The first demutualised board of Dhaka Stock Exchange on Friday elected former justice Siddiqur Rahman Miah as chairman of the bourse for a three-year term, DSE officials said.
Siddiqur is an independent director of the DSE.
The 12-member board on the day elected the bourse’s chairman at a meeting held in a city hotel after the Bangladesh Securities and Exchange Commission on Thursday selected seven independent directors from the list of 14 proposed by the DSE for the first demutualised board of the bourse.
The DSE on Thursday in its annual general meeting approved the seven independent directors, the four shareholder-directors elected by the bourse on Wednesday and the DSE chief executive officer-turned-managing director as directors of its first demutualisation board.
Including Siddiqur, the seven independent directors of the bourse are University Grant Commission member Abul Hashem, ex-foreign secretary Waliul Islam, BUET professor M Kaykobad, FBCCI first vice-president Monowara Hakim Ali, Brigadier General Mohammad Mujibur Rahman and Institute of Cost and Management Accountants of Bangladesh member Ruhul Ameen.
The four elected shareholder-directors are Shakil Rizvi of Shakil Rizvi Stock, Mohammad Shahjahan of Jahan Securities, Khwaja Ghulam Rasul of Khwaja Equity Services and Sharif Anowar Hossain of Md Sahidullah Securities.
DSE chief executive officer-turned-managing director Swapan Kuman Bala is also on the first demutualised board of the bourse.
As per the demutualised scheme, there should be a 13- member board. But, a strategic investor is yet to be selected for the directorship.
Earlier on February 9, the BSEC asked the Dhaka and Chittagong stock exchanges to submit fresh lists of proposed independent directors as former Bangladesh Bank governor Farashuddin Ahmed decided not to be a director of the DSE and the regulator found some problems in the list submitted by the CSE.
The DSE and the CSE on Wednesday submitted their respective fresh lists of proposed independent directors.
The DSE on February 3 and the CSE on February 4 had submitted the lists for the first time.
-With New Age input
