BSEC suspends 21 officials for involvement in 5 March unrest

The Bangladesh Securities and Exchange Commission (BSEC) has taken decisive action by suspending 21 officials following the unrest at its headquarters on 5 March. This decision was made during an emergency meeting held on Tuesday, with the official communication shared through an office order on Wednesday. The suspended officials were formally notified of their suspension upon arriving at the office on Wednesday morning, where they were presented with suspension letters.

The officials who have been suspended include executive director Rezaul Karim, director Abu Raihan Md Mohtasin Billa, additional director Nazrul Islam, joint director Rashedul Islam, deputy directors Boni Yamin, Al Islam, Shahidul Islam, and Touhidul Islam, as well as assistant directors Jony Hossain, Raihan Kabir, Sajjad Hossain, and Abdul Baten, librarian Selim Reza Bappi, and personal officer Abu Yusuf. Additionally, directors Abul Hasan and Fakhrul Islam Majumder, additional director Miraj Us Sunnah, deputy director Nannu Bhuiyan, and government directors Aminur Rahman Khan, Tariqul Islam, and Sameer Ghosh are also among those suspended.

The unrest that led to the suspension of these officials began when a group of BSEC officers and employees surrounded the BSEC chairman and three commissioners for almost four hours on 5 March. They were protesting against the forced retirement of executive director Saifur Rahman. The situation escalated, and army intervention was required to rescue the officials from the besiegement.

The following day, on 6 March, the officials staged a strike program, demanding the resignation of the commission chairman and all commissioners. In connection with these events, a case was filed on 6 March by Ashiqur Rahman, the BSEC chairman’s gunman, against 16 officials. It is worth noting that fourteen of the suspended officials are accused in this case.

The BSEC’s actions underscore its commitment to upholding discipline and accountability within its organization. The swift decision to suspend officials involved in the unrest demonstrates the seriousness with which the commission takes matters of indiscipline and misconduct. By taking such actions, the BSEC aims to maintain order and integrity within its institution and ensure that such incidents do not recur in the future.

These suspensions serve as a reminder to all officials and employees of the BSEC of the importance of upholding the principles of professionalism and respect within the workplace. The commission’s zero-tolerance policy towards disruptive behavior and misconduct highlights its dedication to fostering a conducive and harmonious working environment for all its staff. Moving forward, it is imperative for the BSEC to address the underlying issues that led to the unrest and take proactive measures to prevent similar incidents from happening again.