The New Nation - Internet Edition

NATION BUSINESS REPORT

Nasiruddin Ahmed Chowdhury was reelected president of the Chittagong Stock Exchange (CSE) at a meeting of the new board of directors after conclusion of its 13th annual general meeting (AGM) held on Sunday.

Fakhor Uddin Ali Ahmed, Al Maruf Khan and AQI Chowdhury were also reelected vice presidents for the year 2009.

Speaking at the AGM held at the CSE's premises, the reelected president vowed to introduce Next Generation Trading System (NGTS) to facilitate Equity Market, Debt Market, Futures and Options Market, Commodity Market, IPO, Book Building and others.

He said, "There would be facilities for trading through internet, wireless and mobile phones and also brokers' in-house systems. The proposed NGTS will lift CSE to an international standard."

"We are working very closely with SEC, CDBL and DSE to reduce the time requirement for IPO processing and making it more investor friendly. Under the new proposal, investors will be allowed to apply for IPO issues by paying only 25 per cent of the face value of shares."

In the AGM, Mirza Salman Ispahani, AQI Chowdhury, Al Maruf Khan and ASM Nayeem retired from the CSE board and were unanimously reelected directors of the bourse for another three-year term to 2011.

The elected Directors of the Board are Nasiruddin Ahmed Chowdhury, Fakhor Uddin Ali Ahmed, Al Maruf Khan and AQI Chowdhury, Abu Sayed, Md Shahidullah, ASM Nayeem, Bijan Chakroborty, Mirza Salman Ispahani, MKM Mohiuddin, Mohammad Fakhruddin, Md Siddiqur Rahman and Tareq Kamal.

Prof Abu Ahmed, Engr. Ali Ahmed, Amir Humayun Mahmud Chowdhury, Anis A Khan, Farooq Sobhan, Mamun Rashid, Md. Sarwar-E-Alam, Prof Rabiul Husain, Aftabul Islam and Safwan Choudhury were among the non-elected Directors.