The Dhaka Stock Exchange (DSE) has got four new independent directors as the Bangladesh Securities and Exchange Commission (BSEC) approved their appointment on Monday (20 February).
The four directors are- Dr Hafiz Md Hasan Babu, dean of the faculty of Engineering and Technology of University of Dhaka; Dr Abdullah Al Mahmud, Professor of Department of Banking and Insurance of University of Dhaka; Md Afzal Hossain, former chairman of Bangladesh Trade & Tariff Commission; and Rubaba Dowla, country managing director for Oracle Bangladesh, Nepal and Bhutan.
According to the official BSEC letter, these four independent directors will form the Nomination and Remuneration Committee (NRC). For the appointment of two more independent directors, this committee will send names of three candidates for each post to the BSEC for approval.
Earlier, the DSE had sent a list of 18 candidates to the BSEC. Among them, four have been selected as the bourse's independent directors for a tenure of three years.
The DSE board consists of 13 directors. Among them, seven are independent, five are shareholders and strategic investors, and an ex-officio managing director with voting rights.
Six independent directors are being appointed now as the term of an independent director is not over yet.