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Masud Khan, a renowned chartered accountant, has been appointed Chairman of the Bangladesh Securities and Exchange Commission (BSEC) on Thursday, hours after the immediate past chairman Khondoker Rashed Maqsood resigned.
Alongside the appointment of the new chairman, three new commissioners have also been appointed for the next four years. The Ministry of Finance’s Financial Institutions Division (FID) issued notifications in this regard on Thursday afternoon.
The newly appointed commissioners are Md Nafeez-Al-Tarik, Managing Director of Dhaka Bank Securities; Nahid Mahtab, a Supreme Court lawyer; and Tanvir Habib Rahman, Director (Finance) of ASA International (ASAI).
Prior to his appointment, Mr Khan served as Chairman of Unilever Consumer Care since April 2019. He is also serving as chief adviser to the board of Crown Cement Group Bangladesh.
With over 45 years of experience in leading multinational and local companies, Mr Khan previously served LafargeHolcim Bangladesh for 18 years as Chief Financial Officer and spent 20 years with British American Tobacco in finance and related roles both in Bangladesh and abroad.
He has also served as an independent director of Singer Bangladesh and Community Bank Bangladesh PLC. In addition, he has been a lecturer at the Institute of Chartered Accountants of Bangladesh for 45 years.
Mr Khan holds a Bachelor of Commerce (Honours) degree from St. Xavier’s College, University of Kolkata. The cost and management accountant earned a silver medal in the all-India CA examination in 1977.
Earlier on Thursday morning, outgoing BSEC Chairman Khondoker Rashed Maqsood and four commissioners resigned from their posts, submitting their resignation letters to the Financial Institutions Division of the Ministry of Finance, reportedly citing personal reasons.
The resigning commissioners are Md Mohsin Chowdhury, Md Ali Akbar, Farzana Lalarukh, and Md Saifuddin.
Their resignations came days after Finance and Planning Minister Amir Khosru Mahmud Chowdhury announced that the country’s capital market regulator would be restructured within two weeks.
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