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Appointment of Rakibur as CCBL director raises question
Mostafizur Rahman | Published: 22:31, Dec 21,2020
The appointment of Rakibur Rahman, a shareholding director of the Dhaka Stock Exchange, as a director of Central Counterparty Bangladesh Limited has raised question.
The Bangladesh Securities and Exchange Commission in June approved a 13-member CCBL board and in the process Rakibur’s appointment as a CCBL director.
The DSE recommended for the appointment.
Officials of the BSEC, the DSE and the Chittagong Stock Exchange said that the appointment of Rakibur to the CCBL board was not consistent with the BSEC clearing and settlement rules.
As per rule 18(cha) of schedule 2 of the BSEC Clearing and Settlement Rules, 2017, a trading participant or its representative is not qualified for directorship of the CCBL.
Reazul Bashar and Farhan Fardaus,
bdnews24.com
Published: 19 Dec 2020 08:32 PM BdST
Updated: 19 Dec 2020 08:32 PM BdST
The direct listing fiasco of Best Holdings Limited has become murkier as new questions surfaced over how it used the name of a government company as its issue manager in a bid to raise about Tk 3 billion from the capital market. );
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The controversial plan by Best Holdings, the owner of Le Méridien Dhaka hotel, has been under intense scrutiny since Bangladesh Securities and Exchange Commission in a letter on Dec 15 blocked Dhaka Stock Exchange’s attempt to list it.
The office of Finance Minister AHM Mustafa Kamal also suspended a letter recommending changes to the requirements for infrastructure development companies’ direct listing plans after the media reported the content of the letter and SEC’s subsequent move.