Professor Shibli Rubaiyat-ul-Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the capital market, has been given the rank of senior secretary.

A notification in this regard has been issued on Wednesday (September 9) signed by the Deputy Secretary of the Ministry of Public Administration Md. Oliur Rahman.

Shibli Rubaiyat-ul-Islam has been promoted to the post of Senior Secretary till the end of his tenure as the Chairman of BSEC, the circular said.

After his appointment Mr. Islam aimed to protect retail investors’ rights and regain their confidence. He also worked for expedited enforcing actions against non-compliant entities, next-level automation of the market infrastructure for efficiency; as well as approving new debt securities.

He has been trying to increase financing through the capital market by establish the concept that the capital market is the main source of funds for industrialization.