BSEC seeks new MD recruitment plan from Chattogram bourse

The Bangladesh Securities and Exchange Commission (BSEC) sought a work plan from the Chittagong Stock Exchange (CSE) on recruiting its new managing director (MD).

On Sunday, the commission sent a letter to the port city bourse's acting MD for submitting the recruitment plan within seven working days.

According to the letter, the BSEC found some lacking in the current recruitment process of the CSE.

Therefore, it asked the bourse to submit a proper plan to ensure the appointment of a competent MD.

The post has remained vacant for the last seven months after the CSE sacked Mamun-Ur-Rashid, its former MD, in September last year.

A BSEC official said the bourse requested a one-month time extension on 22 February this year, and then again another time extension of two months regarding the MD's appointment.

On 19 September, the CSE sent Mamun-Ur-Rashid on a one-month forced leave.

In February, the Anti-Corruption Commission filed a case against Mamun-ur-Rashid, who is also the ex-MD of Standard Bank, for allegedly embezzling about Tk4 crore from the bank.