The commission has compulsorily retired Saifur Rahman, the Executive Director (ED) of the Bangladesh Securities and Exchange Commission (BSEC). The commission, led by Khandaker Rashed Maqsood, is planning to retire a few more people in the same way. This has created extreme anger among BSEC officials and employees.
He was compulsorily retired in an office order signed by BSEC Chairman Khandaker Rashed Maqsood on Tuesday (March 4).
The order states that Saifur Rahman has been compulsorily retired in the public interest under Section 63 of the BSEC Employees Service Rules and Section 45 of the Government Service Act 2018. However, Section 63 of these two laws provides for the opportunity for a person convicted to apply for reconsideration. And the statutory body BSEC officers and employees are not government employees, but commission officers and employees and despite having its own law on their appointment and retirement, the Rashed Maqsood-led commission has asked Saifur Rahman to exercise the power of Section 45 of the Government Services Act 2018 to compulsory retire him.
Section 63 of the BSEC Employee Service Rules states that Section 57 of the Government Services Act 2018 shall be applicable to the retirement of employees and their subsequent re-employment. The section in which the opportunity for the punished officer and employee to apply for reconsideration is mentioned. The orderer can amend, cancel or uphold his order. That is, this law provides an opportunity for reconsideration for the person who is forced to retire.
On the other hand, the section in which the order for compulsory retirement to Saifur Rahman was given under the power of Section 45 of the Government Services Act 2018, provides an opportunity to retire any BSEC officer and employee from service without assigning any reason.
However, BSEC is a statutory body. The appointment, dismissal, and re-appointment of the officers and employees of the institution has been entrusted to the commission. Its officers and employees are not the government, but the commission’s officers and employees. BSEC has its own law for them. Where the opportunity for compulsory retirement has been provided in section 50 (b) and (e) of BSEC’s service rules. Which is considered a capital punishment.
In implementing this capital punishment, the accused person has been given the opportunity to present a written statement in defense within 10 working days of being notified of the charge sheet and to show reasons why the proposed punishment should not be imposed on him. Even if the accused applies for an extension of time, that opportunity must be given. However, the commission led by Rashed Maqsood did not follow this own law.
It is worth noting that the commission led by Rashed Maqsood, taking charge, gave Saifur Rahman the responsibility of the R&D department from the Issuer Company Affairs department on August 22 last year. At that time, he was basically made an OSD. However, he was removed from that responsibility on September 9. Since then, Saifur Rahman has been coming to the office regularly, but has not been able to do any work.
