The Bangladesh Securities and Exchange Commission (BSEC) has instructed all independent directors of the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) to step down from their positions on the boards.
A source within the BSEC confirmed to the news media that the directive, issued verbally, requires the resignation of all independent directors, including the chairman of the CSE, to be submitted as soon as possible.
The BSEC plans to take further actions following the receipt of these resignations.
In a related move, the BSEC has established a probe committee to investigate the share trading activities of Abdullah Al Mahmud, an independent director of the DSE. The committee has been tasked with submitting a detailed report to the commission within 15 working days.