Home ›› 24 May 2023 ›› Stock
The securities regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the appointment of two independent directors of the Dhaka Stock Exchange (DSE).
The decision was made in a commission meeting on Tuesday with its Chairman Professor Shibli Rubaiyat-ul-Islam in the chair, said a media statement.
The newly appointed DSE’s independent directors are Md Shaheedul Islam, and Kawser Ahmed.
The appointment was granted in accordance with specific conditions, relevant regulations, and the Dhaka Stock Exchange (Board and Administration) Regulation, the press statement read.
The approval of these independent directors follows the previous announcement made on February 20, where the BSEC had granted the approval for the appointment of four distinguished individuals to serve as independent directors on the new board of the DSE.
The previously appointed four independent directors include Dr Abdullah Al Mahmud, a professor of the Banking and Insurance Department at Dhaka University; Dr Hafiz Md Hasan Babu, the dean of the Faculty of Engineering and Technology at the same university; Md Afzal Hossain, a former secretary on post-retirement leave and former chairman of the Bangladesh Trade and Tariff Commission (BTTC); and Rubaba Dowla, the country managing director for Oracle in Bangladesh, Nepal, and Bhutan.
BSEC retains the authority to revoke the approval of any independent director who fails to comply with the regulations or criteria set forth. This ensures that the board of directors consists of competent and trustworthy individuals who will act in the best interest of the DSE and its stakeholders.
Furthermore, during the same commission meeting, the BSEC approved the draft prospectus of an open-ended fund titled ‘Green Delta Dragon Enhanced Blue Chip Growth Fund’. The initial target for this fund is Tk 50 crore.
Green Delta Insurance Company Limited and Dragon Capital Markets Limited, the entrepreneurs of the fund, have jointly contributed Tk 5 crore, leaving Tk 45 crore available for general investors. The face value per unit of the fund is Tk 10.
The Green Delta Dragon Asset Management Company Limited has been appointed as the asset manager for the fund.
