Mominul Islam has been elected as the new chairman of Dhaka Stock Exchange (DSE).

He previously served as the managing director of IPDC Finance and takes over the chairmanship following a vacancy that lasted over a month, according to a press release.

The decision was made at a DSE board meeting that convened for the first time in nearly two months, which included participation from the seven newly appointed independent directors alongside five shareholder directors.

DSE officials noted that the last board meeting was held on August 1, but subsequent meetings were postponed due to delays related to the appointment of new independent directors after the resignation of the previous board members following the change in government.

On September 1, the Bangladesh Securities and Exchange Commission (BSEC) appointed Brig Gen Md Mafizul Islam Rashed, former DSE Managing Director KAM Majedur Rahman, Professor Major General (retd) Mohammad Quamruzzaman, Financial Institutions Division Additional Secretary Nahid Ho
ssain, DU Professor of Economics Mohammed Helal Uddin, former General Manager of Metlife Bangladesh Syed Hammadul Karim, and Bangladesh Data Center and Disaster Recovery Site Limited CEO Mohammed Ishaque Miah as new independent directors.

However, DSE members raised concerns about the appointments of Majedur Rahman and Helal Uddin, claiming their involvement with brokerage firms violates board and administration regulations. Subsequently, the BSEC replaced them with AF Nesaruddin and Syeda Zakerin Bakht Nasir, but this also raised regulatory compliance issues.

Finally, on September 19, the BSEC appointed Mominul Islam and Shahnaz Sultana, CEO and Chief Consultant of FINS Alliance.

Source: United News of Bangladesh