Dhaka, Bangladesh (BBN)– A total of eight members of the Dhaka Stock Exchange (DSE) have submitted their nomination papers to contest four director’s posts in the DSE direct polls scheduled to be held on March 11 this year.
The members submitted their nomination papers to the election commission of the premier bourse on Sunday, the last date of nomination paper submission, according to a DSE official.
The members, who are submitted their nomination papers, are ex-president of DSE and chairman of Royal Green Securities Limited Abdul Haque, managing director of Bulbul Securities AS Shahudul Huque Bulbul, managing director of Jahan Securities Md Shajahan, managing director of Shahidullah Securities Sharif Anwar Hossain, managing director of Rapid Securities Md Hanif Bhuiya, managing director of Fakhrul Islam Securities Fakhrul Islam, managing director of Global Securities Habib Abul Mushtaque and managing director of BLI Securities Minhaz Mannan Emon.
On February 14, the securities regulator cleared no-objection certificate to 10 contestants in DSE polls, but two candidates — Md Sajedul Islam, managing director of Shyamoal Equity Management and Kazi Firoz Rashid, chairman of Kazi Firoz Rashid Securities did not submit their nomination papers.
As per the election schedule candidates could withdraw nomination papers if he wants within March 1, 2012. The election commission will publish list of valid candidates name on February 26 after scrutinizing.
According to the DSE constitution, the election must be held every year before the annual general meeting (AGM), which is set for March 15.
There are 12 elected and 12 nominated members of the Board of Directors on the Dhaka Stock Exchange. Four directors retire every year and four others replace them through direct voting.
A president, two vice-presidents, one senior vice-president and the other vice-president, are elected from the 12 elected directors, including the new four.
The posts of four directors will be vacated this year, as incumbent DSE President Md Shakil Rizvi and directors Abdul Haque, Mohammad Shahjahan and Md Rafiqul Islam are retiring.
Earlier on January 11, at a board meeting, the DSE board declared an election commission headed by Professor Abul Hashem, a teacher of accounting and information systems at Dhaka University and also a nominated director of the DSE.
BBN/SSR/AD-19Feb12-7:50 pm (BST)