The Bangladesh Securities and Exchange Commission on Sunday appointed seven independent directors to the Dhaka Stock Exchange鈥檚 board.
The seven independent directors are Maldives Islamic Bank chairman KAM Majedur Rahman, Army Institute of Business Administration director general Major General (retd) Mohammad Quamruzzaman, Financial Institutions Division additional secretary Nahid Hossain, Brigadier General Md Mafizul Islam Rashed, Centre on Integrated Rural Development for Asia and the Pacific director research Mohammed Helal Uddin, former Metlife Bangladesh general manager Syed Hammadul Karim and Bangladesh Data Centre and Disaster Recovery Site Limited managing director and CEO Mohammed Ishaque Miah.
The decision was made at a commission meeting on the day.
A BSEC press release said that the commission usually appointed independent directors from the proposals submitted by the stock exchange鈥檚 nomination and remuneration committee.
鈥楢s all the previous independent directors resigned, the committee does not exist now. Also, an NRC cannot be formed without the number of directors needed,鈥� the release said.
So, the commission is appointing independent directors adhering to the section 24 of the demutualisation act, 2013, and other laws concerned, it added.
Six independent directors, including chairman of the DSE board, resigned on August 22, after a major political shift in the country following Sheikh Hasina鈥檚 resignation as prime minister on August 5.