Md Hanif Bhuiya and Md Sajedul Islam have been elected uncontested as shareholder-directors of the Dhaka Stock Exchange (DSE) for the next three years.
They will replace Md Shakil Rizvi, managing director of Shakil Rizvi Stock, and Mohammad Shahjahan, managing director of Jahan Securities.
This year, two shareholder-director posts fell vacant following the completion of the three-year tenure of Mr Rizvi and Mr Shahjahan, in line with the demutualisation scheme.
To fill the vacancies, the Dhaka bourse formed a three-member election commission headed by Justice Md Abdus Samad, a retired High Court judge, in early November.
Under the election schedule, the deadline for submitting nomination papers was November 19, while December 2 (Tuesday) was the last date for withdrawal of candidature.
Only two candidates-Mr Bhuiya, managing director of Rapid Securities, and Mr Islam, managing director of Shyamol Equity Management-submitted nomination papers within the stipulated time frame.
As a result, the DSE election commission declared Mr Bhuiya and Mr Islam elected uncontested as shareholder-directors of the country's prime bourse.
The newly elected directors will join the 13-member DSE board at the bourse's 64th annual general meeting (AGM), scheduled for December 18.
Under the demutualisation scheme, the DSE board comprises seven independent directors, four shareholder-directors, one representative of the strategic investor category, and the managing director of the bourse.
Meanwhile, the DSE board has recommended a 1.70 per cent cash dividend for FY25, marking the lowest dividend declaration in almost a decade.
The premier bourse's profit plunged 49 per cent year-on-year to Tk 330 million during the year, driven by a bearish market trend and lower turnover.
Although the exchange has posted operating losses over the past few years, non-operating income-mainly from fixed deposit receipts (FDRs)-has helped it remain profitable.
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