Ex-NBR chief Mazid made CSE chairman

FE Report | February 17, 2014 00:00:00

Dr. Muhammad Abdul Mazid

The former National Board of Revenue (NBR) chairman Dr. Muhammad Abdul Mazid has been made the first chairman of the demutualized Chittagong Stock Exchange (CSE), officials said.

Mr. Mazid was unanimously selected chairman at a meeting Saturday, attended by seven independent directors and four shareholder directors of the port city bourse.

As per the demutualization act, majority of the board of directors of the exchange will be independent, and the chairman will be selected from the independent directors.

The former NBR chief was earlier appointed an independent director by the Bangladesh Securities and Exchange Commission (BSEC).

He started his career in the Bangladesh Bank, and joined Bangladesh Civil Service in BCS Audit and Accounts Cadre in 1981.

Prior to retiring as the secretary of the Internal Resource Division (IRD) under the Ministry of Finance (MoF) and the NBR chairman, Mr. Mazid had held various positions in the public service.

He was a member of the Planning Commission, deputy secretary of MoF, director of the Board of Investment (BoI) and the Economic Relations Division and chief accounts officer of IRD.

Mr. Majid is also the chief coordinator of Bangladesh Diabetic Samity in Dhaka.

The other six independent directors of the CSE are: Chittagong University teacher Prof. Mohammad Ayub Islam, former president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Md Shafiul Islam Mohiuddin, BGMEA first vice-president Nasir Uddin Ahmed Chowdhury, Institute of Chartered Accountants of Bangladesh (ICAB) President Showkat Hossain, Dhaka University teacher Prof. Mamtaz Uddin Ahmed and physician Moinul Islam Mahmud.

The four shareholder directors are: Mirza Salman Ispahani of ISPI Securities Ltd, Mohammad Khairul Anam Chowdhury of LankaBangla Securities, Mohammed Mohiuddin of Island Securities and Md Shamsul Islam of BE Rich Ltd.

Meanwhile, retired Justice Siddiqur Rahman Miah was made the first chairman of the demutualised Dhaka Stock Exchange (DSE) Friday.