Professor Shibli Rubayat to be the BSEC Chairman

Sunbd Desk || Published: 2020-05-12 10:58:06 || Updated: 2020-05-12 10:58:06

Ministry official have also finalised three names to appoint as commissioners at the securities regulator

Professor Shibli Rubayat Ul Islam, the Dean of Dhaka University’s Faculty of Business Studies, is going to be the next Chairman of the Bangladesh Securities and Exchange Commission (BSEC), according to Finance Ministry sources.

Ministry official have also finalised three names to appoint as commissioners at the securities regulator.

The contractual appointment is only a subject to a circular from the Ministry of Public Administration now, said the sources.

University Of Dhaka’s finance professor Dr Shaikh Shamsuddin Ahmed, also serving state-owned Janata Bank as director, is going to be one of the BSEC commissioners, informed two of the Finance Ministry officials seeking anonymity.

Two former official of the Bangladesh government with their professional accountancy background are going to the BSEC.

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.

While, Chartered Accountant Ajit Kumar Paul is a director of Janata Bank right now. The former additional secretary is a fellow member of The Institute of Chartered Accountants of Bangladesh.

Department of Banking & Insurance’s Chairman Shibli Rubayat Ul Islam is additionally serving the state-owned reinsurer Sadharan Bima Corporation as its board chairman.

He has gained reputation because of his leadership in modernisation efforts at each of the institutions.

Bangladesh Securities and Exchange Commission (BSEC) had undergone through a reform after the 2010 stock market crash and Dhaka University’s finance professor Dr M Khairul Hossain 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 posts of commissioner are already 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 left vacant for more than a year.

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