The Bangladesh Securities and Exchange Commission (BSEC) has formed an investigation committee to probe various irregularities in the stock market over the years. The committee has
A group of Bangladesh Securities and Exchange Commission (BSEC) officials allegedly confined the chairman and commissioners during a board meeting on Wednesday demanding reversal of a decision to remove its executive director Saifur Rahman.
On 4 March 2025, Saifur Rahman was granted retirement after completing 25 years of service in line with a recommendation of the investigation committee formed to look into stock market irregularities, says a BSEC statement.
The committee has investigated 12 listed companies, submitting seven reports so far. Based on these findings, the process of filing charges is underway, implicating various market institutions and certain BSEC officials.
“They (BSEC officials) locked the main entrance of the commission, turned off CCTV cameras, and disconnected the power supply, creating a chaotic and intimidating atmosphere,” reads the statement.
“These individuals used abusive language, resorted to physical intimidation, and even assaulted the chairman’s newly appointed personal secretary, a senior assistant secretary of the government,” it added.
The group demanded the immediate reversal of the two aforementioned decisions or the resignation of the commission’s leadership.
The tense and hostile standoff lasted for four hours. Given that BSEC is a critical information infrastructure (CII) institution, law enforcement, initially the police and later the military, intervened to restore order.
