Chittagong Stock Exchange (CSE) yesterday elected four directors from six contestants. This is the first election after the demutualised stock exchange.
The elected directors are Mirza Salman Ispahani of Ispahani Securuties, Khairul Anam of Lanka Bangla Securuties, Mohammad Mohiuddin of Island Securities and Shamsul Islam of Berich Securities.
Ispahani bagged the highest number of 92 votes, followed by Anam 86 votes, Mohiuddin 58 votes and Islam 57 votes. Chairman of the CSE will be elected from its seven independent directors approved by Bangladesh Securities and Exchange Commission earlier.
The BSEC on Thursday picked seven independent directors for the Chittagong Stock Exchange from a list submitted by the CSE.
The regulator selected former NBR chairman Abdul Majid, Chittagong University professor Ayub Islam, former CSE director Moinul Islam Mahmud, former Bangladesh Garment Manufacturers and Exporters Association president Md Shafiul Islam Mohiuddin, BGMEA first vice-president Nasiruddin Ahmed Chowdhury, Institute of Chartered Accountants Bangladesh president Showkat Hossain and former ICMAB chairman Momtaz Uddin Ahmed.
The new board will be comprised of 13 members, four from its existing shareholders, seven from independent directors, CSE chief executive officer and one from strategic investor, according to the Demutualisation Act 2013.
