TPW Desk:  Professor Shibli Rubaiyat-ul-Islam is going to be re-appointed as the chairman of the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC). Prime Minister Sheikh Hasina approved his reappointment proposal on Thursday.

Recently, the Financial Institutions Department of the Ministry of Finance sent a summary to the Prime Minister seeking approval to re-appoint গা Prof. Shibli Rubaiyat-ul-Islam as Chairman of BSEC for another term of 4 years. The Prime Minister signed it on April 4.

In summary, on 17 May 2020, Professor Shibli Rubaiyat-ul-Islam was appointed as Chairman on contractual basis for 4 years. His term will end on May 16. His age on that date was 56 years 4 months 15 days. He is more than four years away from turning 65. He is accordingly eligible for reappointment for one more term.

He can be appointed as BSEC Chairman on contractual basis for the next 4 years from May 17.

As per the Bangladesh Securities and Exchange Commission Act, BSEC consists of a Chairman and four Commissioners. At present the commission has a chairman and four commissioners.

According to the Act, the Chairman and Commissioners shall hold office for a period of 4 years from the date of their appointment and shall be eligible for re-appointment for a single similar term.

Provided that a person who attains the age of 65 years shall not be eligible to be appointed to the post of Chairman or Commissioner or shall not retain the post of Chairman or Commissioner.