Khondoker Rashed becomes new BSEC chairman
He has been appointed for a four-year term
Khondoker Rashed Maqsood, a former top banker, has become the new chairman of the Bangladesh Securities and Exchange Commission (BSEC), the stock market regulator.
The Financial Institutions Division (FID) today issued a notification appointing him as chairman with a four year term.
Rashed Maqsood, a prominent banker having 30 years of experience both in Bangladesh and abroad, was serving as adviser for Strategy and Business Development of the International Finance Corporation (IFC) from May 2023.
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Prior to that, he was the managing director and CEO of Standard Bank Limited till January 2023. He also served as the MD of NRBC Bank and worked as Citi Country Officer (CCO) for Citibank NA, Bangladesh.
Rashed completed his MBA in finance from the Institute of Business Administration (IBA) of University of Dhaka and started his career with American Express as a management trainee in 1992.
Professor Shibli Rubayat-Ul Islam resigned from the BSEC chairmanship on 10 August after just five days of fall of the Sheikh Hasina government.
Following Shibli's resignation, the government earlier on 13 August appointed M Masrur Reaz as a chairman of the BSEC.
However, Masrur Reaz, who is the chairman of Policy Exchange of Bangladesh, declined to join in the post on Saturday amid protests and dissatisfaction by BSEC officials. He expressed a preference to work on broader national issues with the new government.
The protesting BSEC Officers' Welfare Association took an instance not to welcome Masrur Reaz, alleging that he had connections to the ousted Sheikh Hasina government.
Later, amid the reciprocal reaction among executive members of the association, finally they decided to welcome Masrur Reaz, who still declined to take the post.
A day after the decision not to join the BSEC, the government appointed Rashed Maqsood as the new BSEC chairman.
