BSEC in quorum crisis

Stock market Desk || Published: 2020-05-04 10:29:30 || Updated: 2020-05-04 10:29:30

The BSEC will not be able to hold any commission meeting from Monday until the government fills the vacancies

The Bangladesh Securities and Exchange Commission (BSEC) is set to face a quorum crisis for holding meetings as one of the existing two commissioners completes his tenure on Monday.

The BSEC consists of a chairperson and four commissioners. The quorum of the commission meeting requires the minimum presence of its chairman and two commissioners.

Prof Helal Uddin Nizami completes his tenure as a commissioner on Monday, which leaves the BSEC with only a chairman and a commissioner.

As a result, the BSEC will not be able to hold any commission meeting from today until the government fills the vacancies.

Earlier, Swapan Kumar Bala completed his four-year term  as a commissioner on April 15 and returned to his original occupation of a professor at Dhaka University.

The tenure of the chairman professor M Khairul Hossain ends on May 14. He joined the BSEC as its chairman after the stock market collapse in 2010.

After completion of his first three-year tenure, the government reappointed him chairman of the commission for the second term for four years.

Later, the government extended his tenure by two more years. He is a professor at the Department of Finance at Dhaka University.

sunbd/sks

 

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