BSEC Chairman Khandaker Rashed Maksud himself does not want to be completely dependent on the commission’s own officers. He wants to appoint 3 executive directors, 3 directors, 1 commission secretary and 12 joint/additional director-level officers from the Financial Institutions Division to bring about development and dynamism in the commission’s work. He said that the Financial Institutions Division will request the Ministry of Public Administration to provide them with the necessary appointments quickly. In this regard, many matters of the commission will remain confidential. The BAEC Chairman has made this demand through a report to Financial Advisor Dr. Salehuddin Ahmed to inform him about the activities that took place at BSEC, the country’s capital market regulator, on March 5, the steps taken by the commission for this and the next steps. This information has been learned from relevant sources.
Along with this, the commission has made nine-point recommendations to brighten the image of the institution and quickly restore administrative discipline, including taking necessary action against those involved in attacks and terrorist activities at BSEC. In the report sent to the Financial Advisor, the BSEC Chairman said that former Executive Director Saifur Rahman was retired due to various serious irregularities. In addition, former Executive Directors Mahbubul Alam and Rezaul Karim, Director Sheikh Mahbub-ur-Rahman, Additional Directors Mohammad Mahmudul Haque and SK Md. Lutfur Kabir and Joint Director Md. Rashidul Alam are facing serious allegations of involvement in share scams, stock market looting and illegal wealth accumulation. This is coming out in the investigation report.
On the day of the incident, the unruly and arrogant officers and employees of the commission created immense pressure to withdraw the retirement order of the former Executive Director. At the same time, they vandalized the offices of those to whom the commission had issued show cause notices for their involvement in share manipulation and irregularities and to pressure them not to accept the recommendations of the relevant investigation committee.
The Bangladesh Securities and Exchange Commission, known as the heart of the country’s economic development, has already taken some actions to deal with the unprecedented terrorist activities and undesirable situations that violate service discipline at the Securities and Exchange Commission, and considering the seriousness of the incident, the Commission believes that further actions are necessary.
