Central Depository Bangladesh officials under BSEC scanner
It is alleged that the CDBL, which stores shares electronically, has stolen data from the server using fake certificates
The securities regulator has formed an inquiry committee to investigate the overall activities of the Central Depository Bangladesh Limited (CDBL) because of some allegations of various misconduct against CDBL officials.
Recently, the Bangladesh Securities and Exchange Commission (BSEC) has come to know of some wrongdoings such as involvement in securities trading, information trafficking, and holding key positions with forged academic certificates by CDBL officials through media reports.
Hence, for the interest of investors and development of the capital market, the BSEC formed the committee after considering these allegations.
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BSEC Deputy Director Md Bony Yeamin Khan, Assistant Directors Muhammed Dastagir Husain and Md Sazzad Hossain, and Dhaka Stock Exchange Manager Md Din Islam Molla are the committee members, while BSEC Director Mohammed Fakhrul Islam Mazumder is the committee supervisor.
After completion of the inquiry, the committee will submit its findings to the commission within 60 days from the date of issuance of this order.
It is alleged that the CDBL, which stores shares electronically, has stolen data from the server using fake certificates.
Recently, two officers including a general manager of the company were fired for accessing the server without permission. Four officials have been suspended due to fake certificates. An investigation is going on against five others.
Earlier, there was also evidence of corruption against CDBL officials. In 2010, Khondkar Ibrahim Khaled, the head of the investigation committee formed in the wake of the collapse of the capital market, talked about reforming CDBL. But no initiative was taken to deregulate the cycle.
