BSEC wants an explanation for giving compulsory leave to the MD of CSE

Staff Reporter: The sending of Managing Director of the Chittagong Stock Exchange (CSE) Mamun-ur-Rashid on compulsory leave has been the subject of various discussions and criticisms. That is why the regulatory body Bangladesh Securities and Exchange Commission (BSEC) has sought clarification from the agency.

A recent letter from the BSEC to the CSE said that Mamun-ur-Rashid, the managing director of the CSE, had been sent on compulsory leave in a letter sent to the BSEC on September 18.

In sending Mamun-ur-Rashid on compulsory leave, he has been asked to state whether all the rules and regulations of Chittagong Stock Exchange (Board and Administration) Regulations, 2013 have been properly complied with. The BSEC has advised to inform the BSEC within seven working days of receiving the letter.

Mamun-ur-Rashid, MD of CSE, has been charged with abuse of power, problems with CIB clearance and the Anti-Corruption Commission (ACC) case in February this year.

Besides, Mamun-ur-Rashid used three vehicles of the exchange to exert the influence of the position of MD. It is alleged that his son had an accident while using a CSE vehicle. That is why the managing director of CSE has been sent on compulsory leave.


Source: Daily StockBangladesh by www.dailystockbangladesh.com.

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