Dhaka Stock Exchange (DSE) is the first and largest stock exchange in Bangladesh. It was formed under Company Act 1913 and now regulated under Company Act 1994. It’s a non-profit organization. The two vital following laws are Securities and Exchange Commission Act 1993, Securities and Exchange Commission Regulation 1994. DSE plays a very important role in developing capital market in Bangladesh.
Management of Dhaka Stock Exchange (DSE)
DSE is a public limited company. Its management is done by a 24 member council. Of the council, 12 members are elected from the members of the DSE. Of the other 12 members, one is selected by Bangladesh Bank; one is selected by commerce ministry, one by the finance ministry. One by the ministry of law and justice, and one is by the ministry of industries and rest of seven, one is the president of Institute of Chartered Accountant Bangladesh (ICAB), Chairman of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI).
Chairman of MCCI, Chairman of Dhaka Chambers of Commerce and Industries (DCCI), President of Bar Association of Supreme Court Bangladesh, Chairman of Bank and Insurance Association, and the Chairman of Department of Finance or Economics of Dhaka University. By these persons, the council of 24 members is formed. Of the council there is a Chairman; Senior Vice-Chairman and a Vice-Chairman are elected. They are elected by the direct voting of the councilors. Besides these, a Chief Executive Officer is also selected by the law of Securities and Exchange Commission (SEC).
Chairman, Senior Vice-Chairman and the Vice-Chairman are the top authority for management and policy formulation of DSE. The CEO is directly responsible for implementing the policies taken by the top body. The CFO, the secretary and the head of various departments, manage and control the administration of the overall activities of DSE.
The executive body is responsible to the top body for their duties and the top body is responsible to the council as well as to the members of DSE. By the 24 member council, the activities of DSE are executed.