SEC looks to higher authorities over resumption of Rupali share trading

---

FE Report
The Securities and Exchange Commission (SEC) will decide on the resumption of Rupali Bank share trading that has remained halted for more than four months only after getting an official directive.
"The commission is waiting for the directive to resume trading of the Rupali Bank shares," an SEC official said.
The SEC view was made known Tuesday when representatives of the Dhaka Stock Exchange (DSE) went to the commission to know if the SEC would allow trading of Rupali Bank shares after the government stopped the divestment process of the bank, sources said. The government Monday last dropped the name of the bank from the privatisation list, as Prince Bandar Bin Mohammed Bin Abdul Rahman Al-Saud, who won the bid to buy Rupali Bank, failed to sign the final purchase deal in time.
The DSE and Chittagong Stock Exchange (CSE) halted the trading of Rupali Bank share on November 5 last year after its price fluctuated wildly over the news of the takeover by the Saudi prince.
DSE chief executive officer Salahuddin Ahmed Khan said: "We have discussed about the resumption of Rupali Bank share trading with the commission. The SEC said it is waiting for a directive from higher authorities."