Press Release
Chittagong, May 18, 2006:
| Chittagong Stock Exchange held its 113th Board Meeting at CSE Conference Hall where Mr. Nasiruddin Ahmed Chowdhury the First Vice President of CSE presided over the meeting. |
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Among the agendas that were discussed in the Board Meeting trading facility at KHULNA for Investment Corporation of Bangladesh (ICB) has been approved by the Board. The Board advised to take every measure for the replacement of Hardware/Upgradation of Software of existing CSE Trading System. Board also approved the recommendation of Administrative Committee for the nomination of Mr. MKM Mohiuddin, President of CSE to represent CSE to the Bangladesh Institute of Capital Market, a professional training institution for the capital market participants is going to operate soon. The Board also discussed on the necessary amendments to the CSE Memorandum of Association and Articles of Associations.
The Board also approved the recommendations of CSE Trading and Market Development Committee i) to approach SEC for implementation of sub-brokership in CSE that would help to increase CSE turnover ii) to approach SEC for approval of trading of Right Offer Letter that would help to enhance CSE turnover iii) to discuss with SEC and CDBL whether a DP audit team can be introduce under CSE in order to increase investors’ trust and confidence on all DPs iv) Discuss with the SEC & DSE whether stock borrowing and lending facility can be introduced for the brokers so that chance of settlement default by brokers/dealers in case of trade done mistakenly can be avoided v) Discuss with SEC& DSE on possibility to introduce IPO through Book Building System vi) Pursue with institutional members to increase/participate in trading in CSE in order to enhance its liquidity and market depth vii) Possibility to make a regulation to classify CSE members as active or not active viii) Possibility to discuss with SEC & DSE on the reinstatement of Netting Settlement System.
Among the CSE Directors Mr. AQI Chowdhury OBE, Vice President; Mr. Abu Sayed Md. Shahidullah, Mr. ASM Nayeem, Mr. Al Maruf Khan, Mr. Bijan Chakroborty, Mr. Mirza Salman Ispahani, Mr. Tareq Kamal, Dr. A Majeed Khan, Prof. Abu Ahmed, Mr. Anis A Khan, Mr. Amir Humayun M Chowdhury and as a Co-Secretary Mr. A B Siddique, CEO were present in the meeting.
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AKM Shahroze Alam
Deputy Manager, Corporate Development, Cell No. 01713108910