shareholders, seven independent directors, a chief executive officer and one strategic investor.
The demutualization scheme was approved by Bangladesh Securities and Exchange Commission (BSEC) in 2013.
In 2012, a law on demutualization was passed in parliament with a promise to bring transparency and accountability to the stock market.
