Confined by protesting employees: What BSEC chairman says

Following hours-long confinement of the entire Bangladesh Securities and Exchange Commission, BSEC Chairman Khondoker Rashed Maqsood issued a press statement today (5 March).  

The statement is as follows: 

To investigate various irregularities in the capital market during the previous regime, the BSEC formed an investigation committee to look into irregularities in 12 listed companies.  

So far, the investigation committee has submitted seven reports. Based on these reports, the process of framing charges is underway, involving various capital market institutions, individuals and some BSEC officials.  

Additionally, due to various allegations, BSEC Executive Director Saifur Rahman was sent on retirement on 4 March this year, in accordance with the rules, after completing 25 years of service.  

As a result of this action, some unruly officials forcibly entered an ongoing meeting of the BSEC chairman and commissioners in the board room. They locked the main entrance, turned off the CCTV cameras, and disconnected the electricity supply, creating a chaotic and frightening situation.  

They hurled abuse, flexed muscle, and insulted the chairman's newly appointed personal secretary (PS) who is a senior assistant secretary to the government.  

They demanded that the decision regarding the two issues be withdrawn immediately or that the entire commission resign.  

This extremely chaotic and frightening situation lasted for four hours. Upon hearing news of the commission being locked and with BSEC being a critical information infrastructure (CII), the police first and then the army officials took position at BSEC, bringing the situation under control.  

It appears that some unruly officers and employees of BSEC created this unpleasant incident because the current commission has taken a strict stand against irregularities and corruption in the capital market.