Summons Issued to DSE’s Former and Deceased Directors Over Misuse of Protection Fund
- Update Time : 01:38:48 pm, Thursday, 12 December 2024
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The Bangladesh Securities and Exchange Commission (BSEC) has summoned former Dhaka Stock Exchange (DSE) Chairman Md. Yunusur Rahman, his board of directors, and senior officials over allegations of securities law violations concerning the use of the Investors Protection Fund (IPF). The summons also includes two deceased directors of the DSE.
A letter signed by BSEC Deputy Director Md. Sultan Salah Uddin on December 11 was issued to the directors who served during the Awami League era. The summons focuses on the board meetings held on June 28 and August 17, 2021, under Yunusur Rahman’s leadership, involving 12 directors. Among them are the late Rokibur Rahman, who passed away on March 18, 2022, and Habibullah Bahar, who died on August 9, 2022.
A BSEC investigation report dated November 30, 2023, found violations of securities laws regarding the collection and use of the IPF. It highlighted irregularities in the fund’s collection and its application by the DSE authorities.
Yunusur Rahman and the officials have been summoned to provide explanations at the BSEC on December 23 at 10:30 AM. When asked about summoning deceased directors, BSEC Executive Director and spokesperson Mohammad Rezaul Karim stated that the commission was aware of their deaths. He clarified that the names were included as a procedural step, and they would be excluded during the hearing.
