The chartered secretaries of the country have requested for their representation in the advisory committee of securities regulator.
A delegation from the Institute of Chartered Secretaries of Bangladesh (ICSB) led by its President Muzaffar Ahmed conveyed the request to the capital market regulator when they called on Professor Shibli Rubayat-Ul-Islam, chairman of Bangladesh Securities and Exchange Commission (BSEC), on Thursday.
The BSEC advisory committee comprises representatives from the ministry of finance, the central bank, business community, listed companies, stock exchanges, depository service provider, state-owned Investment Corporation, banking and insurance industry, think tanks and also the financial journalists. In spite of being the institute of chartered secretaries and the promoter of corporate governance, the ICSB deeply feels the lack of its representation there.
Lack of good corporate governance is a key problem in the capital market of Bangladesh.
The ICSB president has also requested the BSEC chairman to approve the 5th Secretarial Standard of the ICSB on organising board and other meetings through electronic modes.
The regulator has relaxed previous rules and regulations that demanded physical presence of meeting attendees, lots of hard copy maintenance and filings.
The BSEC is working to graduate the capital market to a significant level of digitalisation, and the ICSB's proposed standard would help the practitioners to adopt right manners.
The ISCB said in a press release on Thursday that the BSEC chairman gave a patient hearing to the delegation and appreciated the role of the ICSB in promoting professionalism and development of the company secretaries' profession in the country.
He hoped that through the work of chartered secretaries, good corporate governance would be established in the corporate sector.
ISCB Vice President Md Selim Reza, Treasurer Salim Ahmed, Council Member Md Sharif Hasan,
Md Shafiqul Alam, and the institute's acting secretary Md Shamibur Rahman were in the visiting team, while BSEC Commissioner Khondoker Kamaluzzaman, BSEC Deputy Director and ICSB Council Member Mohammad Delwar Hossain were also present in the meeting.