The Bangladesh Securities and Exchange Commission on Wednesday appointed two independent directors to the board of Dhaka Stock Exchange, and seven independent directors to the board of Chittagong Stock Exchange.
The two independent directors appointed to the DSE board are AF Nesaruddin, senior partner of Hoda Vasi Chowdhury & Co, and Syeda Zakeerin Bakht Nasir, chief consultant and CEO at ZN Consultants.
Earlier, on September 1, the BSEC appointed seven independent directors to the DSE鈥檚 board, but KAM Majedur Rahman and Helal Uddin, two of the appointed directors, decided not to join the board.
The seven new independent directors appointed to the CSE board are Alamgir Morshed, executive director and CEO of Infrastructure Development聽Company Limited, Md Saiful Islam, professor of Institute of Information and Communication Technology in Bangladesh University of Engineering and Technology, AKM Habibur Rahman, former managing director of Teletalk Bangladesh, Mahmud Hassan, associate professor of Marketing and International Business at the North South University, M Zulfiquar Hussain, CEO and Lead Consultant, grow n excel, Naznin Sultana, director of finance of Asian University for Women, and聽Farida Yasmin, deputy secretary of the Financial Institutions Division of the Ministry of Finance.
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 of the CSE 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.
Independent directors of the DSE and the CSE boards resigned on August 22, after a major political shift in the country following the ousting of the Awami League government on August 5.
On Wednesday, the stock market regulatory body fined a number of persons for manipulating share prices.
It fined ASM Hasib Hasan, managing director of Imam Button Industries, Tk 1 crore for manipulating share prices of the company.
The regulatory authority also fined Shahara Jaman and Asfaquzzaman Tk聽2.5 lakh, City Bank Capital Resources Limited Tk 10 lakh, and M Lutful Goni Titu, Md Mahmudul Hasan, and owners of Benju Khadoo Vander Khairul Hasan Benju, Lutfunnahar Begum and Akikunnahar Tk 1 lakh each for manipulating share prices of Karnaphuli Insurance Co Ltd.
The BSEC also decided to withdraw business restrictions from Dhanmondi Securities Limited as the company made up the deficits in their consolidated customers鈥� account and gave an undertaking that they would comply with all securities laws.
The commission also decided to not give registration to the CWT Private Equity Fund, managed by the CWT Private Equity Limited on the day.