17 BSEC officials sent into compulsory retirement for violating service rules

Seventeen officials of the Bangladesh Securities and Exchange Commission (BSEC) have been sent into compulsory retirement for violating the regulator’s service rules, while five others have been demoted as a minor disciplinary punishment.

The decisions were taken at a BSEC commission meeting on Tuesday, according to sources.

The commission had issued show-cause notices to the officials on July 23, asking why disciplinary action should not be taken against them.

Those sent into compulsory retirement include Executive Director Rezaul Karim; Directors Abul Hasan and Mohammad Fakhrul Islam Majumdar; Additional Directors Nazrul Islam and Molla Md Miraj Us Sunnah; Joint Director Rashedul Alam; Deputy Directors Md Nannu Bhuiyan, Kazi Md Al-Islam, Shahidul Islam, Bani Yamin Khan and Towhid Hasan; Assistant Directors Aminul Haque Khan, Abdul Baten and Sazzad Hossain; and Personal Officers Abu Yusuf, Kawsar Pasha Brishti and Samir Ghosh.

The five officials demoted are Assistant Directors Jony Hossain, Raihan Kabir, Tarikul Islam and Maksud Mila, and Librarian Selim Reza Bappy.

Earlier this year, BSEC had also sent Director Abu Raihan Md Mohtachin Billah into compulsory retirement.

One of the officials affected by Tuesday’s decision, speaking anonymously with Daily Waadaa, said he was unaware of the reason for the punishment and denied committing any offence warranting compulsory retirement.

“I am certain I did not commit any offence that warrants such punishment. I will take legal action against the BSEC decision,” he said.

The move comes amid earlier tensions at the regulator following the compulsory retirement of two officials, which sparked strong resentment among employees and led to a confrontation between officials and the BSEC chairman and commissioners.