The government has appointed Hossain Sadat, FCS, as a commissioner of the Bangladesh Securities and Exchange Commission (BSEC) for a four-year term, completing the five-member commission led by its chairman.
A notification issued on Tuesday said Mr Sadat was appointed under Section 5 of the Bangladesh Securities and Exchange Commission Act, 1993. His tenure will take effect from the date he assumes office.
The appointment is subject to the condition that he relinquishes all employment and professional affiliations with other institutions and organisations before assuming office.
According to the notification, his salary, allowances and other benefits will be determined under a contract to be executed with the government.
The order, issued in the public interest, took immediate effect.
Mr Sadat is currently serving as the president of the Institute of Chartered Secretaries of Bangladesh (ICSB). He also serves on the boards or councils of the Bangladesh Institute of Capital Market (BICM), the Corporate Secretaries International Association (CSIA) and ICSB.
Mr Sadat is a seasoned corporate leader with nearly three decades of cross-industry experience in telecommunications, oil and gas, and audit and assurance. He has held senior leadership roles at Grameenphone, Shell Oil & Gas, Cairn Energy, and KPMG Rahman Rahman Huq.
He brings extensive expertise in corporate governance, regulatory strategy, sustainability, financial management and corporate communications.
Mr Sadat is a qualified Chartered Secretary and has undertaken executive education at London Business School.
Earlier in June, the government appointed Masud Khan as BSEC chairman, along with three commissioners. With Mr Sadat's appointment, the securities regulator now has its full complement of a chairman and four commissioners.
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