Dhaka, Bangladesh (BBN)– Senior officials of Dhaka Stock Exchange (DSE) will sit with Asian Development Bank’s Country Director Thevakumar Kandiah on Sunday to discuss how to complete the bourse’s demutualization soon.

The meeting will take place at the prime bourse’s office in the capital, Dhaka.

Dhaka and Chittagong bourses submitted individual concept papers on the process of demutualization to Finance Minister AMA Muhith last week.

The ADB will help implement the process of demutualization, a senior government official said, adding that the committee of demutualization and the bourses are working to complete the process soon.

Demutualization will transform the bourse from an entity owned by mostly brokerage members into a for-profit company of the shareholders.

The process is expected to ensure sound corporate governance, alternative business models and operational efficiency. A demutualized exchange can freely trade on the market like a public company.

BNN/SSR/AD-08Jan12-1:36 am (BST)