Ins business should come under CDBL, says its new chairman

FE Report | Published: March 05, 2015 00:00:00 | Updated: March 05, 2015 17:22:12

Newly elected Chairman of Central Depository Bangladesh Limited (CDBL), Sheikh Kabir Hossain said the CDBL has to be more proactive to protect interest of shareholders and stakeholders.
"The officials of the Central Depository Bangladesh Ltd are working in a transparent way and we have to more forward-looking to protect our shareholders' and stakeholders' interest," Mr Kabir said at a meeting held with Human Resource division of CDBL Wednesday.
"To ensure more transparency and accountability, the officials of the CDBL have to more accountable and sincere in their work," he said.
He also said that the technology systems have to be more improvement so that we can bring insurance policy under the CDBL systems in future.
"The insurance business will be more transparent and accountable, if we can bring insurance policy under the CDBL systems," said Mr Kabir.
He also supervised the overall activity and performance of the CDBL.
The CDBL board of directors in its 93rd board meeting unanimously elected Kabir Hossain the Chairman on February 26.
Sheikh Kabir Hossain is the President of the Bangladesh Insurance Association and Chairman of the Sonar Bangla Insurance Limited, Sonar Bangla Capital Management Limited and Association of Non-Government Universities of Bangladesh (ANUB).
CDBL was incorporated on 20th August 2000 sponsored by the country's Nationalized Commercial Banks (NCBs), Investment Corporation of Bangladesh (ICB), Private Commercial Banks (PCBs), Foreign Banks, Merchant Banks, Publicly Listed Companies, Insurance Companies, and Dhaka and Chittagong Stock Exchanges with the collaboration of the Asian Development Bank (ADB).
CDBL's core services cover the efficient delivery, settlement and transfer of securities through computerized book entry system i.e. recording and maintaining securities accounts and registering transfer of securities; changing the ownership without any physical movement or endorsement of certificates and execution of transfer instruments.
babulfexpress@gmail.com