Capital market regulator Bangladesh Securities and Exchange Commission (BSEC) has ordered all independent directors of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) to resign from the board.

Sources said that as soon as possible, all individual directors including the chairman of CSE and all individual directors of DSE have been verbally instructed to resign. BSEC will take necessary action in this regard after receiving the resignation letter of the directors.

There are seven independent directors on the board of directors including the chairman of DSE. Among these seven, the chairman of the organization Hafiz Md. Hasan Babu resigned last Sunday night. Following his resignation, DSE currently has six independent directors. These six directors are army officer Brigadier General M Imran Hamid, Dhaka University teacher Abdullah Al Mahmud, former chairman of Tariff Commission Afzal Hossain, managing director of Oracle Bangladesh, Nepal and Bhutan Rubaba Daula, former banker Shahedul Islam and member of Human Rights Commission Kausar Ahmed.

Apart from this, CSE also has seven independent directors. They are businessman Asif Ibrahim, former banker Abdul Halim Chowdhury, information technology expert Kashif Reza Chowdhury, journalist leader Manjurul Ahsan Bulbul, Dhaka University teacher Ishtar Mahal, musician Mohammad Naqib Uddin Khan and Dhaka University Institute of Business Administration (IBA) professor Rezwanul Haque Khan.

Besides, BSEC has also formed an investigation committee today to look into the share transactions of Abdullah Al Mahmood, Independent Director of DSE. The inquiry committee has been asked to report to the commission within 15 working days.

Source-(BSEC)