Written by The Banking Post
The Dhaka Stock Exchange (DSE) will hold elections for two shareholder-director positions on December 15, as the tenure of two incumbent directors nears its end under the exchange’s demutualisation scheme.
This year, Md. Shakil Rizvi, managing director of Shakil Rizvi Stock Limited, and Mohammad Shahjahan, managing director of Jahan Securities Limited, will retire from the DSE board.
The election schedule, announced by the three-member DSE Election Commission led by retired Justice Md. Abdus Samad, outlines that the voter list will be published on November 12, while nomination papers will be available from November 13 to 19 at a fee of Tk 25,000. Candidates must submit their forms by November 19, with withdrawals allowed until December 2. The final list of candidates will be released on December 3.
Voting will take place from 10:30 a.m. to 3:30 p.m. at the DSE Lounge in Nikunja, Dhaka. The newly elected directors will join the 13-member DSE board at the bourse’s 64th annual general meeting (AGM) on December 18.
Under the demutualisation structure, the DSE board comprises seven independent directors, four shareholder directors, one strategic investor representative, and the managing director.
Meanwhile, the DSE board has recommended a 1.70% cash dividend for the 2024–25 fiscal year — its lowest payout in nearly a decade. The premier bourse’s profit plunged 49% year-on-year to Tk 330 million, weighed down by a bearish market and low turnover.
Despite facing operating losses, the exchange remained profitable thanks to non-operating income, mainly from fixed deposit receipts (FDRs), which continued to cushion its financial performance.
