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BSEC Enlists three Commissioners

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BSEC

Dhaka Stock Exchange’s Managing Director, ATM Tariquzzaman, has been designated as a commissioner at the Bangladesh Securities and Exchange Commission (BSEC), the regulatory authority overseeing the capital market. The Financial Institutions Division (FID) of the Finance Ministry issued a notification confirming this appointment, alongside two other commissioners, including Dr. Shaikh Shamsuddin Ahmed from Dhaka University’s Finance Department, and Md Mohsin Chowdhury, formerly of the Bangladesh Karmachari Kallyan Board (BKKB).

The newly appointed commissioners, as per the gazette, will serve a four-year term upon joining the commission. This announcement comes as the current five-member commission’s tenure is set to conclude this month.

Notably, Dr. Rubana Islam, the current commissioner and the first female to hold the position at BSEC since May 2022, will continue her tenure with the new commission for another two years.

ATM Tariquzzaman’s transition from executive director at BSEC to commissioner underscores his significant role in regulatory affairs. His predecessor, Prof Swapan Kumar Bala, also formerly of DSE, had similarly served as a commissioner.

Dr. Shaikh Shamsuddin Ahmed, a seasoned academic and economist, previously served as a director at Janata Bank and held a senior position at the World Bank’s Dhaka office before his appointment to BSEC.

Md Mohsin Chowdhury, with a background in government service, notably as DG of BKKB, brings valuable experience to his new role as commissioner, effective June 2nd.

This reshuffling within BSEC’s leadership reflects the ongoing efforts to ensure effective governance and oversight within Bangladesh’s capital market regulatory framework.

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Dhaka Bourse on a Losing Streak

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dse index turnover bourse

Dhaka Stock Exchange DSE, Bourse on the fourth working day of the week, 29th May, ended with a drop in Indices and Turnover from the previous working session. This information is known from DSE sources.

306 crore 67 lakh taka shares were traded on this day. 134 crore 4 lakh less tradings were done in DSE today compared to the previous workday, 28th May , Shares worth Tk 442 crores 72 lakh shares were traded last time, Tuesday

The benchmark DSEX lost 50.35 points or 5,228 The Shariah-based index DSES dropped 13.59 points or 1,138, and the blue-chip index DS30 decreased by 16.79 points or 1,869.

Of the issues traded, 64 advanced, 286 declined and 39 remained unchanged.

Global Heavy Chemicals Limited ranked top gainer on DSE, the share price increased by Tk 2.60 paisa or 10.00 percent. On this day, the share was last traded at Tk 28.60 paisa.

CVO Petrochemiacal Refinery PLC ranked top loser on the DSE, the share price dropped by Tk 4.00 paisa or 3 percent. On this day, the share was last traded at Tk 129.40 paisa.

DSE topped on trade is Alif Industries Limited 14 crore 01 lakh takas of company shares have been traded.

A total of 58 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 36 lakh 53 thousand 351 shares of the companies were traded. The financial value of which is 33 crore 48 lakh taka

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PM Sheikh Hasina Hails Bangladesh as a Role Model for Global Peace

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Sheikh Hasina

Prime Minister Sheikh Hasina declared today that Bangladesh has become a role model in global peacekeeping, urging for the cessation of ongoing wars and advocating for dialogue to resolve conflicts, redirecting funds from arms races to human welfare.

“Bangladesh is a dependable name in the efforts of protecting peace and safety alongside establishing global peace. We are acknowledged by all and have become a role model on the global stage,” she stated.

The Prime Minister made these remarks while addressing an event at the Bangabandhu International Conference Centre (BICC) marking the International Day of UN Peacekeepers 2024.

She noted that 6,092 Bangladeshi peacekeepers, including 493 women, are serving with distinction in 13 UN peacekeeping missions.

“Our peacekeepers are working with fame and glory,” she said, adding that heads of state and government where Bangladeshi peacekeepers are deployed have highly praised their efforts.

“I feel really proud hearing the appreciation,” she continued.

Sheikh Hasina emphasized that Bangladesh follows the ideals of Father of the Nation Bangabandhu Sheikh Mujibur Rahman in its pursuit of global peace.

“We are actively participating in other international forums alongside the UN peacekeeping missions to establish global peace,” she said.

She recalled that Bangladesh’s “Culture of Peace” proposal was unanimously adopted by the UN in 1999, leading to the declaration of the year 2000 as the “International Year of the Culture of Peace.”

The Prime Minister highlighted Bangabandhu’s role as an envoy of peace and a voice for the oppressed, which earned him the “Joliot Curie Peace Medal” on May 23, 1973.

Sheikh Hasina commended Bangladeshi peacekeepers for their dedication to protecting civilians, human rights, and establishing peace globally, noting that they have shared Bangladeshi culture and language with the communities they serve.

“The people of those countries have given you untold love and affection,” she said.

“Overall, our professionalism, efficiency, and commitment in establishing global peace have set an example for others,” she continued, urging peacekeepers to continue their efforts to enhance Bangladesh’s reputation further.

She paid tribute to the 168 Bangladeshi peacekeepers who lost their lives and the 266 who were severely injured in the line of duty.

Chief of Army Staff General S M Shafiuddin Ahmed, Senior Foreign Secretary Masud Bin Momen, and United Nations Resident Coordinator Gwyn Lewis also spoke at the event. The program began with a minute of silence to honor the fallen peacekeepers.

A video documentary showcasing the achievements of Bangladeshi peacekeepers in UN missions was screened, and the Prime Minister handed out awards to three injured peacekeepers.

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Takaful Insurance reveals their Dividends, Q1 Financials

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One of the Listed companies, Takaful Islami Insurance Co. Limited has recommended 10% Cash Dividend for the year ended December 31, 2023.

In terms of financial performance, The Company has also reported EPS  of Tk. 1.47 for the year ended December 31, 2023. NAV per share of Tk. 19.18.

The Annual General Meeting (AGM) of the company will be held on August 10, through the digital platform. The record date for this has been fixed at June 27.

Q1 Financials: The company’s earnings per share (EPS) was Tk 0.38 paisa in Q1 of the current financial year (January – March 24). EPS was Tk 0.37 paisa during the same period last year. As of March 31, 2024, at the end of the first quarter of the fiscal year, the company’s net asset value (NAV) per share stood at Tk 19.26.

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