BSEC dissolves board of Fareast Finance

The Bangladesh Securities and Exchange Commission today dissolved the board of directors of Fareast Finance due to its failure of making profits for consecutive four years.

Now, the stock market regulator appointed six independent directors to bring back the company into profitable region.

Md Ashraful Moqbul, former chairman of the board of directors of Sonali Bank Limited, has been nominated as the chairman of the board of directors of the company.

Other directors are: Ihsanul Aziz, former additional managing director of Social Islami Bank Limited; Seikh Nazmul Hoque Saikot, editor in chief of kingsnews24.com; Md Sajib Hossain CFA, assistant professor of University of Dhaka; Md Mosharraf Hossain, from Dhaka University, and AKM Shahiduzzaman, a senior consultant.

The Dhaka Stock Exchange disclosed the information in a web posting today.