Dr Hafiz Muhammad Hasan Babu has been elected as the chairman of the board of the capital bourse, Dhaka Stock Exchange (DSE).
The Dhaka University professor was elected the bourse’s chairman at its 1,054th board meeting held on Sunday, according to a media statement.
Dr Babu will replace the bourse’s current Chairman Md Eunusur Rahman.
He was elected as the chairman of the prime bourse’s board after being approved as one of four DSE’s independent directors by the Bangladesh Securities and Exchange Commission (BSEC) on February 20 last.
The DSE's new board needs to establish a nomination and remuneration committee. The committee nominates at least three candidates for the two remaining positions of independent directors. The tenure of all six previous independent directors ended on February 18.
In 2010, a committee was formed to investigate the stock market crash. Following the committee's recommendations, the stock exchange underwent demutualization in 2013, separating ownership from management.
The DSE board of directors was subsequently reconstituted to include seven independent directors.
Apart from serving as the dean of the Faculty of Engineering and Technology of the University of Dhaka, Dr Babu is also an elected Senate member of the same university and a part-time member of the Bangladesh Accreditation Council.
He is currently the president of the International Internet Society, Bangladesh Chapter and was an honorary member of the ICT Task Force of the prime minister.
Dr Babu also served as chairman of the Computer Science and Engineering Department of the Dhaka University and also was as pro-vice-chancellor of the National University.
He is currently an associate editor of Computers and Digital Techniques, a reputed journal published by the Institute of Engineering and Technology, UK.
He has authored several textbooks for undergraduate and postgraduate students from various publishing houses in the US and the UK.