21 BSEC officials suspended
However, attempts to contact Commission Chairman Khaondoker Rashed Maqsood, Commissioner Mohsin Chowdhury, and Director Abul Kalam were unsuccessful
Twenty-one officials of the Bangladesh Securities and Exchange Commission (BSEC) have been suspended from their positions for breaking service rules during the unusual protest by employees who demanded resignation of BSEC Chairman Khondoker Rashed Maqsood.
The country's capital market regulator made the decision during an unexpected meeting on Tuesday (29 April), multiple sources within BSEC, including a couple of the dismissed officials, told The Business Standard.
Later on Wednesday, the suspended was officially announced.
The 21 officials are Executive director Rezaul Karim; Directors Abu Rayhan Mohammad Mutasim Billah, Abul Hasan; Additional directors Nazrul Islam, Mollah Md Miraz-Us-Sunnah; Joint Director Rashidul Alam; Deputy Directors Bony Yeamin Khan, Towhid Hasan, Kazi Md Al-Islam, Nanu Bhuiyan, Bony Yeamin Khan; Assistant Directors Rayhan Kabir, Aminul Haque Khan, Sohidul Islam, Sazzad Hossain, Abdul Baten, Tarikul Islam, Jonny Hossain; Librarian Selim Reza Bappy and Personal officers Somir Ghosh, Abu Yusuf.
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According to a dismissed official, the decision to remove the 22 individuals was made abruptly during the commission meeting without prior notice or a set agenda. Among the dismissed officials, 14 are reportedly accused in a case currently under investigation.
Another BSEC official said while the decision has been made, no official administrative orders or formal office directives have been issued yet. "It is anticipated that these orders will be finalised in the coming days."
On 4 March, BSEC Executive Director Saifur Rahman was sent on retirement, citing evidence of irregularities during his tenure. Additionally, the commission issued show-cause notices to several other officials on various issues, and disciplinary actions have been taken against many of them.
This decision sparked widespread anger among BSEC officials and employees. The day after Saifur Rahman's forced retirement, officials gathered on the chairman-commissioners' floor to discuss the matter.
However, the chairman and commissioners alleged that they were blocked by the officials, and eventually, they had to leave the office with the assistance of the Army.
The following day, on 6 March, BSEC officials went on strike in protest. Meanwhile, on that same day, the BSEC chairman filed a case against 16 officials at the Sher-e-Bangla Nagar Police Station through his aide, Ashikur Rahman.
Among those named, Saifur Rahman had already been discharged, and another executive director, Mahbubul Alam, resigned. The remaining 14 officers were allowed to return to work on bail.
On 21 April, the court granted them bail during the second round of the case. In the meantime, the commission dismissed an additional 8 officers, including the 14 already involved.
