Masud Khan Appointed New BSEC Chairman in Shake-up

File image of Masud Khan, group chief executive officer of Crown Cement PLC.

Masud Khan, group chief executive officer of Crown Cement PLC, has been appointed as the new chairman of the Bangladesh Securities and Exchange Commission (BSEC), alongside the appointment of three new commissioners in a major reshuffle of the capital market regulator.

The appointments were made through separate notifications issued on Thursday by the Financial Institutions Division (FID) under the Ministry of Finance, just hours after the former BSEC chairman and all four commissioners resigned.

According to the notification, Masud Khan will serve a four-year term from the date of joining under the Bangladesh Securities and Exchange Commission Act, 1993. The order states that he must sever all professional and institutional affiliations, while his salary and benefits will be determined through an agreement with the government. The appointment takes immediate effect in the public interest.

Alongside him, Advocate Nahid Mahtab, former deputy attorney general, has been appointed as a commissioner. Tanvir Habib Rahman and Md Nafeez Al Tarik have also been named commissioners for four-year terms under the same legal provisions.

Earlier in the day, outgoing chairman Khondoker Rashed Maqsood resigned from his post, along with four commissioners—Md Saifuddin, Md Mohsin Chowdhury, Md Ali Akbar and Farzana Lalarukh—who cited personal reasons for stepping down.

Their resignations came shortly after indications from the finance ministry that the commission would be restructured with experienced and non-political professionals to strengthen capital market oversight.

Following the leadership changes, a scheduled Eid reunion programme of the BSEC was also postponed due to “unavoidable circumstances,” according to an official notice.