Rezwanul Huque Appointed as CSE’s New Independent Director

Since the beginning of the year, Bangladesh's stock market has experienced a significant downturn, leading to investor unrest and a mass exit from the market. From January 1 to September 12, the number of shareholder Beneficiary Owner (BO) accounts dropped by 112,119, while accounts without shares increased by 17,474. As of January 1, there were 1.4 million BO accounts, which decreased to 1.29 million by September 12. During the same period, accounts with no shares rose from 296,901 to 314,375. The total number of BO accounts fell from 1.77 million to 1.67 million.

The Bangladesh Securities and Exchange Commission (BSEC) is evaluating changes to the Capital Market Stabilisation Fund (CMSF) to better serve investors. The new chairman, Khondoker Rashed Maqsood, criticized the CMSF's past activities, including controversial investments in the Investment Corporation of Bangladesh (ICB) and a mutual fund, which he argues fall outside its mandate.

Dr. Md Ezazul Islam has been promoted to Executive Director (Grade I) at Bangladesh Bank (BB), advancing from his previous role as Executive Director (Grade II). In his new position, he continues to oversee the Monetary Policy Department, where he is responsible for formulating and implementing the central bank's monetary and exchange rate policies.

The interim government has appointed Mohammad Jainul Bari as the new chairman of Sadharan Bima Corporation's board of directors, effective from today. Bari, who resigned from his position as chairman of the Insurance Development and Regulatory Authority (Idra) on September 5, will serve a three-year term with Sadharan Bima Corporation.

Bangladesh Bank has appointed Executive Director Husne Ara Shikha as its new spokesperson, replacing Md Mezbaul Haque. Shikha, who joined the central bank in 1996 as an assistant director, will now oversee communications. Additionally, the central bank named Mohammad Shahriar Siddiqui, Director of the Banking Regulation and Policy Department, and Saeda Khanam, Director of the Communications and Publications Department, as assistant spokespersons.

The Bangladesh Securities and Exchange Commission (BSEC) has decided not to extend the subscription period for the directors of Alif Industries, who had committed to purchasing shares worth Tk 200 crore. This decision was made during a board meeting yesterday.