Staff Reporter :
The Anti-Corruption Commission (ACC) has launched an investigation into the graft allegations leveled against Bangladesh Securities and Exchange Commission (BSEC) Chairman M Khairul Hossain.
But the graft busters would not be drawn into disclosing the allegations against the chief of the stock market regulatory body.
Asked about the initiation of a probe, ACC Chairman Iqbal Mahmud said, “I don’t oversee these matters, others do. I don’t know anything about it.”
But Khairul Hossain could not be reached for comment.
ACC Assistant Director Mamunur Rashid was entrusted with investigating the issue through a letter dated Aug 7.
The letter reportedly mentioned ‘complaint against M Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission, for selling off initial public offer-IPO, embezzlement and money laundering’ as its subject.
“We have decided to assign you, Mamunur Rashid, as the investigation officer to confidentially collect information and submit a report on the complaints mentioned in the document,” the letter said.
“You are requested to submit the report within the deadline following a confidential probe.”
Mamunur Rashid, however, refused to comment on the issue. ACC spokesman Pranab Kumar Bhattacharya also did not comment on the issue.
Since the turn of the year, the inclusion of new companies in the capital market amid a downturn has been the subject of conjecture, with some alleging that weak companies are being listed.
In light of the complaints, the BSEC ordered against taking new IPO applications on April 30.
BSEC spokesperson Saifur Rahman said that he is ‘unaware’ of the allegations and declined to comment on the issue.
Khairul Hossain, who has been helming BSEC for eight years, was appointed as chairman on May 15, 2011. The capital market was volatile at the time of his appointment.
His term was subsequently extended for four years in 2014 and for a further 2 years in 2018.
The Anti-Corruption Commission (ACC) has launched an investigation into the graft allegations leveled against Bangladesh Securities and Exchange Commission (BSEC) Chairman M Khairul Hossain.
But the graft busters would not be drawn into disclosing the allegations against the chief of the stock market regulatory body.
Asked about the initiation of a probe, ACC Chairman Iqbal Mahmud said, “I don’t oversee these matters, others do. I don’t know anything about it.”
But Khairul Hossain could not be reached for comment.
ACC Assistant Director Mamunur Rashid was entrusted with investigating the issue through a letter dated Aug 7.
The letter reportedly mentioned ‘complaint against M Khairul Hossain, Chairman of Bangladesh Securities and Exchange Commission, for selling off initial public offer-IPO, embezzlement and money laundering’ as its subject.
“We have decided to assign you, Mamunur Rashid, as the investigation officer to confidentially collect information and submit a report on the complaints mentioned in the document,” the letter said.
“You are requested to submit the report within the deadline following a confidential probe.”
Mamunur Rashid, however, refused to comment on the issue. ACC spokesman Pranab Kumar Bhattacharya also did not comment on the issue.
Since the turn of the year, the inclusion of new companies in the capital market amid a downturn has been the subject of conjecture, with some alleging that weak companies are being listed.
In light of the complaints, the BSEC ordered against taking new IPO applications on April 30.
BSEC spokesperson Saifur Rahman said that he is ‘unaware’ of the allegations and declined to comment on the issue.
Khairul Hossain, who has been helming BSEC for eight years, was appointed as chairman on May 15, 2011. The capital market was volatile at the time of his appointment.
His term was subsequently extended for four years in 2014 and for a further 2 years in 2018.
