Rezwanul Huque Appointed as CSE’s New Independent Director

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Rupali Bank's trading category has been upgraded to 'B' from 'Z', effective September 5, following its decision to pay a 5% stock dividend for 2023. This upgrade, announced on September 4 by the Dhaka Stock Exchange and Chittagong Stock Exchange, follows the bank's previous downgrade in May due to non-payment of dividends for two consecutive years.

Walton Hi-Tech Industries reported a significant 73% increase in profit for FY24, reaching Tk 13.57 billion despite high inflation and macroeconomic challenges. The company's earnings per share rose to Tk 44.78 from Tk 25.84 the previous year. This growth, attributed to higher sales and reduced finance costs due to lower currency devaluation impacts, led Walton to declare a record 350% cash dividend for general shareholders and 200% for sponsor-directors.

Md Shafiqur Rahman has been appointed as the new Managing Director and CEO of Biman Bangladesh Airlines. This decision was announced by the Biman board of directors. Shafiqur Rahman, who began his career with Biman in 1986 as a trainee commercial officer, has held various key roles, including Director of Marketing and Sales, Director of Administration and Human Resources, and Director of Procurement and Logistics Support. He also served as Biman's Country Manager in Singapore, Thailand, and Greece before retiring in 2017.

Sheikh Zahidul Islam and Md Humayun Kabir have been elected as the new chairmen of the Audit Committee and Risk Management Committee, respectively, at Union Bank PLC. The appointments were made during the inaugural meeting of the bank's reconstituted Board of Directors, led by Chairman Md. Fariduddin Ahmed.

Mohammad Abdul Mannan has been appointed chairman of the reconstituted board of directors at First Security Islami Bank PLC. Formerly the managing director of Islami Bank Bangladesh PLC, Mannan aims to guide the bank through its current challenges and enhance its reputation as a robust, customer-centric Shariah-compliant institution.