DSE gets nod to appoint 4 independent directors

The stock regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the appointment of four independent directors on the new board of the Dhaka Stock Exchange (DSE).

The appointment of these individuals was approved for three years in consideration of their expertise, experience, and integrity, according to a BSEC letter sent to the capital bourse Monday.

The newly appointed directors are Dr Abdullah Al Mahmud, professor of the banking and insurance department of the University of Dhaka; Dr Hafiz Md Hasan Babu, dean of the faculty of engineering and technology of the same university; Md Afzal Hossain, former chairman of the Bangladesh Trade and Tariff Commission (BTTC); and Rubaba Dowla, country managing director for Oracle in Bangladesh, Nepal, and Bhutan.

The securities regulator, however, does have the authority to revoke the appointment any of the independent directors if they fail to comply with any of the existing securities regulations or criteria, the regulatory letter read.

The BSEC said this appointment ensures that the DSE board is comprised of efficient and trustworthy individuals who would work in the best interest of the bourse and its stakeholders.