BSEC Executive Director Mahbubul steps down citing personal reasons

Mahbubul Alam, executive director of the Bangladesh Securities and Exchange Commission, or BSEC, has resigned from his role.

After securing bail on Monday, he went to the BSEC Headquarters in Agargaon in the afternoon, and tendered his resignation to Chairman Khondoker Rashed Maqsood.

A senior BSEC official told bdnews24.com, “He [Mahbubul Alam] resigned citing personal reasons. Today was his last day in office.”

On Mar 4, BSEC sent Executive Director Saifur Rahman into compulsory retirement, prompting employees to confine the commission for four and a half hours the next day.

On Mar 6, Mahbubul Alam stood alongside three other executive directors at a press conference where employees called for the resignation of the commission chairman and three commissioners while announcing a work stoppage.

That same day, a case was filed against 16 BSEC employees over the confinement of the chairman and commissioners.

The commission chairman’s personal security officer filed the case at Sher-e-Bangla Nagar Police Station, naming Mahbubul as an accused.