Appointment of Rakibur as CCBL director raises question Mostafizur Rahman | Published: 22:31, Dec 21,2020
The appointment of Rakibur Rahman, a shareholding director of the Dhaka Stock Exchange, as a director of Central Counterparty Bangladesh Limited has raised question. The Bangladesh Securities and Exchange Commission in June approved a 13-member CCBL board and in the process Rakibur’s appointment as a CCBL director. The DSE recommended for the appointment. Officials of the BSEC, the DSE and the Chittagong Stock Exchange said that the appointment of Rakibur to the CCBL board was not consistent with the BSEC clearing and settlement rules. As per rule 18(cha) of schedule 2 of the BSEC Clearing and Settlement Rules, 2017, a trading participant or its representative is not qualified for directorship of the CCBL.