Shahjada new shareholder director of CSE

Shahjada Mahmud Chaudhri has been declared as new shareholder director of the port city bourse as his contestant withdrew his candidature ahead of the polls.

An election arranged by the Chittagong Stock Exchange (CSE) was scheduled for December 12 on completion of three-year tenure of a shareholder director.

Apart from Shahjada Mahmud Chaudhury, managing director of Alpha Securities, Md Rezaul Karim, managing director of Prudential Capital, submitted a nomination paper to participate in the election.

The election commission on Tuesday declared Mr. Chaudhury as director of the CSE after Mr Karim withdrew his candidature, according to CSE officials.

The board of the demutualised port city bourse comprises 13 members including managing director and a representative from its strategic partner.

Of the directors, seven are independent directors while four others are representatives of the exchange's shareholders, elected through polls in every three years.

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