Home ›› 25 May 2022 ›› Stock
The Bangladesh Securities and Exchange Commission (BSEC) on Monday approved the appointment of a new managing director for the Chittagong Stock Exchange Limited (CSE) for a three-year term.
The approval was given at a commission meeting presided over by BSEC Chairman Shibli Rubayat Ul Islam at its headquarters.
Shawkat Hossain, former Secretary-General of Venture Capital and Private Equity Association of Bangladesh (VCPEAB), will join the CSE as managing director. He was also worked as managing director of the BD Venture Limited.
Earlier, the board of directors’ of the bourse approved the appointments and sent the name to the securities regulator for approval.
Earlier, in April this year, BSEC asked the Chittagong Stock Exchange to submit a work plan for recruiting its managing director within seven working days.
The letter was issued as the CSE managing director post had been vacant since September last year when its Managing Director Mamun-Ur-Rashid was sacked.
"You are instructed to submit a work plan to ensure the appointment of a competent CSE managing director within seven working days of receipt of the letter," said the BSEC.
The BSEC first asked CSE on February 22 this year to appoint the top boss within a month. Later, the deadline was extended by two months in response to the request of CSE.
The disagreement between the management and the shareholders was the result of the removal of Mamun-Ur-Rashid, according to CSE officials.
After the demutualisation of the stock exchange, the MD and chairman posts were created. Earlier, the CSE sent Mamun-Ur-Rashid on a one-month forced leave on September 19.
