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DSE election soon

Star Business Report
The Dhaka Stock Exchange (DSE) yesterday decided to hold its election as soon as possible.
“As per lawyers' suggestions the board of directors decided to hold the election as early as possible,” said Salahuddin Ahmed Khan, chief executive officer (CEO) of DSE.
However, the board did not take any decision on holding the annual general meeting (AGM) scheduled for March 13.
The DSE will seek permission form the Registrar of Joint Stock Companies and Firms to defer the AGM so that the bourse can complete the election first.
The election board of the DSE will declare a fresh schedule after receiving the permission from the Registrar of Joint Stock Companies and Firms, the DSE CEO said.
Earlier, the election for the posts of four directors of DSE was virtually adjourned fol-
lowing withdrawal of nominations by all nine candidates from the annual race scheduled for March 9.
On February 20, six candidates withdrew their nominations following a pressure from a group. According to sources, the six candidates'
withdrawal could have cleared the path for a particular candidate to be elected unopposed.
But the efforts ended in fiasco following media reports that also prompted the remaining candidates including the influential candidate to withdraw their nomina-
tions on February 24.
There was also allegation that the influential candidate, who tried to become the president of DSE, was involved in financial scams on several occasions. He also received loans from banks mortgaging fake shares.
He is a close associate of a currently detained Dhakabased former lawmaker of BNP. He is also an associate a former prime minister's youngest son.
The nine candidates of the top DSE job were Anwar Hossain, managing director of
Anwar Securities, Mujibur Rahman, managing director of Prudential Securities, Khondker Asadul Islam, chief executive officer of IDLC Securities, Azizur Rahman, managing director of Globe Securities, Feroz Khan, managing director of Eminent Securities, Rafiqul Islam, managing director of Parkway Securities, MA Mumin, chairman of Surma Securities Holding Company, Lutfur Rahman Badal, managing director of Latif Securities, and Dastagir Md Adil, managing director of Adil Securities.
As per the DSE constitution, the election has to be held every year before the AGM. There are 12 elected and 12 nominated directors in the board of directors. Every year, four directors retire and four others replace them through direct voting. A president, senior vice-president and vice-president are elected from the 12 elected directors including the new fours.