Reply to HC rule on mandatory shareholding by this week: RakiburStaff Correspondent
Dhaka Stock Exchange president Rakibur Rahman on Sunday said that they would give reply by Thursday to a High Court rule over minimum shareholding by directors in their companies.
Rakibur, after a meeting at the Securities and Exchange Commission, said that the bourses along with SEC would submit reply to HC with all relevant information and data.
The HC asked secretaries of finance and commerce, SEC chairman, Bangladesh Bank governor, NCCBL managing director, registrar of Joint Stock Companies and Dhaka and Chittagong stock exchanges to explain by four weeks why the SEC notice asking directors of banks to hold at least 2 per cent stake in their companies should not be declared illegal.
The HC issued the rule on April 8 following a writ petition filed by an aspirant of directorship of the National Credit and Commerce Bank Ltd.
Rakibur said that the May 21 deadline for fulfilling the requirement of minimum shareholding would not be extended. ‘The rumour surrounding the extension of deadline is baseless,’ he said.
About the current downtrend of the market, he blamed rumours and political instability. The DSE president said that he held discussion with the SEC over stabilising the capital market, reports Bdnews24.com.
‘We are trying our best to stabilise the capital market. We have decided to open a help desk for the investors to ward off rumours and let the investors know the actual situation of the market.’
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