The government is expected to appoint a new chairman to the Bangladesh Securities and Exchange Commission (BSEC) soon, with an announcement likely this week.
According to sources, Masud Khan, the current chairman of Unilever Consumer Care, is likely to become the next BSEC chief if the government proceeds with its current plan.
Following the national election and the BNP's assumption of office, the names of DBA President Saiful Islam and former senior secretary Md. Faridul Islam emerged as potential candidates for the post.
Later, the names of Mr Khan and former BSEC chairman Faruq Ahmad Siddiqi overshadowed other suggestions.
Meanwhile, parliament last month passed the Bangladesh Securities and Exchange Commission (Amendment) Bill, 2026, seeking to abolish the existing maximum age limit of 65 years for appointing the BSEC chairman and commissioners.
The government has reportedly lifted the age bar to appoint experienced professionals to the commission.
That renewed discussions about the possibility of appointing senior experienced individuals, including Mr Khan, who is over 70 and has had an extensive professional career, playing key roles at local and multinational companies.
Speculation surrounding Mr Khan's appointment has gained significant momentum, with insiders saying his appointment is almost certain.
Speaking to The FE, DBA President Saiful Islam said Mr Khan's appointment appeared to be at the final stage of assessment and consideration.
Asked whether the government had communicated with him, Mr Khan avoided giving a direct answer and said, "Let's see."
Preferring anonymity, a close relative of Mr Khan expressed optimism regarding his appointment when asked for an update.
Mr Khan was reappointed last month for a second term as chairman of Unilever Consumer Care. Apart from his role at Unilever, he currently serves as an independent director at British American Tobacco Bangladesh and Marico Bangladesh.
When approached, Mr Siddiqi said the authorities might have been aware of his lack of interest in joining the commission, which was why they did not communicate with him directly.
According to Mr Siddiqi, a government representative had asked about his willingness to join the BSEC as its chief, but he conveyed his unwillingness to take up the position.
"After completing my tenure as chairman, I left the BSEC long ago, and I am no longer interested in returning to the regulatory body," Mr Siddiqi added.
After the Awami League assumed office in 2009, then finance minister AMA Muhith and Dr Mashiur Rahman, the then economic affairs adviser to the prime minister, personally requested him to serve another term as BSEC chairman because of his efficiency and personal integrity. However, he rejected the offer. He had originally been appointed BSEC chief by the previous BNP-led government.
Following the fall of the government on August 5, 2024, the interim government appointed economist Dr M Masrur Reaz as BSEC chairman, but he declined to join the commission.
Later, the government appointed Khondoker Rashed Maqsood as the head of the securities commission along with three new commissioners.
Mr Maqsood, a banker by profession, has not been able to unite the staff of the organisation to make the regulatory body effective and functional, according to sources at the commission.
Insiders say he has distrusted almost all officials, rendering the regulatory body nearly non-functional.
Under Mr Maqsood, the commission placed greater emphasis on imposing penalties and reforming rules.
In this regard, former BSEC chairman Mr Siddiqi said whoever comes to the commission must be efficient as an administrator and able to communicate well with BSEC officials and stakeholders.
On the appointment of the new BSEC chairman, Tanvir Ghani, special assistant to the prime minister, said that the changes would be visible very soon.
"We are working towards a disciplined and vibrant capital market," he added.
mufazzal.fe@gmail.com
© 2026 - All Rights with The Financial Express
