DSE MD resigns following 'disagreements with board'
Tarique Amin Bhuiyan, the managing director (MD) of the Dhaka Stock Exchange (DSE), resigned on Tuesday, allegedly following a series of disagreements with the premier bourse's board of directors.
A DSE director confirmed the matter, saying Bhuiyan submitted his resignation letter to the board chairman seeking discontinuation of service after 31 October.
He cited disagreements with the board regarding how to run the bourse as the reason for his resignation.
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DSE sources, however, said Bhuiyan might have been frustrated with the DSE board as it did not issue the confirmation of his three-year contractual job even after his six-month probation period had passed.
He had worked at the bourse for over a year.
Another senior DSE official, seeking anonymity, alleged that Bhuiyan was bypassing the DSE's internal rules and regulations, while relevant committees and the board thought his behaviour to be arrogant.
For example, any appointment or promotion for the posts of general manager and above is subject to the nod of the Nomination and Remuneration Committee (NRC) of the DSE board, according to the DSE's own regulations.
The promotion of around 95 DSE employees this week included several eligible senior posts, but the MD did not care about any NRC approval.
He also created three new divisions without complying with the DSE regulations, the official claimed.
Another DSE official termed the violations unacceptable.
Tarique Amin Bhuiyan and DSE Chairman Eunusur Rahman did not respond to phone calls for comment.
Tarique Amin Bhuiyan joined the DSE in July, 2021.
Resignations of the MD, chief regulatory officer and chief financial officer have become common in the DSE in recent years.
