Shibli Rubayat reappointed BSEC chief for second term
He is a former dean of the Faculty of Business Studies of Dhaka University
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Professor Shibli Rubayat-Ul Islam has been reappointed as the chairman of the Bangladesh Securities and Exchange Commission (BSEC) for another four-year term.
Prof Islam is a former dean of the Faculty of Business Studies of Dhaka University.
The Financial Institutions Division of the Ministry of Finance issued a circular declaring his reappointment on Sunday.
“As per the Section-5(6) of the Bangladesh Securities and Exchange Commission Act, 1993, Professor Shibli Rubayat-Ul-Islam has been reappointed as chairman for a subsequent four-year term commencing May 17, 2024 or the date of assumption of duties,” reads the circular.
Earlier on 4 April, Prime Minister Sheikh Hasina consented to the ministry's recommendation for his reappointment.
Prof Islam was appointed chairman of the BSEC on May 17, 2020. His current tenure is going to expire on 16 May this year.
He was the chairman of Sadharan Bima Corporation, the state-owned non-life insurer and reinsurer.
Following the news of his reappointment, the stock market opened higher, with the DSEX, the key index of the Dhaka Stock Exchange (DSE) initially jumping over 100 points or 1.85 per cent to 5620 and finally closing more than 97 points or 1.76 per cent higher to 5615.