BSEC in quorum crisis

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