The Dhaka Stock Exchange has been facing snags over the appointment of independent directors, DSE officials said.
After the 15 years of authoritarian rule of the Awami League government came to an end on August 5, Hafiz Md Hasan Babu resigned as DSE chairman on August 19 and all independent directors resigned on August 22.
Later, on September 1, the Bangladesh Securities and Exchange Commission appointed seven independent directors to the DSE.
However, KAM Majedur Rahman and Helal Uddin declined to join the DSE.
On September 18, the BSEC appointed AF Nesaruddin, senior partner of Hoda Vasi Chowdhury & Co, and Syeda Zakeerin Bakht Nasir, chief consultant and CEO at ZN Consultants, as independent directors to the DSE.
According to a press release issued by the stock market regulatory commission on September 19, both of them expressed unwillingness to join the DSE as independent director.
The BSEC in a commission meeting on September 19 appointed Mominul Islam, founder of CLink Advisory, and Shahnaz Sultana, CEO and Chief Consultant FINS Alliance, as DSE independent directors.
With the latest appointment, Sattique Ahmed Shah, acting managing director of the Dhaka bourse, expressed hope that the bourse would be able to conduct its operations fully by the next week.
He said that some decisions needed to be made by the board.