Workers and officials at the capital market watchdog Bangladesh Securities and Exchange Commission (BSEC) have declared a walkout, calling for the resignation of the commission’s chairman and three commissioners. On Wednesday afternoon, they obstructed the chairman and commissioners at the Agargaon building for approximately four hours.

The employees staged the protest demanding the resignation of Chairman Khandaker Rashed Maksud in protest against the mandatory retirement of the agency’s executive director Saifur Rahman. Later, Executive Director Mahbubul Alam announced the strike on behalf of the agency’s officials and employees at a press conference.

It was informed at the conference that if the commission does not resign by Wednesday, all categories of BSEC officials and employees will observe a strike from tomorrow, Thursday.

BSEC Executive Directors Anwarul Islam, Mahbubur Rahman Chowdhury, Mohammad Rezaul Karim and other officials and employees at various levels were present at the press conference.

Earlier, BSEC Chairman Khandaker Rashed Maqsood and other commissioners were freed from the blockade and left the BSEC building at around 3:30 pm on Wednesday, under the guard of law enforcement officers, demanding the resignation of BSEC Chairman Khandaker Rashed Maqsood and the commissioners. At that time, the protesting officers and employees raised slogans demanding their resignation.

Last Tuesday, BSEC Chairman Khandaker Rashed Maqsood issued an order to forcibly retire Executive Director Saifur Rahman. Saifur Rahman was made OSD after the new authorities joined BSEC.

At a press conference, BSEC Executive Director Mahbubur Rahman said that there is frustration among BSEC officers and employees with the current commission. The main reasons for this are the bad behavior of the commissioners, the continuous show-cause of the officers in the light of the investigation of various companies, and the issuance of an order to send Executive Director Saifur Rahman to compulsory retirement without paying attention to the rules and regulations. In view of this, we have made five demands.

However, they did not accept the demand. Instead, they called the army on Wednesday with false information and lathicharged our officials.

The BSEC executive director said, “I am demanding from the government that qualified and experienced guardians be appointed here (BSEC). How is it possible to work with guardians who do not know how to respect their own officials and employees?”