CSE should extensively consider exploiting the benefit of Public-Private-Partnership (PPP) in future
Mr. Nasiruddin Ahmed Chy, outgoing President said at CSE’s 14th AGM

Chittagong, November 8, 2009: Speaking at the fourteen Annual General Meeting of CSE in the premises of CSE, the outgoing CSE President Mr. Nasiruddin Ahmed Chowdhury urged CSE to be well equipped and managed in all respects to exploit the benefit of Public-Private-Partnership (PPP) announced by the Government in last budget. He said we expect to launch new products such as derivative in the market place. The market is looking forward to welcome Islamic financing system. CSE has a plan to work with OIC countries stock exchanges to introduce this sort of products.

The outgoing CSE President said in a changing circumstance of country’s socio-economic conditions and global economic downturn, we at the CSE, were able to make a 50% growth in 2008. Daily average turnover in CSE recorded Tk 42.34 crore as against Tk 22.09 crore in 2007, registering an increase of 91.59 percent over last year. On 16 October 2008 CSE’s trade volume exceeded Tk 100 crore for the first time in its history registering a turnover of Tk 109.17 crore. Subsequently, on 24 June 2009 the turnover stood at Tk 163.06 crore, which is the highest daily turnover achieved so far by the CSE. The market capitalization in 2008 rose to nearly Tk 81,000 crore as compared to Tk 61,317 crore in 2007, listing a better growth of about 32 percent.

The outgoing President Mr. Nasiruddin Ahmed Chowdhury is presiding over the CSE’s 14th Annual General Meeting while from his left the newly elected CSE President Mr. Fakhor Uddin Ali Ahmed, Vice President Mr. Al-Maruf Khan, FCA and from extreme right Mr. Ahmad Dawood, Company Secretary CSE and Dr. Mohammed Abdullah Mamun, new CEO of CSE are seen in the picture

CSE outgoing President vowed to introduce Next Generation Trading System (NGTS) very soon to facilitate Equity Market, Debt Market, Futures & Options Market, Commodity Market, IPO or Book Building etc. He said, “There would be facilities for trading through internet, wireless and mobile phones and also brokers’ in-house systems. Effort is being made to select a competent consultant for preparing a RFP (Request for Proposal) for the proposed NGTS. We are convinced that this NGTS will lift CSE to an international standard. Under the NGTS, our broker houses will be able to address the issues related to system difficulties efficiently.”

He further said, CSE would continue spreading its wings by taking services to the doorsteps of the investor across Bangladesh to spur investment activities. “We want to reach to all classes of investors and channel the pool of small investors’ funds to the development of the country.”CSE President said we also offer the perfect platform to investors all over the world through our Internet Trading Service.

He further said, CSE has been maintaining good corporate governance and transparency since its inception. He assured that the new Board will have a vision to achieve mission in future. He also urged upon the members to extend cooperation to increase market liquidity.

At the end of AGM, CSE President awarded CRESTS and CERTIFICATES to TOP 5 CSE Brokers for their outstanding trade performance for the year ended 31st December, 2008. LankaBangla Securities Ltd. ranked FIRST, Salta Capital Ltd. SECOND, International Securities Company Ltd. THIRD, Arab Bangladesh Bank Foundation FOURTH and Sohel Securities Ltd. ranked FIFTH position.

The audited accounts of the exchange for the year 2008 was presented and accepted in the AGM. Rahman Rahman Huq has been reappointed as the auditors of the bourse for the year 2009.

Prior to the AGM, directors election for 4 positions was held where the candidates were Mr. ASM Shahidullah, Mr. Emdadul Hoque Chowdhury, Mr. Fakhor Uddin Ali Ahmed, Mr. MKM Mohiuddin, Mr. Mohammed Mohiuddin, FCMA, Mr. Mohammed N S Kabir, Mr. Nurul Amin Chowdhury, Mr. Md. Showkat Ali Talukder and Mr. Tareq Kamal and finally Mr. Fakhor Uddin Ali Ahmed, Mr. ASM Shahidullah, Mr. Tareq Kamal and Mr. MKM Mohiuddin elected as directors for another three-year term to 2012.

The new Board in its meeting elected Mr. Fakhor Uddin Ali Ahmed as President and Mr. Al Maruf Khan, FCA, Vice President, Mr. AQI Chowdhury, OBE, Vice President, Mr. Tareq Kamal, Vice President of the exchange for the year 2010.

The elected Directors of the CSE Board are:

Mr. Fakhor Uddin Ali Ahmed, President, Mr. Al-Maruf Khan, FCA, Vice President, Mr. A.Q.I Chowdhury, OBE, Vice President, Mr. Tareq Kamal, Vice President, Mr. Abu Sayed Md. Shahidullah, Mr. ASM Nayeem, FCA, Mr. Bijan Chakroborty, Mr. Mirza Salman Ispahani, Mr. MKM Mohiuddin, Mr. Mohammad Fakruddin, Mr. Md. Siddiqur Rahman and Mr. Nasiruddin Ahmed Chowdhury.

The non-elected Directors of the CSE Board are: Prof. Abu Ahmed, Mr. Aftab Ul Islam, LLB, FCA, Engr. Ali Ahmed, Mr. Amir Humayun Mahmud Chowdhury, Mr. Anis A. Khan, Mr. Farooq Sobhan, Mr. Kutubuddin Ahmed, Mr. Mamun Rashid, Mr. Md. Sarwar-E-Alam, Mr. Yussuf Abdullah Harun and Dr. Zaidi Sattar.

The members expressed their satisfaction over the sound financial performance of the exchange during 2008 and congratulated the Board for its overall performance. The meeting ended with a vote of thanks by new president Mr. Fakhor Uddin Ali Ahmed of CSE.

AKM Shahroze Alam
Manager
Corporate Development