BSEC closes its main gate, army stationed at building

Speculation is rising after the Bangladesh Securities and Exchange Commission, or BSEC, closed its main entrance, with army personnel stationed inside the building.

From 10:45am to 3:00pm on Wednesday, no one was allowed inside the office of the capital market regulator. Just before 3:30pm, a team from the army arrived and took up positions on the premises.

It followed the BSEC chairman’s decision on Tuesday to send Executive Director Saifur Rahman into forced retirement.

Security staff at the main gate reported that some officials had also shut the glass doors on each floor, preventing employees on one floor from accessing other floors.

When attempts were made to contact the BSEC spokesperson and other relevant officials, both their office and personal phones were found to be switched off.

Saifur, who had served as the BSEC spokesperson under the Awami League administration, was transferred to another department after the changeover in government in August. In November, he was reassigned to the corporate affairs department.