Salam Sikder elected chairman of CCBL

Abdus Salam Sikder, former commissioner of Bangladesh Securities and Exchange Commission (BSEC) has been elected as the first chairman of Central Counterparty Bangladesh Limited (CCBL).

He was elected chairman at the first CCBL board meeting, according to a press release.

Earlier, on June 17, BSEC appointed seven independent directors to CCBL. Within 15 working days, the first Board of Directors issued a letter to CCBL to convene a meeting.

The first board meeting was held with 11 members of the 14-member full board of directors. Out of the remaining members, 2 shareholders will come from the directors.

The independent directors are former BSEC Commissioner Md. A. Salam Sikder, former CDBL Managing Director M. H. Samad, Sanofi's former finance director Mohammad Tajdikul Islam, Chittagong University's finance department professor Mohammad Jamal Uddin, BASIS's former director Mostafizur Rahman Sohel, Dhaka University's CSE department's professor Dr Mohammad Asif Hossain Khan And Associate Professor at the Department of Accounting and Information Systems Mohammad Tareq.

The four shareholder directors present at the first meeting were Md Rakibur Rahman, Director and Former President of Dhaka Stock Exchange, Asif Ibrahim, Chairman of Chittagong Stock Exchange, AKM Nurul Fazal Bulbul, Vice Chairman of CDBL and Anis A Khan, former Managing Director and CEO of Mutual Trust Bank.

CCBL was formed and registered in January 2019 under Bangladesh Securities and Exchange Commission (Clearing and Settlement) Rules, 2017. The company will ensure trading anonymity and make settlement operations more efficient. It will ease the settlement problems and complexities of stock exchanges. Currently, the settlements are done through the Central Depository Bangladesh Ltd (CDBL).