An election for the post of a shareholder-director of Dhaka Stock Exchange (DSE) will be held on January 24, as a director will retire this year in line with the demutualisation scheme.
This year, Md Rakibur Rahman, managing director of Midway Securities, will retire from the board of the country's prime bourse. However, Mr Rahman will be eligible for re-election for the post, officials said.
The three-member DSE election commission headed by the retired Judge of the Supreme Court Md Abdus Samad, declared the election schedule recently.
As per the election schedule, the final voter list will be published on the DSE website on 31 December, while nomination papers could be collected from December 27, 2018 to January 01, 2019 with a cost of Tk 25,000 and should be submitted within January 02.
Candidates of the premier bourse will be allowed to withdraw candidature till January 13 and the election commission will publish the final list of candidates on the same day.
The DSE election will be held at 10:30am to 3:30pm without any break at the ground floor of Dhaka Stock Exchange building at Motijheel in Dhaka.
This year's newly-elected director will join the 13-member board at the bourse's annual general meeting (AGM) scheduled to be held on January 26, 2019.
The demutualisation scheme was approved by Bangladesh Securities and Exchange Commission in 2013 to bring transparency in the stock market.
Under the demutualisation, management and ownership of the bourses are separated.
As per the demutualisation scheme, out of the 13-member board of the bourse, seven are independent directors, four are shareholder directors, one is from strategic investors' category and the bourse's managing director.
Prior to demutualisation, Bangladesh's stock exchanges were non-profit cooperative organisations, owned by the exchange members, who were usually stockbrokers.
babulfexpress@gmail.com