Dhaka University’s finance department professor Dr Shaikh Shamsuddin Ahmed is going to be one of the BSEC commissioners
Professor Shibli Rubayat Ul Islam, dean of the Faculty of Business Studies at Dhaka University (DU), has been appointed chairman of the Bangladesh Securities and Exchange Commission (BSEC) for the next four years.
The Ministry of Finance issued a notification in this regard on Sunday.
Shibli Rubayat Ul Islam, also chairman of the Department of Banking & Insurance at DU, is additionally serving the state-run general insurer Sadharan Bima Corporation as its board chairman.
The new BSEC chairman has gained reputation because of his leadership in modernisation efforts at each of the institutions.
Besides, DU's finance department professor Dr Shaikh Shamsuddin Ahmed, also serving state-owned Janata Bank as director, is going to be one of the BSEC commissioners, said two officials of the finance ministry, seeking anonymity.
However, the ministry has yet to issue any circular to appoint commissioners at the securities regulator.
Additionally, two former government officials with their professional accountancy background are going to be appointed as BSEC commissioners.
Of them, Bangladesh Sugar and Food Industries Corporation's former chairman AKM Delwar Hossain is a cost and management accountant and a fellow member of the Institute of Cost and Management Accountants of Bangladesh. Former additional secretary Chartered Accountant Ajit Kumar Paul is a director of Janata Bank right now and a fellow member of the Institute of Chartered Accountants of Bangladesh.
The BSEC had undergone a reform after the 2010 stock market crash. Dr M Khairul Hossain, former teacher of finance department at DU, along with his fellow commissioners has led the regulator since then.
The longest serving BSEC chairman's stretched tenure is going to end this week, while three among the four commissioner posts are vacant right now.
Two former commissioners Dr Swapan Kumar Bala and Professor Helal Uddin Nizami have left the office in recent weeks, while another post of commissioner has been falling vacant for more than a year.