The Bangladesh Securities and Exchange Commission has dismissed allegations of share trading against its Commissioner Md Mohsin Chowdhury, asserting that the claims are baseless and misleading.
According to information from the Central Depository Bangladesh Limited (CDBL), a Beneficiary Owners (BO) account exists in Mohsin鈥檚 name, which currently holds 2,231 shares of Beximco Limited.
BSEC rules prohibit its officials or their family members from engaging in share transactions. The existence of a BO account in the name of a sitting commissioner has sparked criticism in some quarters.
Responding to the matter, BSEC Director and Spokesperson Abul Kalam clarified that the BO account was opened before Mohsin assumed his role as commissioner. 鈥楩ollowing his appointment, he instructed the concerned brokerage house to sell all shares and close the account,鈥� he said.
But the Beximco shares could not be sold and the account could not be closed due to the ongoing floor price restrictions.
Abul Kalam also said no share transactions have been carried out through the BO account since Mohsin took office.
In a statement issued on Wednesday, BSEC said Commissioner Mohsin opened the BO account in 2011 for personal investment purposes.
Since joining the commission in June 2024, he has remained uninvolved in any form of share trading, the regulator said, terming the allegations 鈥榝abricated and misleading.鈥�
Regarding the 2,231 Beximco shares in the BO account, valued at approximately Tk 2.45 lakh, the commission explained that the floor price mechanism prevented their sale.
Under CDBL regulations, the account cannot be closed without being emptied.
BSEC strongly refuted the accusations, labelling them as unfounded and aimed at creating confusion.