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Published : 04 Jun 2026, 02:19 PM
The government has picked accountant and seasoned corporate professional Masud Khan to head the Bangladesh Securities and Exchange Commission (BSEC) as part of a move to give the capital market regulator “a fresh look”.
He has been joined by three newly appointed commissioners.
Masud had been serving as chairman of Unilever Consumer Care since April 2019. He also worked as chief advisor to the board of Crown Cement Group.
Among the new commissioners, Nafeez Al Tarik had been managing director of Dhaka Bank Securities, while Nahid Mahtab is a Supreme Court lawyer and Tanwir Habib Rahman was finance director at ASA International.
On Thursday, Khondoker Rashed Maqsood, who was appointed as BSEC chairman during the interim government's tenure, stepped down from the post.
Four commissioners also resigned.
A few hours later, the Financial Institutions Division of the Ministry of Finance issued separate notifications appointing Masud as chairman and the three others as commissioners.
According to the ministry, they have been appointed for a four-year term on the condition that they relinquish all professional ties with other institutions and organisations.
On Apr 30, parliament passed the Bangladesh Securities and Exchange Commission (Amendment) Act, 2026, scrapping the upper age limit of 65 for the appointment of the BSEC chairman and commissioners.
The government said the change was aimed at allowing experienced professionals to serve on the commission.
Following the amendment, Masud's name quickly emerged as a leading contender for the post.
The veteran corporate executive, who is over 70, has held senior positions at a number of local and international organisations.
On Jun 2, Finance Minister Amir Khosru Mahmud Chowdhury said at an Economic Reporters Forum event that the capital market regulator would be restructured within two weeks with a new chairman and four commissioners.
He said the market overhaul aimed to bring in seasoned professionals with strong expertise in capital market operations.
After the political change following the 2024 July Uprising, former Standard Bank managing director Rashed Maqsood was appointed BSEC chairman on Aug 18, 2024 by the then interim government led by Muhammad Yunus.
The commissioners who served alongside him -- Md Mohsin Chowdhury, Md Ali Akbar, Farzana Lalarukh, and Md Saifuddin -- also resigned, paving the way for the new leadership team headed by Masud.
Masud has over four decades of experience across multinational and local companies.
He was independent director and audit committee chairman at Singer Bangladesh Limited and Community Bank Bangladesh.
He also held positions as independent director and chaired the nomination and remuneration committee at British American Tobacco Bangladesh.
Before joining Unilever Consumer Care, he worked as chief financial officer (CFO) at LafargeHolcim Bangladesh for 18 years.
Earlier, he spent two decades at British American Tobacco in finance and other senior roles.
