The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Khandaker Rashed Maksud, and four Commissioners have resigned. They submitted their resignation letters to the Financial Institutions Division of the Ministry of Finance on Thursday morning. The division's Secretary, Nazma Mobarak, confirmed this information to Prothom Alo. The Commissioners who resigned are Mo. Mohsin Chowdhury, Mo. Ali Akbar, Farzana Lalarukh, and Mo. Saifuddin. Personal reasons have been cited for their resignations. It is reported that the process of appointing a new Chairman and Commissioners has begun, with a multinational company executive being considered for the Chairman's position. Potential Commissioners could include a chartered accountant, a lawyer, and a brokerage house representative.
Achievements During Tenure
In a press release, Rashed Maksud highlighted the steps taken during his tenure. He mentioned initiating a long process to reform the legal framework and market discipline shortly after assuming office. BSEC published five gazettes and recently released three draft regulations/guidelines on corporate governance, audit, and corporate restructuring for public feedback. Drafts of the Bangladesh Securities and Exchange Commission Act and the Capital Market Stabilization Fund Act have also been prepared. Maksud noted significant progress in enforcing regulations to restore market discipline, eliminating all forms of formal and informal interventions, and ensuring the independence of market participants. He also emphasized the re-establishment of the rule of law and regular communication with stakeholders.
