Guidelines on Appointment and Renewal Terms for MD/CEO of Merchant Bankers

BANGLADESH SECURITIES AND EXCHANGE COMMISSION
Securities Commission Bhaban, E-6/C Agargaon, Sher-e-Bangla Nagar Administrative Area, Dhaka-1207, Bangladesh.

BSEC/SRI/MB/Policy-5/2020/133 Date: January 30, 2020

Managing Directors/CEOs
All Merchant Bankers of Bangladesh
Bangladesh Merchant Bankers Association (BMBA) Saiham Sky View Tower (5th Floor) Suite # 5B, 45, Bijoynagar Dhaka-100.

Subject: Regarding the appointment/renewal term of the MD/CEO of a Merchant Banker.

For appointment/renewal of MD/CEO of the Merchant Bankers as per Rule 37 (3) of সিকিউরিটিজ ও এক্সচেঞ্জ কমিশন (মার্চেন্ট ব্যাংকার ও পোর্টফোলিও ম্যানেজার) বিধিমালা, ১৯৯৬, the following guideline should be adhered to:

a. For first appointment of MD/CEO, tenure should be 3 (three) years or up to attaining age of 65 (sixty five) years, whichever come earlier; and

b. For subsequent renewal, any period up to maximum of 3 (three) years.

This should come into force immediately.

By the order of Bangladesh Securities and Exchange Commission,

(Signature)
30.1.2020
Mohammad Golam Kibria
Deputy Director
Department of SRI
Phone: 55007157
Email: kibria@sec.gov.bd

Copy to:

1. Executive Director (MIS), BSEC with request to upload the letter to the website of BSEC.
2. The President, BMBA with request to disseminate this letter to all Merchant Bankers.
3. PS to Chairman, BSEC.

Phone (PABX) : +88-02-55007131-2, Fax : +88-02-55007106, E-mail : secbd@bdmail.net, Web : www.sec.gov.bd