Dispute over DSE MD's appointment on

Dispute over the appointment of Kazi Sanaul Haque as the managing director (MD) of Dhaka Stock Exchange (DSE) continued.

At Thursday's meeting of DSE's board of directors, its a group expressed their grievance for making Sanaul, also former managing director of Investment Corporation of Bangladesh's (ICB), DSE MD.

But DSE chairman professor Abul Hashem defended the appointment, saying that Sanaul has been chosen as MD following fair process.

He said, "DSE MD has been appointed fairly. Despite this, anyone can lodge lawsuit in this connection if he feel fair process has not been followed."

Besides, a portion of DSE's board of directors, 20-25 more DSE members also expressed their discontent about Sanaul to prof Hashem but he did not take these into account.

At the meeting, they alleged that Kazi Sanaul Haque has unfairly been appointed as MD, and the matter made headlines on the mass media. 

Responding to them, chairman said Bangladesh Securities and Exchange Commission (BSEC) has approved the proposal of making Sanaul as DSE MD.

After the meeting, a DSE director said the prime bourse of the country ought to appoint a man of clean image its managing director as the share markets now faces a crisis moment.

Earlier on January 7, Nomination and Remuneration Committee primarily picked Kazi Sanaul Haque as DSE MD.

On January 9, DSE government body decided to appoint him in the post.

At the meeting, six of DSE governing body gave their consent to the appointment and four, including three share holder directors opposed, saying that fair process has not been followed in this regard.