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evwl©K cÖwZ‡e`b 2020

ANNUAL
REPORT 2020
RyjvB 2019 - Ryb 2020
July 2019 - June 2020

XvKv ÷K G·‡PÄ wjwg‡UW

Dhaka Stock Exchange Limited

www.dsebd.org
Annual Report 2019-20
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 gywRe kZel©
MUJIB CENTENARY
2020 mv‡ji 17 gvP© wQj GK HwZnvwmK g‡n›`ª¶Y| RvwZi March 17 of 2020 was a historic and golden moment,
the birth centenary of the Father of the Nation
RbK e½eÜy †kL gywReyi ingv‡bi Rb¥kZel©| RvwZ mvb›`wP‡Ë
Bangabandhu Sheikh Mujibur Rahman. The nation is
Zvi R‡b¥vrme D`&hvc‡b cÖ¯Z
‘ | evsjv‡`k Z_v wek¦ ¯^v‡¯’¨i Rb¨
happily prepared to celebrate the birth centenary of
ûgwK¯^iƒc K‡ivbvfvBiv‡mi Kvi‡Y D™¢~Z cwiw¯’wZ‡Z this great leader. The mass welfare-oriented
RbKj¨vYgyLx miKvi RvwZi wcZvi GB eY©vX¨ Rb¥kZe‡l©i ewY©j Government decided to observe the colourful
celebration of the centenary in a limited way
Av‡qvRb mxwgZfv‡e D`&hvc‡bi wm×všÍ †bq| 10 Rvbyqvwi
considering the pandemic of Coronavirus, a threat to
e½eÜyi ¯^‡`k cÖZ¨veZ©b w`em| cvwK¯Ív‡bi ew›``kv †_‡K gyw³
Bangladesh and the whole world. January 10 is the

Honourable Prime Minister Sheikh Hasina unveiling the logo of Mujib Borsho at the capital’s National Parade Square on 10th January
2020. She started the countdown for the birth centenary celebration of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

†c‡q 1972 mv‡ji GB w`‡b e½eÜy †`‡k wd‡i Av‡mb| GB Bangabandhu’s Home-Coming Day on his return from
w`bB RvwZi RbK e½eÜy †kL gywReyi ingv‡bi Rb¥kZevwl©Kx the jail of Pakistan and from that day, the year-long
celebration of Bangabandhu’s birth centenary’s
Dcj‡¶¨ eQi e¨vcx gywReel© D`&hvc‡bi Rb¨ ¶YMYbvi D‡Øvab
countdown began which was inaugurated by
Kiv nq| hv D‡Øvab K‡ib evsjv‡`k miKv‡ii gvbbxq cÖavbgš¿x Honourable Prime Minister of Bangladesh Sheikh
†kL nvwmbv| Hasina.

ïay evsjv‡`‡kB bq wek¦e¨vcx gywRe el© cvwjZ nq| RvwZms‡Ni Not only in Bangladesh, the Mujib Year was observed
across the world. It was decided to observe the Mujib
A½msMVb BD‡b‡¯‹vi 40Zg mvaviY Awa‡ek‡b 17 gvP©

2 wWGmB evwl©K cÖwZ‡e`b n­2019-20

evsjv‡`kmn we‡k¦i Ab¨vb¨ †`‡k †hŠ_fv‡e gywReel© cvj‡bi Year on March 17 jointly across the world in the 40th
General Assembly of UNESCO, a specialized agency
wm×všÍ M„nxZ nq| ZvB e½eÜy †kL gywReyi ingvb AvR ïay
of United Nations. So, Bangabandhu Sheikh Mujibur
evsjv‡`‡ki †bZv bb, wZwb Zvi Kg©KvÛ Ges Ae`v‡bi gva¨‡g
Rahman is not only a leader of Bangladesh, he is now
wek¦ eÜy‡Z cwiYZ n‡q‡Qb| GK kZvãx Av‡M ALÐ evsjvi Bishwa Bandhu (global friend) due to his splendid
cÖZ¨šÍ cjøx‡Z Rb¥MÖnY K‡i e½eÜy †kL gywReyi ingvb †hfv‡e performance and contribution. Born in a remote
village of undivided Bengal 100 years back, it is a
Dcgnv‡`‡ki ivR‰bwZK gvbwPÎ e`‡j w`‡qwQ‡jb, Zv we‡k¦i
miracle by Bangabandhu Sheikh Mujibur Rahman to
we¯§q| GKRb †bZv Zvi †`‡ki gvbyl‡K gh©v`vc~Y© change the political landscape of the sub-continent.
AvZ¥cwiP‡qi Av‡jv‡K wK Acwimxg mvnwmKZvi ga¨ w`‡q Father of the Nation, Bangabandhu Sheikh Mujibur
GwM‡q wb‡q †h‡Z cv‡ib Zvi D¾¡j D`vniY RvwZi wcZv e½eÜy Rahman is an epitome to establish the self-identity of
a nation in a dignified way through unlimited courage.
†kL gywReyi ingvb| ïay Dcgnv‡`‡k bq, we‡k¦i †kvwlZ gvby‡li
Not only in the sub-continent, he took a bold position
c‡¶ `„p Ae¯’vb wb‡qwQ‡jb wZwb| D`vË K‡Ú e‡jwQ‡jb †h wek¦ in favour of exploited masses in the whole world. He
kvmK I †kvwlZ `yB fv‡M wef³, wZwb †kvwl‡Zi c‡¶| †Kej spoke with a clarion call that the world is divided into
evsjv‡`k bq, Gwkqv, Avwd«Kv, jvwZb Av‡gwiKvi †KvwU †KvwU two parts- rulers and exploited, he is in favour of
exploited. Not only Bangladesh, Bangabandhu was a
gyw³Kvgx gvby‡li Aby‡cÖiYvi Aci bvg wQ‡jb e½eÜy| e½eÜy
great inspiration of freedom-loving millions of Asian,
ïay ivR‰bwZK gyw³B `vex K‡ibwb, ¯^cœ †`‡LwQ‡jb African and Latin Americans. Bangabandhu not only
A_©‰bwZKfv‡e mg„× †mvbvi evsjvi| ¯^vaxbZvi Aí K‡qK demanded political freedom, he had a dream to build
eQ‡ii g‡a¨B wZwb evsjv‡`‡ki cÖe„w×i m¤¢vebvi A‡bKUvB an economically rich “Sonar Bangla”. He materialized
a major portion of economic growth potential of
ev¯Í‡e iƒc w`‡Z †c‡iwQ‡jb| 1972 mv‡j Avgv‡`i A_©bxwZi
Bangladesh after the very few years of independence.
AvKvi wQj gvÎ 8 wewjqb gvwK©b Wjvi| Avi Avgv‡`i wiRv‡f© Without any foreign exchange reserve in the state
ZLb †Kvb ˆe‡`wkK gy`vª I wQj bv| kZKiv Avwk fvM gvbyl wQj coffer of Bangladesh in 1972, the size of our economy
was only eight billion US dollar. Eighty percent people
`wi`ª I Afvex| e½eÜyi ˆecøweK †bZ…‡Z¡i Kj¨v‡Y hy× weaŸ¯Í
were poor and needy. However, the country’s economy
†`‡k AeKvVv‡gvMZ Dbœq‡b mxgve×Zv _vKv ¯^‡Ë¡I †`‡ki
began to rebound promptly due to the revolutionary
A_©bxwZ `ªæZ Ny‡i `vuov‡Z ïiæ K‡i| †`‡ki †fZ‡i I evB‡i leadership of Bangabandhu though the liberation war
†ek wKQy cÖvK…wZK `y‡h©v‡Mi d‡j ZLb Lv`¨k‡m¨i fqven m¼U ravaged the infrastructure of the country which faced
a grave crisis of food due to some internal and external
PjwQj| IB mgqUvq AvšÍRv© wZK evRv‡i R¡vjvwb †Zj I Lv‡`¨i
natural disasters. At that time the Bangabandhu
m¼‡Ui cvkvcvwk g~j¨ùxwZi P¨v‡jÄI e½eÜyi miKvi‡K Government had to face the twin perils of food and
†gvKv‡ejv Ki‡Z n‡qwQj| Avi G¸‡jv †gvKv‡ejvi Rb¨ Zvui international oil crisis and inflationary pressure with a
nv‡Z m¤ú`I wQj Lye mxwgZ| Zv ¯^‡Ë¡I e½eÜy GB mxwgZ limited resources. Despite this, Bangabandhu was able
to rescue the country’s economy from the wreckage
†`kR m¤ú` Ges wKQy AvšÍRv© wZK mnvqZv wb‡qB aŸsm¯‘c †_‡K
with a limited local resource and some international
†`‡ki A_©bxwZ‡K Zy‡j Avb‡Z †c‡iwQ‡jb| e½eÜy Zvi assistance. Bangabandhu put a thrust on ensuring
ˆelg¨nxb A_©‰bwZK e¨e¯’vi KvVv‡gv‡Z †h welqwU‡K ¸iæZ¡ public welfare in his equal economic system.
w`‡qwQ‡jb Zv n‡jv RbM‡Yi Dbœq‡bi gva¨‡g RbKj¨vY wbwðZ Bangabandhu believed if people are poor then the
country will remain poor. So he stated that economic
Kiv| e½eÜy †h aviYvwU †cvlY Ki‡Zb Zv n‡jv, gvbyl hw`
emancipation of people through the change of socio-
nZ`wi`ª _v‡K Z‡e †`kI nZ`wi`ª _vK‡e| Kv‡RB gvby‡li Av_©- economic condition was a must to build a rich and
mvgvwRK Ae¯’vi cwieZ©‡bi gva¨‡g hLb gvbyl‡K developed country. Bangabandhu prioritized creation

DSE ANNUAL REPORT n­2019-20

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 A_©‰bwZKfv‡e ¯^wbf©i K‡i M‡o †Zvjv hv‡e, ZLb †`kI of wealth and its balanced distribution in his economic
policy. On the other hand, playing an effective role to
mg„×kvjx n‡q DV‡e| e½eÜy Zvui A_©bxwZi aviYvq m¤ú‡`i
expand and develop the economy through stimulating
mylg eÈb I m¤ú` m„wói welqwU‡K cÖvavb¨ w`‡qwQ‡jb|
the domestic entrepreneurs was an important feature
Ab¨w`‡K †`kxq D‡`¨v³v‡`i cÖ‡Yv`bvi gva¨‡g wk‡íi Dbœqb I of the economy of Bangabandhu. The main target was
m¤cÖmvi‡Y Kvh©Ki f~wgKv ivLvI wQj e½eÜyi A_©bxwZi GKwU creating a class of entrepreneurs who would create
employment opportunities and develop the economy
cÖavb ˆewkó¨| Gi g~j j¶¨ wQj hw` D‡`¨v³v ˆZwi Kiv hvq,
of the country. Bangabandhu was able to convince the
Z‡e †`k †hgb A_©‰bwZKfv‡e jvfevb n‡e †Zgwb Kg©ms¯’v‡bi Bengali nation that both agriculture and industry were
my‡hvMI m…wó n‡e| evsjv‡`‡ki De©i f~wg‡K we‡ePbvq †i‡L the main two investment pillars to develop the
A_©‰bwZK Dbœq‡bi cÖavb Dcv`vb wn‡m‡e K…wli cvkvcvwk economy considering the fertility of the country’s land.
It is unparalleled when Bangabandhu steered a
wk‡íI †h wewb‡qvM n‡Z cv‡i, evOvjxi g‡a¨ e½eÜy GB aviYvwU
country to the height of economy and diplomacy within
m„wó Ki‡Z m¶g n‡q‡Qb| gvÎ mv‡o wZb eQ‡ii ivó« cwiPvjbvq only three and a half years. For any country,
e½eÜy evsjv‡`k‡K A_©‰bwZK I K~U‰bwZKfv‡e †h D”PZvq Bangladesh’s honour and dignity under the leadership
wb‡q wM‡qwQ‡jb, Zvi Zyjbv Avi †Kv_vI †bB| wek¦ cwigÛ‡j of Bangabandhu was a matter of jealousy and
surprise. Being a small country Bangladesh became a
e½eÜyi †bZ…Z¡vaxb evsjv‡`k †h gh©v`v I m¤§vb AR©b Ki‡Z
big name in the global perspective. Still people
m¶g n‡qwQj, Zv †h †Kv‡bv iv‡ó«i Rb¨ wQj Cl©v I we¯§‡qi| remember Sheikh Mujib wherever the issue of
AvqZ‡b †QvU ivóª evsjv‡`k n‡q D‡VwQj ˆewk¦K cwigÛ‡ji independence and autonomy comes alive.
GKwU eo bvg| AvRI c„w_exi †h †Kv‡bv cÖv‡šÍ ¯^vaxbZv I Bangabandhu is a non-inflammable lighthouse of
Bangladesh. He will remain as our inspiration source
¯^vwaKv‡ii cÖm½ G‡j †kL gywR‡ei K_v mevB g‡b K‡i| e½eÜy
of energy and courage. Being a symbol of
evsjv‡`‡ki Awbe©vY evwZNi| wZwb Avgv‡`i kw³ I mvn‡mi independence and solidarity of Bangladesh,
Drm n‡qB _vK‡eb| evsjv‡`‡ki ¯^vaxbZv I msnwZi cÖZxK, Bangabandhu Sheikh Mujibur Rahman is still a source
of strength for our nation. It is doubtless that
e½eÜy †kL gywReyi ingvb GLbI Zvui Rxeb, Kg© I evYx w`‡q
Bangabandhu’s life, performance and messages will
RvwZ‡K kw³ RywM‡q Pj‡Qb| G e¨vcv‡i mvgvb¨ m‡›`nI †bB
steer the Bengali nation and Bangladesh in the future.
†h, fwel¨‡Zi w`b¸‡jv‡ZI e½eÜyi Rxeb, Kg© I evYx ev½vjx Bangabandhu was established in his own greatness in
RvwZ I evsjv‡`k bvgK ivó«‡K c_ †`Lv‡e| the society and the state tearing apart the local and
foreign conspiracy. Bangabandhu’s shadow is being
†`kxq I we‡`wk Pµv‡šÍi Rvj wQu‡o e½eÜy µ‡gB ivó« I mgv‡R widened with the passing of each day. The historic
¯^gwngvq cÖwZwôZ n‡qwQ‡jb| hZ w`b hv‡”Q, e½eÜyi Qvqv †hb speech of Bangabandhu on March 7, the epic
µ‡gB `xN©Zi n‡”Q| gyw³hy‡×i Awebvkx †cÖiYv wn‡m‡e cÖwZwôZ inspiration of Liberation War is now a part of world
heritage. In a unique recognition of Bangabandhu’s
e½eÜyi HwZnvwmK 7 gv‡P©i fvlY GLb wek¦ HwZ‡n¨i Ask|
contribution to the nationalist movement in south Asia,
e½eÜy‡K wb‡q Pjw”PÎ wbwg©Z n‡”Q| `w¶Y Gwkqvq a film is being created on him. It is the nation’s good
RvZxqZvev`x Av‡›`vj‡b Zvui f~wgKvi G GK Af~Zc~e© ¯^xK…wZ| luck that he was born in this country, loved the people
wZwb G †`‡k R‡b¥wQ‡jb, gvbyl‡K fv‡jv‡e‡m‡Qb, †bZ…Z¡ and led them in their struggles. He remained
determined in his ideal like a valiant hero despite his
w`‡q‡Qb, GUv RvwZi †mŠfvM¨| cvwK¯Ívwb ˆ¯^ivPvix mvgwiK
captivity in the jails under the autocratic military
kvmK‡`i †R‡j eQ‡ii ci eQi e›`x †_‡KI wZwb AKz‡Zvfq dictators of Pakistan. He awakened the nation in the
ex‡ii g‡Zv wbR msK‡í AUj †_‡K‡Qb| gyw³i gnvg‡š¿ RvwZ‡K fight of freedom, the culmination of their final target

4 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

RvwM‡q‡Qb Ges ¯^vaxbZvi c_ a‡i RvwZ‡K †cŠu‡Q w`‡q‡Qb ¯^cœ of dream fulfillment. The image of Bangabandhu is not
only being getting brighter today, his political thought,
c~i‡Yi P~ovšÍ j‡¶¨| e¨w³ e½eÜy †Kej µ‡gB D¾¡jZi n‡”Qb
philosophy, humanity and politics are also becoming
bv, Zvui ivó«wPšÍv, Zvui `k©b, Zvui gvbweKZv, Zvui ivRbxwZI
powerful day by day. After 1975, the ill-effort to destroy
µ‡gB kw³kvjx n‡”Q| cuPvˇii ci µgvš^‡q evsjv‡`k bvgK the democratic values, humanity, non-communalism
ivó« †_‡K MYZš¿, gvbweKZv, Amv¤cÖ`vwqKZv I m¤cÖxwZi and amity from Bangladesh has failed in total in the
long run. After assuming the state office by Awami
mygnvb Av`k© gy‡Q †djvi †h Ac‡Póv P‡jwQj, Kv‡ji cwiµgvq
League, established by him, the judicial trials of war
Zv me©vs‡k e¨_© n‡q‡Q| Zvui nv‡Z Mov AvIqvgx jxM †`k criminals were almost completed and on the other
cwiPvjbvi `vwqZ¡ MÖn‡Yi ci GKw`‡K †hgb hy×vcivax‡`i wePvi hand, a visible achievement of development and
cÖwµqv A‡bKvs‡k m¤úbœ n‡q‡Q, Ab¨w`‡K Dbœqb I mg„w×i prosperity has been possible.

`„k¨gvb AR©b m¤¢e n‡q‡Q| Bangladesh Awami League was mandated by the
people to steer the country after a long 21 years in
`xN© msMÖvg I A‡bK AvZ¥Z¨v‡Mi wewbg‡q 21 eQi ci 1996
1996 after a prolonged struggle and self-sacrifices.
mv‡j evsjv‡`k AvIqvgx jxM ivó« cwiPvjbvi `vwqZ¡ cvq| Later the people in 2008 again mandated the Grand
cieZ©x‡Z 2008 mv‡ji wW‡m¤^‡ii RvZxq wbe©vP‡b RbMY Alliance led by Awami League who led the country in

Professor Dr. Abul Hashem, Ex-Chairman of DSE and Ex-Convener of the Bangabandhu's birth centenary celebration committee inaugurated the countdown
of Mujib year at DSE Building, 9/F Motijheel C/A, Dhaka-1000 on January 27, 2020. Hon'ble Parliamentarians, Board of Directors, former Presidents and
Chairmen of Dhaka Stock Exchange, Board of Directors of DBA and other stakeholders were present at that time.

¯^vaxbZv hy‡× †bZ…Z¡`vbKvix AvIqvgx jx‡Mi †bZ…Z¡vaxb

its Liberation War in 1971. Since then the Bangladesh
gnv‡RvU‡K wecyjfv‡e weRqx K‡i| †mB †_‡K evsjv‡`k Awami League is in power for three consecutive terms
AvIqvgx jxM Uvbv Z…Zxqev‡ii g‡Zv ivó« cwiPvjbvi `vwqZ¡ MÖnY to perform arduously to develop the country embracing
K‡i e½eÜyi Av`‡k© †`k I RbM‡Yi Dbœq‡b wbijmfv‡e KvR the ideal of Bangabandhu. In the last 11 years, every
K‡i hv‡”Q| weMZ 11 eQ‡i †`‡ki mvgwóK A_©bxwZ, K…wl, wk¶v, sector of the country witnessed massive development
speed including macro economy, agriculture,
¯^v¯’¨, †hvMv‡hvM, Z_¨cÖhwy ³, AeKvVv‡gv, we`y¨r, MÖvgxY A_©bxwZi
education, health, ICT, infrastructure, power, rural
Dbœqb, KzU‰bwZK mvdj¨mn cÖwZwU †m±‡i e¨vcK Dbœqb n‡q‡Q|
economy and diplomacy. The incumbent government
A_©‰bwZK Z_v wk‡ívbœq‡bi gva¨‡g eZ©gvb miKvi memgqB always enlivens the industrial development through

DSE ANNUAL REPORT n­2019-20

5
 cyuwRevRvi‡K mg„× Ki‡Q| cyuwRevRv‡ii me `y‡h©vMKvjxb mg‡q capital market and it extended the hands of

miKvi mn‡hvwMZvi nvZ evwo‡q w`‡q‡Q| †hgwbfv‡e ¯^vaxbZv cooperation to help the capital market during its all
perils like the post-independence period when
cieZ©x mg‡q e½eÜy my`yicÖmvix A_©‰bwZK Dbœqb K‡í ÷K
Bangabandhu had a dream to ensure industrialization
G·‡PćK RvZxqKiY bv K‡i cywu RevRv‡ii gva¨‡g wk‡ívbœq‡bi
through capital market without nationalizing the stock
MwZ‡K Z¡ivwš^Z Kivi ¯^cœ †`‡LwQ‡jb| RbMY AvR Dbœq‡bi exchange. The people are now getting the benefits of
mydj cv‡”Q| evsjv‡`k GLb A_©‰bwZK Dbœq‡bi kxl© Gkxq development. Bangladesh is now among the top Asian
†`k¸‡jvi g‡a¨ GKwU Ô†ivj g‡WjÕ| A_©‰bwZKfv‡e wbgœ Av‡qi countries in economic development, a ‘role model’.
Bangladesh has been graduated into a middle-income
†`k †_‡K wbgœga¨g Av‡qi †`k wn‡m‡e DËiY N‡U‡Q
country from lower income country. The construction
evsjv‡`‡ki| ¯^vaxb evsjv‡`‡k e½eÜy wb‡Ri cv‡q `vuov‡bvi †h
of Padma Bridge on its own fund is the successful
cÖZ¨q e¨³ Ki‡Zb, wbR¯^ A_©vq‡b cÙv †mZy wbg©vY ZviB ¯^v_©K implementation of the determination of Bangabandhu
iƒcvqY| AvR GB gywRee‡l© Avgiv cig kÖ×vf‡i ¯§iY KiwQ to be self-dependent in the free Bangladesh. Today
GB gnvb †bZv‡K, Zvi KvR‡K, Zvi Av`k©‡K| during this Mujib Year, we are remembering this great
leader and his ideology and achievement with high
gywRee‡l© GB Awemsevw`Z gnvb †bZvi cÖwZ kÖ×vwb‡e`‡bi
esteem and respect.
D‡Ï‡k¨ A_©‰bwZK Dbœq‡bi PvwjKvkw³ †`‡ki cÖavb cywu RevRvi
Dhaka Stock Exchange (DSE), the main bourse of the
XvKv ÷K G·‡PÄ wjwg‡UW eQie¨vcx wewfbœ Kg©m~Px cvj‡bi country has taken different programmes throughout
D‡`¨vM MÖnY K‡i‡Q| 10 Rvbyqvwi gvbbxq cÖavbgš¿x gywReel© the year to pay tribute to this great leader observing
D`&hvc‡bi ¶YMYbvi D‡Øvab Kivi ci XvKv ÷K G·‡PÄ the Mujib Year. After the inauguration of the countdown
wjwg‡UW 27 Rvbyqvwi 2020 Zvwi‡L gvbbxq msm` m`m¨, XvKv to observe Mujib Year by the Honourable Prime
Minister, DSE on January 27, 2020 arranged the
÷K G·‡P‡Äi cwiPvjbv cl©‡`i m`m¨, wWGmBÕi mv‡eK
opening of the countdown on its premises, attended
†cÖwm‡W›U I †Pqvig¨vbe„›`, †U«K‡nvìvie„›`, wWweGÕi †cÖwm‡W›U
by Honourable Member of Parliament, members of the
Ges cwiPvjKe„›`, gv‡P©›U e¨vsKvm© G‡mvwm‡qkb Ges Ab¨vb¨ DSE Board of Directors, former presidents and
†÷K‡nvìvi‡`i Dcw¯’wZ‡Z wWGmB cÖv½‡b gywRee‡l©i ¶YMYbv chairmen of DSE, TREC-holders, president and
D`&hvcb Av‡qvRb K‡i| H Abyôv‡b gywRee‡l©i gwngv I Zvrch© directors of DBA, leaders of Merchant Bankers
Association and other stakeholders. The importance
Ges e½eÜyi Kg©gq Rxeb Zz‡j aiv nq| gywRee‡l©i wewfbœ
and significance of Mujib Year and the achievement of
Kg©m~Pxi Ask wn‡m‡e 17 gvP© 2020 Zvwi‡L wWGmBÕi
Bangabandhu were highlighted in the event. As part
†Pqvig¨vb †gvt BDbymyi ingv‡bi †bZ…‡Z¡ wWGmBi cwiPvjbv of observing Mujib Year, DSE Board of Directors, led
cl©` RvwZi wcZv e½eÜy †kL gywReyi ingvb-Gi Rb¥kZ by its Chairman Md. Yunusur Rahman placed wreaths
evwl©Kx‡Z avbgwÛ 32 b¤^‡i e½eÜyi cÖwZK…wZ‡Z XvKv ÷K at the Bangabandhu Portrait at Road Number 32 of
G·‡P‡Äi c‡¶ cy®úvN© Ac©Y K‡i kÖ×v Rvbvb| Dhanmondi on March 17, 2020, the day of birth
centenary of Father of the Nation Bangabandhu
e½eÜyi Rb¥kZevwl©Kx‡Z Djøvm I Avb‡›`i g‡a¨I Avgv‡`i
Sheikh Mujibur Rahman.
ü`‡q †e‡R I‡V KiæY myi| cuPvˇii 15 AvM÷ NvZKiv
There is pathos in our hearts amid happiness and
evsjv‡`‡ki jjv‡U †j‡c †`q A‡gvPbxq Kj¼| gywRee‡l© RvwZi
enjoyment on the birth centenary of Bangabandhu
wcZvi 45Zg kvnv`Zevwl©Kx‡Z evsjv‡`k wmwKDwiwUR A¨vÛ when we recall the tragedy of August 15, 1975. On
G·‡PÄ Kwgk‡bi †Pqvig¨vb, Kwgkbvi I EaŸ©Zb Kg©KZ©ve„›`, that day, the killers perpetrated the heinous misdeed

6 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

XvKv ÷K G·‡P‡Äi cwiPvjbv cl©‡`i m`m¨e„›` I to pollute the history of Bangladesh. DSE arranged
†kqvi‡nvìvi cÖwZwbwae„›`, PÆMÖvg ÷K G·‡P‡Äi cwiPvjbv memorial meeting and Doa Mehfil to pay tribute on
the occasion of the 45th death anniversary of the Father
cl©`, wWweGÕi cwiPvjbv cl©`, beMwVZ †m›U«vj KvD›Uvi cvwU©
of the Nation. It was attended by Chairman of
Ae evsjv‡`k wjwg‡UW-Gi cwiPvjbv cl©`, wdb¨vwÝqvj wi‡cvwU©s
Bangladesh Securities and Exchange Commission
KvDwÝj, †m›U«vj wW‡cvwRUwi Ae evsjv‡`k-Gi cwiPvjbv (BSEC) and its top officials, members of the DSE Board
cl©`mn, AvBwmweÕi cÖwZwbwa, evsjv‡`k gv‡P©›U e¨vsKvm© of Directors, members of the Board of Directors of
G¨v‡mvwm‡qk‡bi wbe©vnx m`m¨e„›`, evsjv‡`k G‡mvwm‡qkb Ae Chittagong Stock Exchange, Board of Directors of
cvewjKwj wj‡÷W †Kv¤úvwb‡Ri wbe©vnx m`m¨e„›`, ZvwjKvfy³ DBA, Central Depository Bangladesh Ltd and newly-

e¨vs‡Ki e¨e¯’vcbv cwiPvjK, G¨v‡mU g¨v‡bR‡g›U †Kv¤úvwbi established Central Counter Party of Bangladesh Ltd,
representatives of ICB, leaders of Merchant Bankers
cÖwZwbwa, wWGmBÕi e¨e¯’vcbv cwiPvjKmn DaŸ©Zb Kg©KZ©v Ges
Association, Bangladesh Association of Publicly Listed
mvsevw`Ke„‡›`i AskMÖn‡Y XvKv ÷K G·‡PÄ wjwg‡UW ¯§iYmfv
Companies, Managing Directors of listed banks,
I †`vqv gvnwdj Av‡qvRb K‡i Ges GKB w`b avbgwÛ 32 b¤^‡i representatives of asset management companies,
e½eÜyi cÖwZK…wZ‡Z kÖ×v wb‡e`b K‡ib| Managing Director of DSE and its high officials and
XvKv ÷K G·‡PÄ gywReel©‡K †K›`ª K‡i AvšÍRv© wZK ms¯’v-Iqvì© journalists. On the same day DSE paid tribute at the
portrait of Bangabandhu at Dhanmondi 32 number.
†dWv‡ikb Ae G·‡P‡Äm (WweøDGdB), mvD_ Gwkqvb
†dWv‡ikb Ae G·‡P‡Äm (GmGGdB), Gwkqvb A¨vÛ Iwkwbqvb DSE is going to arrange an international webinar on

÷K G·‡P‡Äm †dWv‡ikb (GIGmBGd), †Møvevj wi‡cvwU©s Capital Market and Economic dream of
Bangabandhu involbing representatives from World
Bwbwk‡qwUf (wRAviAvB), BDbvB‡UW b¨vkÝ mvm‡UB‡bej ÷K
Federation of Exchanges, South Asian Federation of
G·‡P‡Äm Bwbwk‡qwUf BDGb-GmGmB, AvBwmwm-we, we‡k¦i
Exchanges, Asian and Oceanian Stock Exchanges
wewfbœ ÷K G·‡PÄ, AvšÍR©vwZK Z_¨ mieivnKvix I wgwWqv-
Federation, Global Reporting Initiative, United
eøygevM©, WvB‡i± GdGb, iqUvm©, GmGÛwc WvI‡RvÝ Ges
Nations Sustainable Stock Exchanges Initiative, ICC-
AvšÍR©vwZK AvBwU cÖwZôvb-bvmWvK, †d¬·‡U«W, GBPwc-AvBwU,
B, different bourses of the world, international
wmm‡Kv-AvBwU, gvB‡µvmdU AvBwU, wfGgWweøDGAviAvB-
information provider and media Bloomberg,
AvBwU, Gd5-AvBwU Ges G·‡PÄ †i¸‡jUi‡`i cÖwZwbwae…‡›`i DirectFN, Reuters, S & P DowJones, Nasdac,
AskMÖn‡Y wek¦ `iev‡i †mvbvi evsjv MV‡b Òcywu RevRvi I e½eÜyi Fextrade, HP-IT, Cisco-IT, Microsoft IT, VMWARI-IT, F5-
A_©‰bwZK ¯^cœÓ kxl©K GKwU I‡qwebvi Abyôv‡bi Av‡qvRb Kiv IT and Regulators of stock exchanges. Precious book
n‡q‡Q| hv gvbbxq cÖavbgš¿x KZ…©K D‡Øva‡bi †Póv Kiv n‡”Q| commemoration Bangabandhu's Birth Centenary and
GQvovI ¯’vbxq ch©v‡q e½eÜyi Rb¥kZevwl©Kx Ges evsjv‡`k myeY© 50 years of Bangladesh will be publsihed. Apart from
RqšÍx Dcj‡¶¨ GKwU g~j¨evb MÖš’ cÖKvk, iPbv, wPÎv¼b this, country wide essay and art competitions,
cÖwZ‡hvwMZv Ges wWGmB UvIqv‡i gywRe KY©vi ¯’vcbmn Av‡iv establishment of Mujib Corner at DSE Tower and
†ek wKQz D‡`¨vM †bqv n‡q‡Q| some more initiatives have been taken.

DSE ANNUAL REPORT n­2019-20

7
 m~wPcÎ
WHAT’S INSIDE

Notice of the AGM 10

Overview of DSE 12
Presidents / Chairmen 16
Board of Directors 19
Corporate Events 20
Vision & Mission 22
Corporate Information 24
Directors’ Profile 28
Management 41
Financial Results of last 5 years 42
Business at a glance 45
Market Scenario 46

Chairman‘s Message 49

Message from MD 57
Corporate Governance Statement 63
Meeting Attendance of Board & Board Committees 70
Internal Control Process 74
Modernization and value addition 76
Pattern of DSE Shareholding 77
Risk Management and Mitigation 78
Environmental and Social Governance 86
Collaborative initiatives with GRI 88
Financial Literacy 89

8 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 Global Market & DSE
91
SZSE Market at a glance
94
SSE Market at a glance
98
103 Directors’ Report

133 Upcoming Developments

137 Audit & Risk Management Committee Report

141 Due Diligence Certificate

143 Networking of DSE

157 Pictorial
163 Auditor’s Report
167 Statement of Financial Position
169 Statement of Profit or Loss and other Com. Income
170 Statement of Changes in Equity
171 Statement of Cash Flows
172 Notes to the Financial Statements
207 Annexure - A
208 Annexure - A1
209 Annexure - B
210 Annexure - B1
211 Annexure - C
212 Annexure - D & E
213 Annexure - F
214 Acronyms

DSE ANNUAL REPORT n­2019-20

9
 evwl©K mvaviY mfvi weÁwß

59 Zg evwl©K mvaviY mfvi weÁwß

GZØviv XvKv ÷K G·‡PÄ wjwg‡UW (wWGmB) Gi mKj †kqvi‡nvìvi‡`i AeMwZi Rb¨ Rvbv‡bv hv‡”Q †h, Dnvi
†kqvi‡nvìvi‡`i 59 Zg evwl©K mvaviY mfv †mvgevi, wW‡m¤^i 28, 2020 mܨv 6:15 wgwb‡U wWwRUvj cøvUd‡g©i
gva¨‡g wb¤œewY©Z Kvh©vejx m¤úv`bK‡í AbywôZ n‡e:

1. Ryb 30, 2020 Zvwi‡L mgvß A_©eQ‡ii wbixwÿZ wnmvemn wbixÿK Ges cwiPvjbv cl©‡`i cÖwZ‡e`b MÖnY, we‡ePbv
I Aby‡gv`b;
2. Ryb 30, 2020 Zvwi‡L mgvß A_©eQ‡ii jf¨vsk †NvlYv;
3. 2020-21 A_©eQ‡ii Rb¨ wbixÿK wb‡qvM I Zuv‡`i cvwikÖwgK wbav©iY;
4. XvKv ÷K G·‡PÄ wjt Gi cwiPvjK wbev©Pb;
5. mfvcwZ g‡nv`‡qi AbygwZ mv‡c‡ÿ Ab¨ †h‡Kvb wel‡q Av‡jvPbv|

cl©‡`i Av‡`kµ‡g

wW‡m¤^i 03, 2020 †gvnv¤§` Avmv`yi ingvb, GdwmGm

gnve¨e¯’vcK I †Kv¤úvwb mwPe

`ªóe¨: 59 Zg evwl©K mvaviY mfvq AskMÖn‡Yi Rb¨:

n K‡c©v‡iU ev cÖvwZôvwbK †kqvi‡nvìvi‡`i hw` we`¨gvb cÖwZwbwa cwieZ©‡bi cÖ‡qvRb nq Zvn‡j †Kv¤úvwb AvBb-1994 Gi
aviv 86 Abyhvqx mfvi wba©vwiZ mg‡qi 48 NÈv ev Zrc~‡e© †kqvi‡nvìvi †Kv¤úvwbi cwiPvjbv cl©` Øviv h_vh_fv‡e Aby‡gvw`Z
†jUvi Ae A‡_vivB‡Rkb †Kv¤úvwb mwPe, XvKv ÷K G·‡PÄ wjwg‡UW, ÷K G·‡PÄ wewìs, 9/Gd, gwZwSj, XvKv-1000-G
WvK‡hv‡M ev mivmwi †cuŠQv‡Z n‡e| Ab¨_vq †mUv MÖnY‡hvM¨ n‡e bv|

n e¨w³MZ †kqvi‡nvìvi Zuvi c‡ÿ cÖw· wb‡qvM Ki‡Z cvi‡eb| †kqvi‡nvìvi‡`i h_vh_fv‡e wmj, ¯^vÿi I cÖ‡qvRbxq As‡Ki
†iwfwbD ÷¨v¤ú m¤^wjZ cÖw· dig †Kv¤úvwb mwPe, XvKv ÷K G·‡PÄ wjwg‡UW, ÷K G·‡PÄ wewìs, 9/Gd, gwZwSj, XvKv-
1000-G WvK‡hv‡M ev mivmwi †cuŠQv‡Z n‡e| Ab¨_vq †mUv MÖnY‡hvM¨ n‡e bv|

n †iKW© †WU: wW‡m¤^i 01, 2020

10 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 NOTICE OF ANNUAL GENERAL MEETING

NOTICE OF THE 59TH ANNUAL GENERAL MEETING

Notice is hereby given that the 59th Annual General Meeting (AGM) of the shareholders of
Dhaka Stock Exchange Limited (DSE) will be held on Monday, December 28, 2020 at 6:15 pm
through digital platform to transact the following businesses:

1. To consider and adopt the Directors’ Report and the Audited Financial Statements of the
DSE for the year ended June 30, 2020 together with the Auditors’ Report thereon;
2. To declare dividend for the year ended June 30, 2020;
3. To appoint Statutory Auditor(s) for the year 2020-21 and to fix their remuneration;
4. To elect Director of the Board of Dhaka Stock Exchange Limited;
5. To transact any other business with the permission of the Chair.

By order of the Board

December 03, 2020 Mohammad Asadur Rahman, FCS

GM & Company Secretary

Note: To attend the 59th AGM:

n Corporate Shareholders are required to comply with the provisions of Section 86 of the Companies
Act, 1994 and produce Letter of Authorization (in case of changing its existing representative)
duly approved by its Board of Directors by post or by hand so as to reach the Company Secretary,
Dhaka Stock Exchange Limited, Stock Exchange Building, 9/F Motijheel C/A, Dhaka-1000 as
soon as possible and, in any event 48 hours before the time fixed for the meeting, otherwise the
same will not be accepted.

n Individual shareholders are required to submit the duly stamped and signed form of proxy/power
of attorney at Dhaka Stock Exchange Limited, Stock Exchange Building, 9/F Motijheel C/A, Dhaka-
1000 not later than 48 hours before the time fixed for the meeting, otherwise the same will not
be accepted.

n The Record Date: December 01, 2020

DSE ANNUAL REPORT n­2019-20

11
 XvKv ÷K G·‡P‡Äi mswÿß weeiYx
OVERVIEW OF DHAKA STOCK EXCHANGE
1952 mv‡j hLb KjKvZv ÷K G·‡P‡Ä cvwK¯Ívwb The necessity of establishing a stock exchange in the
†Kv¤úvwbi †kqvi I wmwKDwiwUR †jb‡`b wbwl× †NvlYv Kiv then East Pakistan was first recognized by the
Government in the early 1952 when the Calcutta Stock
nq ZLb ZrKvjxb c~e© cvwK¯Ívb miKv‡ii mvg‡b Avjv`vfv‡e
Exchange prohibited transactions of Pakistani shares
GKwU ÷K G·‡PÄ cÖwZôvi cÖ‡qvRbxqZv †`Lv †`q| and securities. The Provincial Industrial Advisory Council
cvwK¯Ív‡bi wkímsµvšÍ cÖv‡`wkK civgk©K KvDwÝj of Pakistan formed an organizing committee very soon
ZvrÿwYKfv‡e c~e© cvwK¯Ív‡b GKwU ÷K G·‡PÄ cÖwZôvi for the establishment of a Stock Exchange in East
m¤¢ve¨Zv hvPvB‡qi Rb¨ GKwU KwgwU MVb K‡i| 1953 Pakistan. A decisive step was taken in the second
meeting of the organizing committee held on the 13th
mv‡ji 13 gvP© AbywôZ D³ KwgwUi wØZxq mfvq G wel‡q
March, 1953. In the cabinet room of Eden Building,
P~ovšÍ wm×všÍ MªnY Kiv nq| c~e© evsjv miKv‡ii evwYR¨, kÖg
various aspects of the issue were discussed in detail
Ges wkí wefv‡Mi mwPe G LwjwjÕi mfvcwZ‡Z¡ B‡Wb fe‡bi under the chairmanship of A. Khaleeli, Secretary,
K¨vwe‡bU iæ‡g AbywôZ GK mfvq ÷K G·‡PÄ cÖwZôvi Commerce, Labor and Industries Department of the
wel‡q we¯ÍvwiZ Av‡jvPbv nq| hw`I ZrKvjxb †K›`ªxq miKvi Government of East Bengal. The central government’s
proposal on opening a branch of Karachi Stock
XvKvq KivwP ÷K G·‡P‡Äi GKwU kvLv †Lvjvi cÖ¯Íve
Exchange at Dhaka did not find favor in the meeting as
K‡iwQj| wKš‘ mfvq Dcw¯’Z m`m¨MY c~e© cvwK¯Ív‡b GKwU
attendees of the meeting felt that East Pakistan should
¯^Zš¿ ÷K G·‡PÄ _vKv DwPZ e‡j g‡b K‡iwQ‡jb weavq have an independent Stock Exchange. It was suggested
D³ cÖ¯Íve mg_©b K‡ibwb| mfvq wm×všÍ nq †h, XvKvi that Dacca-Narayanganj Chamber of Commerce &
bvivqYMÄ †P¤^vi Ae Kgvm© GÛ BÛvw÷ªR Zv‡`i cÖ‡Z¨K Industry should approach its members for subscribing
m`m¨‡K cÖ¯ÍvweZ ÷K G·‡PÄ cÖwZôv Ges Gi m`m¨c` Rs. 2000 each to have membership card to be
honorable member of the proposed Stock Exchange. It
jv‡fi Rb¨ 200 iæwc Puv`v cÖ`v‡bi Rb¨ AvnŸvb Rvbv‡e|
was decided that the location of the Exchange should be
wm×všÍ †bqv n‡qwQj †h ¯^Zš¿ GB ÷K G·‡P‡Äi Ae¯’vb anywhere at Dhaka or Narayanganj or Chittagong. An
XvKv, bvivqYMÄ ev PÆMÖv‡gi †h‡Kv‡bv ¯’v‡b n‡e| G·‡PÄ organizing committee consisting of leading commercial
MVb Kivi Rb¨ wgR©v †g‡nw` B¯úvnvwb‡K AvnŸvqK K‡i and industrial personalities of the province was formed
cÖ‡`‡ki wkí I evwY‡R¨ †bZ„¯’vbxq e¨w³‡`i wb‡q GKwU with Mirza Mehdi Ispahani as the convener in order to
organize the proposed Exchange.
KwgwU MVb Kiv nq|

12 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

†P¤^vi Zvi m`m¨ Ges Zv‡`i mv‡_ mshy³ Ab¨vb¨ cÖwZôvb‡K The chamber informed its members and members of its
affiliated associations on the proceedings of the above
mfvi wm×všÍ Rvwb‡q Zviv cÖ¯ÍvweZ ÷K G·‡PÄ MVb Ges
meeting and requested them to intimate whether they
÷K G·‡P‡Äi m`m¨c` jv‡f AvMÖnx wK bv Zv Rvbv‡bvi were interested to be member of the proposed Stock
Aby‡iva K‡i| c‡i 1953 mv‡ji 7 RyjvB †P¤^v‡ii GKwU Exchange. This was followed by a meeting held on July
mfv AbywôZ nq †hLv‡b cÖvq kZvwaK e¨w³ G·‡PÄ MV‡b 07, 1953 at the chamber at which about 100 persons
shown their keen interest in the formation of the
AvMÖn †`Lvq| D³ mfvi AvnŸvqK Gg †g‡nw` B¯úvnvwbmn
Exchange. The meeting proposed 8 gentlemen to be
†gvU AvU Rb e¨w³‡K AMÖYx f~wgKv cvj‡bi Aby‡iva Rvwb‡q promoters of the Exchange with M Mehdi Ispahani as
Zv‡`i cÖ¯ÍvweZ G·‡P‡Äi msN ¯^viK Ges msN wewa ˆZwii the convener and authorized them to draw up the
Ges †Kv¤úvwb AvBb 1913 Gi Aax‡b GwU‡K wbewÜZ Kivi Memorandum and Articles of Association of the
Exchange and to proceed for obtaining Certificate of
D‡`¨vM wb‡Z ejv nq| G·‡P‡Äi Ab¨ 7 Rb AMÖ`~Z wQ‡jb
Incorporation under the Companies Act, 1913. The
†R Gg GwWmb ¯‹U, †gvnv¤§` nvwbd, G wm ˆRb, G †K Lvb, other 7 promoters of the Exchange were J. M. Addision-
Avãyj Rwjj, Gg mvweŸi Avn‡g` Ges mvLvIqvZ †nv‡mb| Scott, Mohamed Hanif, A. C. Jain, A. K. Khan, Abdul
Jalil, M. Shabbir Ahmed and Sakhawat Hossain.
D³ mfvq AviI wm×všÍ †bqv nq †h, G·‡P‡Äi m`m¨ wd
It was also decided that membership fee would be Rs.
2000 iæwc Ges gvwmK Puv`v 15 iæwc n‡e| G·‡P‡Äi m`m¨
2,000 and subscription would be at the rate of Rs. 15
msL¨v 150 R‡bi g‡a¨ mxgve× _vK‡e| 1953 mv‡ji 3 per month. The Exchange would be consisted of not
†m‡Þ¤^i AbywôZ †P¤^v‡ii GK mfvq wm×všÍ †bqv nq †h, more than 150 members. On September 03, 1953 a
Ab¨vb¨ †`‡ki ÷K G·‡P‡Äi cÖPwjZ wbqg¸‡jv Ges †`kxq meeting of the promoters held at the chamber where it
was decided to appoint Orr Dignam & Co. as the
wbqg-bxwZ¸‡jv we‡ePbvq †i‡L msN ¯^viK Ges msN wewa
solicitor to draw up the Memorandum and Articles of
ˆZwii Rb¨ Iii wWMbvg GÛ †Kvs-†K AvBbÁ wn‡m‡e wb‡qvM Association of the Stock Exchange based on the
Kiv n‡e| prevailing rules of the Stock Exchanges in other countries
and taking into account the local conditions.
cÖeZ©Kiv 1954 mv‡ji 28 GwcÖj c~e© cvwK¯Ívb ÷K G·‡PÄ
The promoters incorporated the formation under the
G‡mvwm‡qkb wjwg‡UW bv‡g G·‡PÄ MV‡bi cÖwµqv m¤úbœ
name as the East Pakistan Stock Exchange Association
K‡ib| Limited on April 28, 1954.
cÖwZôvi ïiæ‡Z G·‡P‡Äi Aby‡gvw`Z g~jab wQj 3,00,000 At the time of incorporation, the authorized capital of
iæwc, hv 150wU †kqv‡i wef³ wQj Ges cÖwZwUi g~j¨ wQj the Exchange was Rs. 3,00,000 divided into 150 shares
of Rs. 2,000 each. The authorized capital of the
2,000 iæwc| 1964 mv‡ji 22 †deªæqvwi GKwU we‡kl
Exchange was increased to Rs. 5,00,000 divided into
mvaviY mfvq G·‡P‡Äi Aby‡gvw`Z g~jab e„w× K‡i 250 shares of Rs. 2,000 each by an Extraordinary
5,00,000 iæwc nq, hv 2,000 iæwc g~j¨gv‡bi 250wU General Meeting held on February 22, 1964. The paid
up capital of the Exchange reached to BDT 5,00,000
†kqv‡i wef³| 2013 mv‡ji 21 b‡f¤^i wWGmB GKwU
divided into 250 shares of BDT 2,000 each by
wWwgDPz¨qvjvBRW ÷K G·‡PÄ wn‡m‡e 2,500,00,00,000 subscribing its 250th membership in April, 2013. The
†kqv‡i wef³ cÖwZwU 10 UvKv g~‡j¨i 25,000,00,00,000 Exchange started its journey as a Demutualized Stock
Aby‡gvw`Z g~jab I 1803,77,65,000 (AvVv‡iv kZ wZb Exchange from November 21, 2013 with the Authorized
Share Capital of BDT 2500,00,00,000 (Taka two
†KvwU mvZvËi jÿ cuqkwÆ nvRvi) UvKvi cwi‡kvwaZ g~jab
thousand five hundred crore) divided into
wb‡q Gi hvÎv ïiæ K‡i| 250,00,00,000 (Two hundred fifty crore) Shares of BDT

DSE ANNUAL REPORT n­2019-20

13
 1954 mv‡j ÷K G·‡PÄ cÖwZwôZ n‡jI, 1956 mv‡j 10 each and the paid-up capital of BDT
e¨emvwqK †jb‡`b ïiæ Kivi AbygwZcÎ cvevi ci 1803,77,65,000 (Taka eighteen hundred three crore
seventy seven lac and sixty five thousand) only.
bvivqYM‡Ä ÷K G·‡P‡Äi AvbyôvwbK Kvh©µg Pvjy nq|
Although incorporated in 1954, the formal trading of
1958 mv‡j GwU XvKvq ¯’vbvšÍwiZ n‡q gwZwSj evwYwR¨K
the Exchange started in 1956 at Narayanganj after
GjvKvi bvivqYMÄ †P¤^vi wewìs G KvR ïiæ K‡i|
obtaining the Certificate of Commencement of Business.
1957 mv‡ji 1 A‡±vei, ÷K G·‡PÄ miKv‡ii KvQ †_‡K It was shifted to Dhaka in 1958 and started functioning
XvKvi 9/Gd gwZwSj evwYwR¨K GjvKvq 8.75 KvVv Rwg at the Narayangonj Chamber Building situated at
Motijheel C/A.
wK‡b †bq Ges 1959 mv‡j G·‡P‡Äi wbR¯^ fe‡b ¯’vbvšÍwiZ
nq| On October 01, 1957, the Stock Exchange purchased
a land measuring 8.75 katha at 9/F Motijheel C/A,
1962 mv‡ji 23 Ryb †Kv¤úvwbi bvg B÷ cvwK¯Ívb ÷K Dhaka from the Government and shifted to its own
G·‡PÄ wjwg‡UW wn‡m‡e cwiewZ©Z nq| c‡i 1964 mv‡ji present location in 1959.
14 †g B÷ cvwK¯Ívb ÷K G·‡PÄ wjwg‡UW ÒXvKv ÷K However, the name of the company was changed to East
G·‡PÄ wjwg‡UWÓ bv‡g cwiewZ©Z nq| Pakistan Stock Exchange Limited on June 23, 1962.
Again on May 14, 1964, the name of East Pakistan
gvSLv‡b gyw³hy‡×i mgq G·‡P‡Äi †UªwWs ¯’wMZ _v‡K Ges
Stock Exchange Limited was changed to "Dacca Stock
gyw³hy‡×i c‡i 1976 mv‡ji 16 AvM÷ cybivq Pvjy nq|
Exchange Limited."
1998 mv‡ji 10 AvM÷ ÷K G·‡P‡Ä ¯^qswµq †UªwWs c×wZ
The trading of the exchange was suspended due to
Pvjy nq Ges AvaywbK cÖhwy ³wfwËK †UªwWs c×wZ bZzb cwim‡i liberation war and resumed on August 16, 1976 after
cÖ‡ek K‡i| the independence of our country.

2004 mv‡ji 24 Rvbyqvwi‡Z G·‡P‡Äi †jb‡`b c×wZ‡Z On August 10, 1998, the Stock Exchange introduced
cwieZ©b Av‡m hv Kv¸‡R †kqvi‡K B‡jKUªwbK †kqv‡i Automated Trading System and entered into the new
iƒcvšÍwiZ K‡i bZzb I AvaywbK †jb‡`b c×wZ †m›Uªvj horizon of modern technology based Trading System.

wW‡cvwRUwi wm‡÷‡gi mv‡_ hy³ nq| 2005 mv‡ji 1 On January 24, 2004, the trading system of the
Rvbyqvwi ÒmiKvwi eÛÓ Gi †jb‡`b Pvjy nq, hv G·‡P‡Ä Exchange integrated with the Central Depository System,
a new hub of modernization of trading system replacing
bZzb m¤¢vebv ˆZwi K‡i †`q|
paper based shares with electronic based shares. The
2006 mv‡ji 12 GwcÖj wW‡i± wjw÷s †i¸‡jkbm Aby‡gvw`Z trading of ‘Government Bond’ started on January 1,
nq, hv cyuwRevRv‡i wmwKDwiwURmg~‡ni ZvwjKvfzw³i †ÿ‡Î 2005, which created new opportunity for the Exchange.
GK ˆecøweK cwieZ©b G‡b †`q| 2010 mv‡j eyK-wewìs Direct Listing Regulations, 2006 was approved on April
c×wZ, cyuwRevRv‡i wmwKDwiwUR Gi ZvwjKvfzw³ c×wZ‡Z 12, 2006, which brought about a revolutionary change in
GKwU bZzb w`MšÍ D‡b¥vPb K‡i| the listing of securities in the capital market. Book-Building
method, a new invention of the listing method of securities
2013 mv‡ji 28 Rvbyqvwi‡Z GmGÛwc WvI †RvÝ BbwW‡mm, in capital market was approved in the year 2010.
GKwU mycwiwPZ Bb‡W· mvwf©m cÖfvBWvi Øviv ˆZwiK„Z
DSE Broad Index (DSEX) and DSE 30 Index (DS30)
wWGmB eªW Bb‡W· (wWGmBG·) Ges wWGmB 30 Bb‡W· developed by S&P Dow Jones Indices, a renowned Index
(wWGm30) G·‡P‡Ä Pvjy Kiv nq| wWGmB 2013 mv‡ji 18 Service Provider were introduced in the Exchange on
†deªæqvwi‡Z Bs‡iwR I‡qemvB‡Ui cvkvcvwk evsjv I‡qemvBU January 28, 2013. DSE initiated Bangla Website in
addition to English Website on February 18, 2013. DSE
Pvjy K‡i| 2014 mv‡ji 20 Rvbyqvwi wWGmB kixqvn
Shariah Index (DSES), a newly developed and mostly
Bb‡W·‡K GKwU DbœZ Ges m‡ev©”P Acv‡iwUf Bb‡W· operative Index was brought in the Exchange on January
wn‡m‡e G·‡P‡Ä Avbv nq| 20, 2014.

14 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

cyuwRevRv‡ii †jb‡`b mv‡f©B‡j‡Ýi Rb¨ 2014 mv‡ji 11 Instant Watch Market Surveillance Software developed
†deªæqvwi‡Z wWGmBÕi mv‡f©B‡jÝ wm‡÷‡g wek¦weL¨vZ by Trapets AB, a world famous capital market related
cyuwRevRvi welqK mdUIq¨vi D™¢veK Uªv‡cUm Gwe KZ„©K software developer was installed on February 11, 2014
D™¢vweZ BÝ›U¨v›U IqvP gv‡K©U mv‡f©B‡jÝ mdUIq¨vi Pvjy in the main stream of Surveillance System of DSE for

Kiv nq| surveillance of the transactions of capital market. X-

streamINET the matching engine and FlexTP the Order
wek¦weL¨vZ †UªwWs BwÄb I IGgGm mieivnKvix cÖwZôvb
Management System (OMS) were developed and
h_vµ‡g bvmWvK I †d¬·‡Uª‡Wi mnvqZvq 2014 mv‡ji 11
installed by Nasdaq and Flextrade respectively, the world
wW‡m¤^i weiwZnxbfv‡e cÖwZ †m‡K‡Ð 2000 AW©vi Ges 1000 famous trading engine and OMS provider on December
†jb‡`‡bi ÿgZv m¤úbœ G·wUªgAvB‡bU g¨vwPs BwÄb Ges 11, 2014 for accommodating 2000 orders and 1000
†d¬·wUwc AWv©i g¨v‡bR‡g›U wm‡÷g (IGgGm) Pvjy Kiv nq| transactions per second without any interruption. DSE
wWGmB †gvevBj A¨vc ÒwWGmB Bb‡dvÓ 2015 mv‡ji 25 launched Mobile APP “DSE INFO” and DSE-Mobile on
b‡f¤^i Ges ÒwWGmB-†gvevBjÓ 2016 mv‡ji 9 gvP© Pvjy November 25, 2015 and March 09, 2016 respectively
n‡q cywu RevRvi‡K wWwRUvjvB‡Rk‡bi bZzb hy‡M cÖ‡ek K‡i| and thus entered into the new era of digitalization for
2016 mv‡ji 30 A‡±ve‡i AvBGmI mvwU©wd‡Kkb ewW, capital market.
GmwRGm wjwg‡UW wWGmB‡K AvBGmI 9001 : 2008 On October 30, 2016, the ISO Certification Body, SGS
wnmv‡e bw_fz³ K‡i Ges 2018 mv‡ji 8 Ryb GmwRGm Limited issued to DSE the ISO 9001:2008 and SGS
wjwg‡UW D³ mvwU©wd‡Kkb‡K 9001 : 2015 wn‡m‡e DbœxZ Limited upgraded the said certification to 9001:2015 on
K‡i| June 8, 2018.

2017 mv‡ji 6 Ryb wWGmB WweøDGdB Gi m`m¨c` AR©b DSE obtained the Membership of WFE on June 06,
K‡i, hv wWGmBÕi fveg~wZ©‡K D¾¡j K‡i‡Q| GB m`m¨c‡`i 2017, which uplifted the image of DSE. Through this
gva¨‡g we‡k¦i kxl©¯’vbxq G·‡P‡Äi g‡a¨ wWGmB Zvi wb‡Ri membership, DSE has established its own significant

ghv©`vc~Y© ¯’vb cÖwZôv K‡i‡Q| place among the leading Exchanges of the globe.

2018 mv‡ji 14 †g, G·‡P‡Äm wWwgDPzqvjvB‡Rkb AvBb In compliance with the Exchanges Demutualization Act,

2013 Abyhvqx XvKv ÷K G·‡PÄ wjwg‡UW (wWGmB) Gi 2013, Share Purchase Agreement (SPA) executed
between Dhaka Stock Exchange Limited (DSE) and the
mv‡_ †kb‡Rb ÷K G·‡PÄ (Gm‡RWGmB) Ges mvsnvB ÷K
consortium of Shenzhen Stock Exchange (SZSE) and
G·‡PÄ (GmGB) Gi Kb‡mvwU©qvg †KŠkjMZ Askx`vi
Shanghai Stock Exchange (SSE), the Strategic Investors
wn‡m‡e †kqvi µq Pzw³ ¯^vÿwiZ nq| 2018 mv‡ji 4
of DSE on May 14, 2018. DSE Shares were transferred
†m‡Þ¤^i wWGmB †kqvi †KŠkjMZ Askx`vi‡`i wbKU to the Strategic Investors on September 04, 2018 and
n¯ÍvšÍwiZ nq Ges †mB GKB w`‡b Kb‡mvwU©qv‡gi cÖwZwbwa the representative of the consortium, Mr. Xie Wenhai
wn‡m‡e wg. wk‡q I‡qbnvB wWGmB cwiPvjbv cl©‡`i m`m¨ included as a member of the Board of DSE on the same
wn‡m‡e AšÍ©fz³ nb| Aweivg c`‡ÿc Ges †KŠkjMZ day. DSE, with the relentless initiatives and association
Askx`vi‡`i mnvqZvq Dcgnv‡`‡k kxl©¯’vbxq G·‡PÄ of strategic investors, is thriving to be a leading
wn‡m‡e wWGmB GwM‡q hv‡”Q| Exchange in this region.

30 wW‡m¤^i 2019 Zvwi‡L evsjv‡`k cywu RevRv‡ii e„nr evRvi CNI-DSE Select Index (“CDSET”) was launched on
g~ja‡bi cÖwZwbwaZ¡Kvix I wewb‡qvM‡hvM¨ †Kv¤úvwbi mgš^‡q December 30, 2019 that represents the largest
wmGbAvB-wWGmB wm‡j± Bb‡W· ("wmwWGmBwU") D‡Øvab percentage of capitalization of the investable universe
Kiv nq| of Bangladesh Capital Market.

DSE ANNUAL REPORT n­2019-20

15
 †cÖwm‡W›U / †Pqvig¨vbe„›`
PRESIDENTS / CHAIRMEN

Ahmad Fazlur Rahman (D) Khurshid Alam (D) Nur-e-alam Siddique Khwaja Abdul Quddus
Chairman Chairman Chairman Chairman
1972 - 1975 27 Feb 1976 - 06 Aug 1979 06 Aug 1979 - 06 Nov 1980 06 Nov 1980 - 18 Mar 1981
24 Mar 1983 -18 Dec 1985 18 Mar 1981 - 22 Dec 1981 22 Dec 1981 - 24 Mar 1983
07 Oct 1993 - 06 Dec 1995 23 Mar 1990 - 20 Jun 1991

Imtiyaz Husain (D) M.A. Huq Howlader Md. Rakibur Rahman

Chairman Chairman Chairman
06 Dec 1995 - 11 May 1997 11 May 1997 - 24 Dec 1997 24 Dec 1997 - 30 Mar 2000
President
28 Feb 2009 - 27 Mar 2010
15 Mar 2012 - 15 Jun 2013

Abdul Haque Md. Shakil Rizvi Ahasanul Islam Titu

President President President
15 May 2008 - 28 Feb 2009 27 Mar 2010 - 15 Mar 2012 15 Jun 2013 - 13 Feb 2014

* D - Deceased

16 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 Hemayet Uddin Ahmed Kazi Firoz Rashid Aminul Islam Khan (D)
Chairman Chairman Chairman
18 Dec 1985 - 06 Jan 1987 06 Jan 1987 - 23 Mar 1990 20 Jun 1991 - 07 Oct 1993

Md. Shahiq Khan Ahmed Iqbal Hasan Md. Abdullah Bokhari

Chairman Chairman President
30 Mar 2000 - 28 Mar 2002 28 Mar 2002 - 28 Dec 2003 07 Feb 2006 - 15 May 2008
President President
17 Feb 2005 - 07 Feb 2006 28 Dec 2003 - 17 Feb 2005

Justice Siddiqur Rahman Miah Prof. Dr. Abul Hashem Md. Eunusur Rahman
Chairman Chairman Chairman
14 Feb 2014 - 13 Feb 2017 14 Feb 2017 - 12 Feb 2020 24 Feb 2020 ...

DSE ANNUAL REPORT n­2019-20

17
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

GB ¯^vaxbZv ZLwb Avgvi Kv‡Q cÖKZ

… ¯^vaxbZv
n‡q DV‡e, †hw`b evsjvi K…lK-gRyi I `ytLx gvby‡li
mKj `yt‡Li Aemvb n‡e
- RvwZi RbK e½eÜz†kL gywReyi ingvb
 cwiPvjbv cl©`
BOARD OF DIRECTORS

Md. Eunusur Rahman

Chairman

Prof. Md. Masudur Rahman, PhD Brigadier General Md Mostafizur Mrs. Salma Nasreen ndc Md. Muntakim Ashraf
Independent Director Rahman, hdmc, afwc, psc, PhD Independent Director Independent Director
Independent Director

Habibullah Bahar Professor A. K. M. Masud, PhD Md. Rakibur Rahman Md. Shakil Rizvi
Independent Director Independent Director Shareholder Director Shareholder Director

Mohammad Shahjahan Md. Siddiqur Rahman Xie Wenhai Kazi Sanaul Hoq
Shareholder Director Shareholder Director Shareholder Director MD & Ex-Officio Director

DSE ANNUAL REPORT n­2019-20

19
 K‡c©v‡iU B‡f›Um
CORPORATE EVENTS

24 January 2004
Central Depository System

01 January 2005
Government Bond Market

12 April 2006
Direct Listing Regulations, 2006

2010
Book-Building Method

to
to

28 January 2013
DSE Broad Index (DSEX) &
DSE 30 Index (DS30)
28 April 1954
Incorporated as East Pakistan 18 February 2013
Stock Exchange Association Limited Bangla Website
1956 29 April 2013
Formal Trading The Exchanges
Demutualization Act, 2013
14 May 1964
Renamed as Dacca Stock Exchange Limited 21 November 2013
Demutualization of DSE
16 August 1976
Trading restarted after Independence

10 August 1998
Automated Trading

20 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
20 January 2014
DSE Shariah Index (DSES)

11 February 2014
InstantWatch Market
Surveillance Software

11 December 2014
X-stream INET and DSE FlexTP 30 April 2019
Trading System Inauguration of
DSE SME Platform
25 November 2015
Mobile App “DSE INFO” 30 December 2019
CNI-DSE Select Index (CDSET)
09 March 2016
DSE-Mobile

to
to
to

06 June 2017
WFE Membership

14 May 2018
Agreement signed with the
consortium of SSE and SZSE
as Strategic Investors
07 June 2018
Partnering with UN SSE
08 June 2018
Upgrade ISO 9001:2015

04 September 2018
Share transferred to Strategic Investors
and Inclusion of their representative
as Board Member

DSE ANNUAL REPORT n­2019-20

21
 jÿ¨ I D‡Ïk¨
VISION & MISSION

Vision

G A‡ji kxl©¯v’ bxq G·‡PÄ nIqv Ges AZ¨vaywbK wkí cÖhwy ³i e¨env‡ii gva¨‡g
A_©‰bwZK DbœwZi g~j PvwjKvkw³ nIqv, †mB mv‡_ mswkøó mK‡ji Rb¨ wek^ gv‡bi
†mevi gva¨‡g m‡e©v”P Av¯’v wbwðZ Kiv|
To be the leading exchange in the region and a key driver of
economic growth with state-of-art technology and world class
service to ensure highest level of confidence among
stakeholders.

22 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
Mission

µgea©gvb cÖhwy ³i DbœwZi MwZkxjZvi mv‡_ `ÿZv Ges bZzb cY¨ cÖeZ©‡bi gva¨‡g
†mev cÖ`v‡bi mwµq c`‡ÿc MÖnY|
-------------------------------------------------------------------

m¤ú` m„wói gva¨‡g †`‡ki A_©‰bwZK cÖe„wׇZ Ae`vb ivLv, †mB mv‡_ Mfxi I
cÖevngvb evRv‡ii gva¨‡g g~jab †hvMvb wbwðZ Kiv|
------------------------------------------------------------------

wewb‡qvMKvix, wbqš¿K ms¯’v, ZvwjKvfz³ †Kv¤úvwb, KZ©„cÿ I evRv‡i ga¨¯’

Kvievixi AvZ¥wek^v‡mi DbœwZ‡Z D”PZi cÖvwZôvwbK mykvmb wbwðZ Kiv|

Proactive approach to keep pace with continuous technological

advancement and providing highest standard of service through
efficiency improvement and introduction of new products.
-------------------------------------------------------------------

Contributing to country’s economic growth through creation of

wealth, facilitating access to capital and penetrating untapped
market.
------------------------------------------------------------------

Superior corporate governance to enhance confidence of

investors, regulators, issuers and intermediaries.

DSE ANNUAL REPORT n­2019-20

23
 cÖvwZôvwbK Z_¨
CORPORATE INFORMATION
cwiPvjbv cl©` BOARD OF DIRECTORS

¯^Zš¿ cwiPvjKe„›` Independent Directors

†gvt BDbymyi ingvb (†Pqvig¨vb) Md. Eunusur Rahman (Chairman)
Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW Professor Md. Masudur Rahman, PhD
weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb, GBPwWGgwm, Brigadier General Md Mostafizur Rahman,
GGdWweøDwm, wcGmwm, wcGBPwW hdmc, afwc, psc, PhD
wg‡mm mvjgv bvmixb GbwWwm Mrs. Salma Nasreen ndc
†gvt gybZvwKg Avkivd Md. Muntakim Ashraf
nvweeyjøvn evnvi Habibullah Bahar
Aa¨vcK G. †K. Gg. gvmy`, wcGBPwW Professor A. K. M. Masud, PhD

†kqvi‡nvìvi cwiPvjKe„›` Shareholder Directors

†gvt iwKeyi ingvb Md. Rakibur Rahman
†gvt kvwKj wiRfx Md. Shakil Rizvi
†gvnv¤§` kvnRvnvb Mohammad Shahjahan
†gvt wmwÏKzi ingvb Md. Siddiqur Rahman
wk‡q I‡qbnvB (†KŠkjMZ wewb‡qvMKvix) Xie Wenhai (From Strategic Investors)

e¨e¯’vcbv cwiPvjK Managing Director

KvRx QvbvDj nK Kazi Sanaul Hoq

Rbve wgbnvR gvbœvb Bgb-Gi cwiPvjK c`wU 02 †m‡Þ¤^i 2020 Zvwi‡L The office of director of Mr. Minhaz Mannan Emon was
AvBwb cÖwµqvq k~b¨ nq| cwiPvjbv cl©` Rbve †gvt wmwÏKzi ingvb‡K vacated by operation of law on September 02, 2020. The
wb‡qvM w`‡q cwiPvj‡Ki k~b¨ c`wU c~iY K‡ib| Board of Directors filled in the vacated post of Director by
appointing Mr. Md. Siddiqur Rahman.

wWGmB e¨e¯’vcbv DSE MANAGEMENT

KvRx QvbvDj nK Kazi Sanaul Hoq

e¨e¯’vcbv cwiPvjK Managing Director

Ave`yj gwZb cvUIqvix, GdwmGgG Abdul Matin Patwary, FCMA

cÖavb Avw_©K Kg©KZ©v Chief Financial Officer (CFO)

†gvt wRqvDj Kwig Md. Ziaul Karim

cÖavb cÖhyw³ Kg©KZ©v Chief Technology Officer (CTO)

Gg. mvBdzi ingvb gRyg`vi, GdwmG, GdwmGgG M. Shaifur Rahman Mazumdar, FCA, FCMA
cÖavb cwiPvjb Kg©KZ©v Chief Operating Officer (COO)

†gvt QvwgDj Bmjvg Md. Samiul Islam

gnve¨e¯’vcK (gvbem¤ú` I cÖkvmb) General Manager (HR & Admin)

†gvnv¤§` Avmv`yi ingvb, GdwmGm Mohammad Asadur Rahman, FCS

gnve¨e¯’vcK I †Kv¤úvwb mwPe General Manager & Company Secretary

†gvt Ave`yj jwZd Md. Abdul Latif

Dc-gnve¨e¯’vcK I cÖavb wbqš¿K Kg©KZ©v (PjwZ `vwqZ¡) Deputy General Manager & CRO (Current Charge)

24 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 cl©` KwgwUmg~n BOARD COMMITTEES

g‡bvbqb I cvwi‡ZvwlK KwgwU Nomination and Remuneration Committee

†Pqvig¨vb Chairman
Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW Professor Md. Masudur Rahman, PhD
m`m¨e„›` Members
weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb, Brig. Gen. Md Mostafizur Rahman, hdmc, afwc, psc, PhD
GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
Mrs. Salma Nasreen ndc
wg‡mm mvjgv bvmixb GbwWwm
Md. Rakibur Rahman
†gvt iwKeyi ingvb
e¨e¯’vcbv cwiPvjK Managing Director

wbqš¿Y welqK KwgwU Regulatory Affairs Committee

†Pqvig¨vb Chairman
nvweeyjøvn evnvi Habibullah Bahar
m`m¨e„›` Members
Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW Professor Md. Masudur Rahman, PhD
weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb,
Brig. Gen. Md Mostafizur Rahman, hdmc, afwc, psc, PhD
GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
Chief Regulatory Officer
cÖavb wbqš¿K Kg©KZ©v

Audit and Risk Management Committee

wbixÿv I SuywK e¨e¯’vcbv KwgwU
†Pqvig¨vb Chairman
wg‡mm mvjgv bvmixb GbwWwm Mrs. Salma Nasreen ndc
m`m¨e„›` Members
Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW Professor Md. Masudur Rahman, PhD
†gvt gybZvwKg Avkivd Md. Muntakim Ashraf
†gvnv¤§` kvnRvnvb Mohammad Shahjahan
e¨e¯’vcbv cwiPvjK Managing Director

Avwcjm&& KwgwU Appeals Committee

†Pqvig¨vb
Chairman
weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb,
Brig. Gen. Md Mostafizur Rahman, hdmc, afwc, psc, PhD
GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
m`m¨e„›` Members
wg‡mm mvjgv bvmixb GbwWwm Mrs. Salma Nasreen ndc
Aa¨vcK G. †K. Gg. gvmy`, wcGBPwW Professor A. K. M. Masud, PhD
†gvnv¤§` kvnRvnvb Mohammad Shahjahan

we‡iva wb®úwË KwgwU Conflict Mitigation Committee

†Pqvig¨vb Chairman
Aa¨vcK G. †K. Gg. gvmy`, wcGBPwW Professor A. K. M. Masud, PhD
m`m¨e„›`
Members
weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb,
Brig. Gen. Md Mostafizur Rahman, hdmc, afwc, psc, PhD
GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
†gvt gybZvwKg Avkivd Md. Muntakim Ashraf
†gvt kvwKj wiRfx Md. Shakil Rizvi
e¨e¯’vcbv cwiPvjK Managing Director

DSE ANNUAL REPORT n­2019-20

25
 wbewÜZ Kvh©vjq REGISTERED OFFICE
9/Gd gwZwSj ev/G, XvKv-1000, evsjv‡`k 9/F Motijheel C/A, Dhaka-1000, Bangladesh
&: +880-2-9564601, 9576210-18 &: +880-2-9564601, 9576210-18
7: +880-2-9564727 7: +880-2-9564727
*: [email protected] *: [email protected]
I‡qemvBU: www.dse.com.bd, Website: www.dse.com.bd,
www.dsebd.org www.dsebd.org

e¨vsKmg~n BANKERS
wK¬qvwis Kvh©µg Clearing Operation
wmwU e¨vsK wjwg‡UW City Bank Limited
Avj-Avivdvn Bmjvgx e¨vsK wjwg‡UW Al-Arafah Islami Bank Limited
Iqvb e¨vsK wjwg‡UW One Bank Limited
AvBGdAvBwm e¨vsK wjwg‡UW IFIC Bank Limited
†mvm¨vj Bmjvgx e¨vsK wjwg‡UW Social Islami Bank Limited
÷¨vÛvW© PvU©vW© e¨vsK wjwg‡UW Standard Chartered Bank Limited
iƒcvjx e¨vsK wjwg‡UW Rupali Bank Limited
c~evjx e¨vsK wjwg‡UW Pubali Bank Limited

BGmGm Kvh©µg ESS Operation

AvBGdAvBwm e¨vsK wjwg‡UW IFIC Bank Limited
†mvm¨vj Bmjvgx e¨vsK wjwg‡UW Social Islami Bank Limited
wmwU e¨vsK wjwg‡UW City Bank Limited
wgDPzqvj Uªv÷ e¨vsK wjwg‡UW Mutual Trust Bank Limited
B÷vb© e¨vsK wjwg‡UW Eastern Bank Limited
Gwe e¨vsK wjwg‡UW AB Bank Limited

mvaviY Kvh©µg General Operation

wmwU e¨vsK wjwg‡UW City Bank Limited
B÷vb© e¨vsK wjwg‡UW Eastern Bank Limited
÷¨vÛvW© PvU©vW© e¨vsK wjwg‡UW Standard Chartered Bank Limited
iƒcvjx e¨vsK wjwg‡UW Rupali Bank Limited

Ab¨vb¨ Kvh©µg Other Operation

wmwU e¨vsK wjwg‡UW City Bank Limited
WvP-evsjv e¨vsK wjwg‡UW Dutch-Bangla Bank Limited
AvBGdAvBwm e¨vsK wjwg‡UW IFIC Bank Limited
Iqvb e¨vsK wjwg‡UW One ank Limited
Uªv÷ e¨vsK wjwg‡UW Trust Bank Limited

26 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
 exgv INSURANCE

evsjv‡`k †Rbv‡ij BÝy¨‡iÝ †Kv¤úvwb wjwg‡UW Bangladesh General Insurance Company Limited
†Wëv jvBd BÝy¨‡iÝ †Kv¤úvwb wjwg‡UW Delta Life Insurance Company Limited
B÷j¨vÛ BÝy¨‡iÝ †Kv¤úvwb wjwg‡UW Eastland Insurance Company Limited
MÖxb †Wëv BÝy¨‡iÝ †Kv¤úvwb wjwg‡UW Green Delta Insurance Company Limited
wijv‡qÝ BÝy¨‡iÝ wjwg‡UW Reliance Insurance Limited
BDbvB‡UW BÝy¨‡iÝ †Kv¤úvwb wjwg‡UW United Insurance Company Limited

AvBwb civgk©K LEGAL ADVISORS

†gvnv¤§` kwdKzi ingvb Muhammad Shafiqur Rahman

e¨vwi÷vi-GU-j Barrister-at-Law
AvBbRxex, evsjv‡`k mywcÖg †KvU© Advocate, Bangladesh Supreme Court
W. Gg Rwni GÛ G‡mvwm‡qUm DR M ZAHIR & ASSOCIATES
iæg bs 102 Room No.102
mywcÖg †KvU© evi G‡mvwm‡qkb feb, XvKv Supreme Court Bar Association Building, Dhaka
†P¤^vi: evwo bs 50, moK bs 11G Chamber: House No. 50 Road No. 11A
avbgwÛ, XvKv Dhanmondi, Dhaka
†dvb: +880-2-9554985, 01552366609 Phone: +880-2-9554985, 01552366609

Ki civgk©K TAX CONSULTANT

†nv`v fvwm †PŠayix GÛ †Kvs Hoda Vasi Chowdhury & Co.

PvU©vW© GKvD›U¨v›Um Chartered Accountants
wewUGgwm feb (8g I 9g Zjv) BTMC Bhaban (7th & 8th Floor)
7-9 KvIivb evRvi, XvKv-1215 7-9 Kawran Bazar, Dhaka-1215

mswewae× wbixÿK STATUTORY AUDITOR

G. Kv‡kg GÛ †Kvs A. Qasem & Co.
PvU©vW© GKvD›U¨v›Um Chartered Accountants
¸jkvb wcsK wmwU, cøU bs 15 Gulshan Pink City, Plot No. 15
†ivW bs 103, ¸jkvb GwfwbD Road No. 103, Gulshan Avenue
XvKv-1212 Dhaka-1212
†dvb: +880-2-8881824-6 Phone : +880-2-8881824-6
d¨v·: +880-2-8881822 Fax: +880-2-8881822

DSE ANNUAL REPORT n­2019-20

27
 cwiPvjK‡`i †cÖvdvBj
DIRECTORS’ PROFILE

†gvt BDbymyi ingvb - †Pqvig¨vb

†Pqvig¨vb wn‡m‡e wbe©vwPZ nIqvi ZvwiL
†deªæqvwi 24, 2020

Md. Eunusur Rahman - Chairman

Elected as the Chairman
on February 24, 2020

†gvt BDbymyi ingvb evsjv‡`k wmwfj mvwf©m-Gi (cÖkvmb Md. Eunusur Rahman is a retired officer of Bangladesh
K¨vWvi) AemicÖvß GKRb Kg©KZ©v| wZwb wWGmB‡Z Civil Service (Administration cadre) . Prior to joining
†hvM`v‡bi c~‡e© hy³iv‡R¨i wWGdAvBwWÕi (wWcvU©‡g›U di DSE, Md. Eunusur Rahman worked as Senior Policy
Advisor of a UK–DFID (Department for International
B›Uvib¨vkbvj †W‡fjc‡g›U) A_©vq‡b ÔweR‡bm dvBb¨vÝ di
Development) funded project titled ‘Business Finance
cyIi Bb evsjv‡`kÕ (weGdwc-we) kxl©K cÖK‡íi †R¨ô cwjwm for poor in Bangladesh (BFP-B).
G¨vWfvBRvi wn‡m‡e Kg©iZ wQ‡jb|
Md. Eunusur Rahman was born in Barisal district in the
Rbve ingvb 1959 m‡b ewikvj †Rjvq Rb¥MÖnY K‡ib| wZwb year 1959. He secured second and third positions in
1975 I 1977 m‡b h‡kvi wk¶v †ev‡W©i Aax‡b AbywôZ S.S.C and H.S.C examination held in 1975 and 1977
GmGmwm I GBPGmwm cixÿvq h_vµ‡g wØZxq I Z„Zxq ¯’vb respectively. He obtained his graduation with (Honors)
AwaKvi K‡ib| wZwb 1980 I 1981 m‡b XvKv wek¦we`¨vjq and Master’s in Accounting from the University of
Dhaka in 1980 and 1981 respectively securing First
n‡Z wnmve weÁv‡b 1g †kªbx‡Z h_vµ‡g mœvZK (m¤§vb) Ges
Class in both the examinations. He had a Post Graduate
mœvZ‡KvËi wWMÖx jvf K‡ib| wZwb d«v‡Ýi c¨vwi‡m Aew¯’Z Diploma in Public Management from International
B›Uvib¨vkbvj Bbw÷wUDU Ae cvewjK A¨vWwgwb‡÷ªkb †_‡K Institute of Public Administration (IIAP), Paris, France. He
cvewjK g¨v‡bR‡g‡›U mœvZ‡KvËi wW‡cøvgv AR©b K‡ib| also obtained MBA degree from Southern Cross
GQvovI wZwb A‡÷ªwjqvi mvD`vb© µm BDwbfvwm©wU †_‡K University, Australia.
GgweG wWwMÖ AR©b K‡ib| He joined Bangladesh Civil Service (BCS) Administration
Rbve ingvb 1983 m‡b evsjv‡`k wmwfj mvwf©‡m (wewmGm) cadre in June 1983 and since then served more than
cÖkvmb K¨vWv‡i †hvM`vb K‡ib Ges evsjv‡`k miKv‡ii ¯’vbxq 35 years in different positions of local and central
administration and in autonomous bodies of
I †K›`ªxq cÖkvmb Ges ¯^vqZ¡kvwmZ ms¯’vq wewfbœ c‡` 35
Bangladesh Government. He served as Senior
eQ‡ii †ewk mgq `vwqZ¡ cvjb K‡ib| wZwb A_© gš¿Yvj‡qi Secretary, Financial Institutions Division (FID), Ministry
Avw_©K cÖwZôvb wefv‡Mi wmwbqi mwPe, K…wl gš¿Yvj‡qi mwPe of Finance (MOF); Secretary, Ministry of Agriculture and
Ges evsjv‡`k †c‡Uªvwjqvg K‡c©v‡ik‡bi †Pqvig¨vb c‡` `vwqZ¡ Chairman of Bangladesh Petroleum Corporation. He
cvjb K‡i‡Qb| Zrc~‡e© wZwb RbcÖkvmb gš¿Yvjq Ges ¯^ivóª also served as Additional Secretary of the Ministry of
gš¿Yvj‡qi AwZwi³ mwPemn A_© gš¿Yvj‡qi A_©‰bwZK m¤úK© Public Administration & Ministry of Home Affairs and
wefv‡Mi (BAviwW) hyM¥-mwPe wn‡m‡eI `vwqZ¡ cvjb K‡ib| Joint Secretary of the Economic Relations Division (ERD)
of the Ministry of Finance. As a member of the BCS
wewmGm cÖkvmb K¨vWv‡ii m`m¨ wn‡m‡e Rbve ingvb Lyjbv
Administration cadre, Mr. Rahman served as the
wefv‡M wefvMxq Kwgkbvimn `ywU cÖkvmwbK †Rjv h_v eªvþbevwoqv
Divisional Commissioner in Khulna Division and Deputy
Ges †gŠjfxevRvi †Rjvi †Rjv cÖkvmK (wWwm) Ges †Rjv Commissioner (DC) of two administrative districts
g¨vwR‡÷ªU wn‡m‡e `vwqZ¡ cvjb K‡ib| namely Bharamanbaria and Moulavibazar.
Rbve ingvb wk¶KZv I cÖKvkbvi cÖwZ AZ¨šÍ AbyivMx| GQvovI Mr. Rahman is very much inclined to teaching and
wZwb miKvi KZ©„K Awc©Z wewfbœ m¤§vbm~PK `vwqZ¡ cvjb K‡ib| publication. He also served different honorary duties
wZwb †mvbvjx e¨vsK (BD‡K) wjwg‡U‡Wi cybM©Vb, BDweAvBwmI and responsibilities assigned by Government. He was
involved in restructuring of Sonali Bank (UK) Ltd. He
Gi †WcywU †Pqvig¨vb, evsjv‡`k e¨vs‡Ki cwiPvjbv cl©‡`i AwWU
also served as Deputy Chairman of UBICO,
KwgwUi †Pqvicvimb I evsjv‡`k e¨vs‡Ki cwiPvjK wn‡m‡eI Chairperson, Audit Committee of Board of Directors of
`vwqZ¡ cvjb K‡ib| Bangladesh Bank and Director of Bangladesh Bank.

28 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW
†Pqvig¨vb: g‡bvbqb I cvwi‡ZvwlK KwgwU
m`m¨: wbqš¿Y welqK KwgwU; wbixÿv I SuywK e¨e¯’vcbv KwgwU

Professor Md. Masudur Rahman, PhD

Chairman: Nomination and Remuneration Committee
Member: Regulatory Affairs Committee; Audit and Risk Management Committee

Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW 2017 mv‡ji 13 Professor Md. Masudur Rahman, PhD has been
appointed as an independent director of Dhaka Stock
†deªæqvwi XvKv ÷K G·‡PÄ wjwg‡UW (wWGmB) Gi GKRb
Exchange Limited (DSE) on February 13, 2017. After
¯^Zš¿ cwiPvjK wn‡m‡e wbhy³ nb| ¯^Zš¿cwiPvjK wn‡m‡e 3
completion of three years tenure, he has been
eQi †gqv` †kl nIqvi ci †deªæqvwi 19, 2020 Zvwi‡L reappointed as Independent Director on Febrary 9,
cybivq 2q †gqv‡` wZwb ¯^Zš¿ cwiPvjK wn‡m‡e wbhy³ nb| 2020 for the second term. Recently he has been
appointed by the Honourable President of People's
mv¤úªwZK mg‡q wZwb MYcÖRvZš¿x evsjv‡`k miKv‡ii
Republic of Bangladesh as the Chairperson of SME
gnvgvb¨ ivóªcwZ KZ…©K GmGgB dvD‡Ûk‡bi †Pqvicvimb Foundation. He has extensive knowledge and
wbhy³ n‡q‡Qb| A_©bxwZ Ges e¨emvi †¶‡Î Zvi e¨vcK Ávb experience in the fields of economics and business. He
Ges AwfÁZv i‡q‡Q| wZwb XvKv wek¦we`¨vj‡qi e¨emv wkÿv serves as a Professor in the Department of Marketing
of the Faculty of Business Studies at University of
Abyl‡`i gv‡K©wUs wefv‡Mi GKRb Aa¨vcK wn‡m‡e `vwqZ¡
Dhaka. He obtained his PhD from the University of
cvjb Ki‡Qb| wZwb BDwbfvwm©wU Ae I‡qjm BÝwUwUDU, Wales Institute, Cardiff, UK. He achieved MBA degree
KvwW©d, BD‡K †_‡K wcGBPwW wWwMÖ Ges BDwbfvwm©wU Ae at the University of Salford, Manchester, UK. He
mvj‡dvW©, g¨vb‡P÷vi, BD‡K †_‡K GgweG wWwMÖ AR©b obtained 1st class in both Master of Commerce and
Bachelor of Commerce (with Honors) from the
K‡i‡Qb| wZwb XvKv wek¦we`¨vj‡qi gv‡K©wUs wefvM †_‡K 1g
Department of Marketing at University of Dhaka. He
†kÖYx‡Z evwY‡R¨ mœvZK I ¯œvZ‡KvËi wWwMÖ AR©b K‡ib| Zvi has over 21 years of experience in teaching, research
wk¶KZv, M‡elYv Ges civgk©K wn‡m‡e wewfbœ e¨emv Dbœqb and consulting services on different business
Ges wecYb wel‡q 21 eQ‡ii AwaK mg‡qi AwfÁZv development and marketing issues. He also has eight
years of diversified corporate work experience in
i‡q‡Q| GQvovI Zuvi †`wk I we‡`wk L¨vwZ m¤úbœ wewfbœ
several foreign and national renowned business
e¨emv cÖwZôv‡b 8 eQ‡ii Kv‡Ri AwfÁZv i‡q‡Q| wZwb organizations. He has participated in numerous
†`‡k I we‡`‡k wewfbœ A_©‰bwZK, e¨emv I K¨vwcUvj gv‡K©U international training programs, seminars and
msµvšÍ AvšÍR©vwZK cÖwk¶Y Kg©kvjv, †mwgbvi Ges m‡¤§j‡b conferences on different economic, business and
capital market related topics in home and abroad. He
AskMÖnY K‡i‡Qb| wZwb BD.Gm. wmwKDwiwUR A¨vÛ G·‡PÄ
has developed skills by attending training sessions on
Kwgkb KZ„©K Av‡qvwRZ ÷K G·‡P‡Äi Kvh©µ‡gi Dci the operations of stock exchange which was conducted
cÖwkÿY Kg©kvjvq AskMÖnY K‡ib| Aa¨vcK ingvb †m‡Þ¤^i by the U.S. Securities and Exchange Commission. Dr.
Rahman was the elected member of the Finance
2014 †_‡K AvM÷ 2016 mvj ch©šÍ XvKv wek¦we`¨vj‡qi
Committee of the University of Dhaka from September
wdb¨vÝ KwgwUi wbe©vwPZ m`m¨ wQ‡jb| wkÿv I M‡elYvq Zuvi
2014 to August 2016. He has vast research and
e¨vcK myL¨vwZ i‡q‡Q Ges GLb ch©šÍ Zvi 28 wU cÖeÜ learning exposures and has 28 published articles in his
cÖKvwkZ n‡q‡Q| credit.

DSE ANNUAL REPORT n­2019-20

29
 weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi ingvb, GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
†Pqvig¨vb: A¨vwcjm KwgwU
m`m¨: g‡bvbqb I cvwi‡ZvwlK KwgwU; wbqš¿Y welqK KwgwU; we‡iva wb®úwË KwgwU

Brigadier General Md Mostafizur Rahman, hdmc, afwc, psc, PhD

Chairman: Appeals Committee
Member: Nomination and Remuneration Committee;
Regulatory Affairs Committee; Conflict Mitigation Committee

ivRkvnx‡Z Rb¥MÖnYKvix weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi Born in Rajshahi, Brigadier General Md Mostafizur
Rahman was commissioned in the prestigious East
ingvb 1992 mv‡j 20 wW‡m¤^i evsjv‡`k wgwjUvwi GKv‡Wwgi
Bengal Regiment on 20 December 1992 after
27Zg `xN©‡gqv`x †Kvm© m¤úbœ K‡i HwZn¨evnx B÷ †e½j completion of 27th Bangladesh Military Academy Long
†iwR‡g‡›U Kwgkb jvf K‡ib| evsjv‡`k †mbvevwnbx‡Z Kg©Rxe‡b Course. In his tenure of service, he served in various
wZwb wewfbœ c`vwZK BDwbU h_v 52 B÷‡e½j †iwR‡g›U (`yBevi), Infantry units namely 52 East Bengal Regiment (twice),
7 B÷‡e½j †iwR‡g›U, 7 evsjv‡`k Bbd¨vw›Uª †iwR‡g›U Ges 34 7 East Bengal Regiment, 7 Bangladesh Infantry
Regiment and 34 East Bengal Regiment. His staff tour
B÷‡e½j †iwR‡g›U-G `vwqZ¡ cvjb K‡ib| wZwb ¯‹yj Ae
of duties include the appointments of General Staff
Bbd¨vw›Uª A¨vÛ U¨vK&wU‡mi †Rbv‡ij ÷vd Awdmvi-3 †Uªwbs, Officer-3 Training in the School of Infantry and Tactics,
KvßvB wiwRq‡bi-65 Bbd¨vw›Uª weª‡M‡Wi m`i`߇ii weª‡MW †gRi, Brigade Major in Headquarters 65 Infantry Brigade at
9 c`vwZK wWwfkb I wWwRGdAvB m`i `߇ii †Rbv‡ij ÷vd Kaptai Region, General Staff Officer-1 in Headquarters
Awdmvi-1, 9 c`vwZK wWwfk‡bi m`i `ßi I 11 c`vwZK Directorate General of Forces Intelligence, General
Staff Officer-1 & Colonel Staff in Headquarters 9
wWwfk‡bi m`i `߇ii K‡b©j ÷vd wn‡m‡e `vwqZ¡ cvjb K‡ib|
Infantry Division and Cal Staffin Headquarters 11
wZwb evsjv‡`k wgwjUvwi GKv‡Wwg‡Z cøvUzb I Uvg© KgvÛvi Infantry Division. He also served as Platoon and Term
wn‡m‡eI `vwqZ¡ cvjb K‡ib| wZwb 34 B÷ †e½j †iwR‡g›U I Commander in Bangladesh Military Academy.
77 c`vwZK weª‡M‡Wi KgvÛvi wn‡m‡e wb‡qvwRZ wQ‡jb| GQvovI Brigadier General Mostafiz Commanded 34 East
Bengal Regiment and 77 Infantry Brigade. Brigadier
wZwb wewfbœ cÖwkÿY Kg©kvjvq AskMÖnY K‡ib| wZwb eva¨Zvg~jK
General Mostafiz attended a number of Training
†Kv‡m©i cvkvcvwk Avwg© ÷vd †Kvm©, Avg©W †dv‡m©m Iqvi †Kvm©, Courses. Besides the mandatory Courses he attended
Kge¨vwUs †U‡ivwiRg Gw·wKDwUf †mwgbvi (IqvwksUb wWwm, Army Staff Course, Armed Forces War Course,
BDGmG), wjM¨vj A¨vm‡c±m Ae Kge¨vwUs †U‡ivwiRg †Kvm© Combating Terrorism Executive Seminar in Washington
(†ivW AvBj¨vÛ, BDGmG) Ges nvqvi wW‡dÝ g¨v‡bR‡g›U †Kvm© DC (USA), Legal aspects of Combating Terrorism
Course (Rhode Island) USA and Higher Defence
(fviZ) G AskMÖnY K‡ib| weª‡MwWqvi †Rbv‡ij †gv¯ÍvwdR
Management Course in India. Brigadier General
Imgvwbqv BDwbfvwm©wU nvq`ªvev`, fviZ †_‡K gv÷vi Ae Mostafiz achieved degrees of Master of Management
g¨v‡bR‡g›U ÷vwWR, evsjv‡`k BDwbfvwm©wU Ae cÖ‡dkbvjm †_‡K Studies, Master of Security Studies and Master of
gv÷vi Ae wmwKDwiwU ÷vwWR Ges RvZxq wek¦we`¨vjq evsjv‡`k Defence Studies from Osmania University Hyderabad,
†_‡K gv÷vi Ae wW‡dÝ ÷vwWR wWwMÖ jvf K‡ib| GQvovI wZwb India, Bangladesh University of Professional and
National University of Bangladesh respectively. He is
Rvnv½xibMi wek¦we`¨vjq †_‡K wcGBPwW wWwMÖ AR©b K‡ib| wZwb
also a PhD holder from the Jahangirnagar University of
wm‡qivwjIb Ges my`v‡b RvwZms‡Ni wgk‡b AskMÖnY K‡ib| wZwb Bangladesh. He Participated in UN Missions in
BDGmG, BD‡K, BDGB, wm‡qivwjqb, my`vb, wm½vcyi, _vBj¨vÛ, Sierraleone and Sudan. He visited USA, UK, UAE,
wf‡qZbvg, fviZ I Zzi¯‹ ågY K‡ib| wZwb 28 GwcÖj 2019 Sierraleone, Sudan, Singapore, Thailand, Vietnam,
India and Turkey. Brigadier General Mostafiz took over
Zvwi‡L XvKv K¨v›Ub‡g‡›Ui 46 ¯^Zš¿ c`vwZK weª‡M‡Wi KgvÛvi
his current responsibilities as commander of 46
wn‡m‡e `vwqZ¡ MÖnY K‡ib| wZwb bvRwbb †di‡`Šmxi m‡½ weevn Independent Infantry Brigade on 28 April 2019. He is
e܇b Ave× nb Ges Zviv `yB Kb¨vmšÍv‡bi (wcÖqv¼v I I‡giv) married to Ms Naznin Ferdusi and they are proud
Mwe©Z wcZvgvZv| parent of two doughters Priyanka and Omera.

30 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wg‡mm mvjgv bvmixb GbwWwm
†Pqvig¨vb: wbixÿv I SuywK e¨e¯’vcbv KwgwU
m`m¨: A¨vwcjm& KwgwU; g‡bvbqb I cvwi‡ZvwlK KwgwU

Mrs. Salma Nasreen ndc

Chairman: Audit and Risk Management Committee
Member: Appeals Committee; Nomination and Remuneration Committee

mvjgv bvmixb evsjv‡`k wmwfj mvwf©m (cÖkvmb) K¨vWv‡ii GKRb Mrs. Salma Nasreen is a former Additional Secretary of
mv‡eK AwZwi³ mwPe| wZwb evsjv‡`k U¨vwid Kwgkb, wegvb Bangladesh Civil Service (Administration). She served more
than 33 years in Civil Service including Bangladesh Tariff
evsjv‡`k Gqvi jvBbm, †eUvi weR‡bm †dvivg Ges evsjv‡`k Commission, Bangladesh Biman Airlines, Better Business
Bb‡f÷‡g›U †W‡fjc‡g›U A_wiwUmn wewfbœ gš¿Yvj‡q 33 (†ZwÎk) Forum and BIDA (earlier BOI) on deputation with excellent
eQ‡iiI AwaK mgq wewfbœ c‡` AZ¨šÍ mybv‡gi mv‡_ `vwqZ¡ cvjb reputation. She worked in the Ministry of Education, Ministry
K‡ib| gš¿Yvjq I wefvM¸‡jv n‡”Q h_vµ‡g ¯^ivóª gš¿Yvjq (`yev©i), of Home Affairs (twice), Ministry of Finance (thrice), Economic
Relations Division (ERD), Ministry of Fisheries and livestock
grm I cÖvYx m¤ú` gš¿Yvjq, A_© gš¿Yvjq, wkÿv gš¿Yvjq, A_©‰bwZK and Financial Institutions Division.
m¤úK© wefvM Ges Avw_©K cÖwZôvb wefvM|
Salma Nasreen was born in Nalchity in the district Jhalakati
mvjgv bvmixb 1960 mv‡j SvjKvwV †Rjvi bjwQwU Dc‡Rjvq Rb¥ in 1960. She achieved Honours and master’s degree in
MÖnY K‡ib| wZwb XvKv wek¦we`¨vjq †_‡K A_©bxwZ wel‡q ¯œvZK I economics from the University of Dhaka. She attained her
¯œvZ‡KvËi wWwMÖ AR©b K‡ib| wZwb 1996 mv‡j hy³iv‡R¨i eªvW‡dvW© MSc in Macro Economic Policy & Planning in Developing
countries from the University of Bradford in UK in 1996 and
wek¦we`¨vjq †_‡K g¨v‡µv B‡KvbwgK cwjwm GÛ cøvwbs Bb †W‡fjwcs got additional Master’s degree in Security Studies from
Kvw›UªR kxl©K wel‡q GgGmwm Ges 2012 mv‡j evsjv‡`k BDwbfvwm©wU Bangladesh University of Professionals in 2012. She is a life
Ae cÖ‡dkbvjm †_‡K wmwKDwiwU ÷vwWR G ¯œv‡Zv‡KvËi wWwMÖ jvf Member of Bangladesh Economic Association and
K‡ib| wZwb evsjv‡`k B‡KvbwgK G‡mvwm‡qkb Ges evsjv‡`k Bangladesh Administrative Service Association. She also
accomplished National Defence Course successfully in 2012
GWwgwbm‡UªwUf G‡mvwm‡qk‡bi AvRxeb m`m¨| wZwb b¨vkbvj wW‡dÝ from National Defence College in Dhaka.
K‡jR, XvKv †_‡K b¨vkbvj wW‡dÝ †Kvm©I m¤úbœ K‡ib| wZwb
She has knowledge and experience of multidimensional
eªvW‡dvW© wek¦we`¨vj‡q Aa¨qbKv‡j Ò†UªW widg© Bb evsjv‡`kÓ kxl©K
arenas. She is a lyricist as well as writer in the daily
M‡elYvcÎ cÖ¯Z ‘ K‡ib, hv D³ we`¨vj‡qi jvB‡eªix‡Z msiwÿZ Av‡Q| newspapers and journals. She wrote articles on Father of the
cvVµg ewnf~©Z Kvh©µ‡gi Ask wn‡m‡e wZwb evsjv‡`k †eZv‡ii ewn: Nation in Global Perspective (The Shomoy Journal), Capital
wek¦ Kvh©µ‡gi Òf‡qm Ae BmjvgÓ wk‡ivbv‡gi Abyôv‡b Dc¯’vcbvi Market and Central Bank (the Financial Express), Women
`vwqZ¡I wbqwgZ cvjb Ki‡Zb| wZwb Zvi wbKU AvZ¥xq‡`i Avw_©K Empowerment (the Daily Ittefaq), Skill and Development (the
Daily Prothom Alo) including Universal Primary Education
c„ô‡cvlKZvq bjwQwU Dc‡Rjvq GKwU gwnjv K‡jR cÖwZôvq mnvqK published in the journal of Bangladesh Institute of
f~wgKv cvjb K‡ib| wZwb Zvi wbR †Rjvq (SvjKvwV) AbywôZ ÒKb¨v Development Studies. She completed a research paper on
DrmeÓ G cÖ_g gwnjv AwZwi³ mwPe wn‡m‡e m¤^a©bvmn AvbyôvwbK Trade Reform in Bangladesh while studying in the University
¯^xK…wZ jvf K‡ib| eZ©gv‡b wZwb XvKv ÷K G·‡P‡Äi †ev‡W© of Bradford in UK.
BbwW‡cb‡W›U WvB‡i±i wn‡m‡e wbijm KvR K‡i hv‡”Qb| She became enlisted lyricist of Bangladesh Betar in 1995 and
Bangladesh Television in 1997. She wrote two melodious
wZwb eûgvwÎK cÖwZfvi AwaKvix, wZwb GKRb MxwZKvi Ges †jwLKv| lyrical books named “Madhobi Raat Shesh Hoey Elo” and
ˆ`wbK cwÎKvmn wewfbœ Rvbv©‡j Zvi A‡bK cÖeÜ cÖKvwkZ n‡q‡Q| Gi “Sritir Bohota Nodi” published in the Ekushey Book Fairs. The
g‡a¨ D‡jøL‡hvM¨ n‡”Q wek¦vq‡b RvwZi wcZv e½eÜz, bvixi ÿgZvqb, composer and music director Sheikh Sadi Khan composed
`ÿZv I Dbœqb, K¨vwcUvj gv‡K©U I †m›Uªvj e¨vsK Ges evsjv‡`‡k several songs of her. She participated in various international
conferences, seminars, workshops in USA, Japan, Australia,
mve©Rbxb cÖv_wgK wkÿv ev¯Íevq‡bi K‡qKwU w`K| cÖKvkK n‡”Q Singapore, Malaysia, UK, Iran, France, South Korea,
h_vµ‡g mgq Rvbv©j, ˆ`wbK B‡ËdvK, ˆ`wbK cÖ_g Av‡jv, w` Vietnam, Myanmar, Serbia, Sri Lanka, Belgium, Netherland,
dvBbvwÝqvj &G·‡cÖm, evsjv‡`k ÷vwWR Rvbv©j| wZwb MxwZKvi wn‡m‡e Germany, India and Armenia.
1995 mv‡j evsjv‡`k †eZvi I 1997 mv‡j evsjv‡`k †Uwjwfk‡b She had the exposure to extracurricular activities like working
ZvwjKvfz³ nb| GKz‡k eB †gjvq Zvi MxwZ KweZvi `y‡Uv eB Ògvaex as a presenter in the external service of Bangladesh Betar
ivZ †kl n‡q GjÓ Ges Ò¯§„wZi enZv b`xÓ cÖKvwkZ nq| Zvi iwPZ titled as “Voice of Islam”. She played instrumental roles in
Mv‡bi K‡qKwU‡Z e‡iY¨ msMxZ cwiPvjK I myiKvi †kL mv`x Lvb the establishment of a Women’s College in Nalchity Upozilla
Shodor under the financial patronization of her close
myiv‡ivc K‡i‡Qb| wZwb gvwK©b hy³ivóª, Rvcvb, A‡÷ªwjqv, wm½vcyi, relatives. She was awarded as the first Woman Additional
gvj‡qwkqv, BD‡K, Bivb, d«vÝ, `wÿY †Kvwiqv, wf‡qZbvg, gvqvbgvi, Secretary in the celebration of Daughter’s Day in Jalakati.
mvwe©qv, kÖxj¼v, †ejwRqvg, nj¨vÛ, Rvg©vwb, fviZ Ges Av‡gwiKvq wewfbœ Now as an independent director of the board in DSE she is
AvšÍRv© wZK m‡¤§jb, cÖwkÿY, †mwgbvi Ges IqvK©m‡c AskMÖnY K‡ib| working relentlessly to move DSE forward for future progress.

DSE ANNUAL REPORT n­2019-20

31
 †gvt gybZvwKg Avkivd
m`m¨: wbixÿv I SuywK e¨e¯’vcbv KwgwU;
we‡iva wb®úwË KwgwU

Md. Muntakim Ashraf

Member: Audit and Risk Management Committee;
Conflict Mitigation Committee

†gvt gybZvwKg Avkivd GKRb mycÖwZwôZ e¨emvqx †bZv, e¨w³Z¡ Ges Md. Muntakim Ashraf is a well established business
leader and an outstanding entrepreneur who has taken
GKRb Amvgvb¨ D‡`¨v³v wn‡m‡e evsjv‡`‡k Zvi e¨emv‡K mvd‡j¨i
his business in Bangladesh to the higher level of
D”P P‚ovq wb‡q †M‡Qb| Møvm‡Mv wek¦we`¨vjq (hy³ivR¨) †_‡K e¨emvq success. A business graduate from the University of
mœvZK wWMÖxavix †gvt gybZvwKg Avkivd `vwqZ¡kxj e¨emv Kivi ¯^cœ‡K Glasgow (UK), Md. Muntakim Ashraf has pushed
forward his dreams of doing responsible business and
GwM‡q wb‡q hvb Ges eZ©gv‡b wZwb †ek K‡qKwU †Kv¤úvwb h_v Pvw›`bv is presently the Managing Director of a number of
dvg©j¨vÛ GÛ †Kvì †÷v‡iR wjwg‡UW, †nv‡Uj eøy evsjv‡`k wjwg‡UW, companies namely The Chandina Framland & Cold
wµ‡qwUf †nvgm wjwg‡UW Ges f¨vb‡UR G›UvicÖvB‡Ri e¨e¯’vcbv Storage Ltd., Hotel Blue Bangladesh Ltd., Creative
Homes Ltd. and Vantage enterprise. He is the Chairman
cwiPvj‡Ki `vwqZ¡ cvjb Ki‡Qb| eZ©gv‡b wZwb †e½j †WªwRs GÛ of Bengal Dredging & Construction Ltd. at present. He
KÝUªvKkb wjwg‡U‡Wi †Pqvig¨v‡bi `vwqZ¡ cvjb Ki‡Qb| wZwb †g‡Uªv is also Director of Metro Shopping Mall, Orchid Plaza,
Metro Homes Ltd. and a host of other organizations.
kwcs gj, AwK©W cøvRv, †g‡Uªv †nvgm wjwg‡U‡Wi cwiPvjK Ges Ab¨vb¨
He is a renowned and well respected figure in the
cÖwZôv‡bi †nv÷ wn‡m‡eI `vwqZ¡ cvjb Ki‡Qb|
business community and is the Senior Vice President of
wZwb e¨emvqx m¤cÖ`v‡qi GKRb mycwiwPZ Ges m¤§vwbZ e¨w³| wZwb the Federation of Bangladesh Chambers of Commerce
and Industry (FBCCI), the apex trade body of
evsjv‡`‡ki e¨emvqx‡`i kxl©¯’vbxq evwYR¨ msMVb w` †dWv‡ikb Ae Bangladesh. He is Vice-Chairperson of SAARC Young
evsjv‡`k †P¤^vim Ae Kgvm© GÛ BÛvw÷ªR (GdwewmwmAvB) Gi wmwbqi Entrepreneurs Forum (SYEF) (Bangladesh Chapter) and
mn-mfvcwZ| wZwb mvK© Ziæb D‡`¨v³v †dvivg (GmIqvBBGd) as Executive Committee member of the SAARC CCI, he
has been working with other SAARC country’s business
(evsjv‡`k Aa¨vq) Gi fvBm †Pqvig¨vb Ges mvK© wmwmAvB Gi wbe©vnx leaders with a view to creating an ideal environment for
KwgwUi m`m¨ wn‡m‡e `wÿY Gwkqvi AeKvVv‡gvMZ Dbœqb Ges GKwU trade and investment through infrastructure
development and a preferential trade framework within
AMÖvwaKvi evwYR¨ KvVv‡gvi gva¨‡g evwYR¨ I wewb‡qv‡Mi Av`k©
South Asia.
cwi‡ek ˆZwi Kivi j‡¶¨ Ab¨vb¨ mvK©fz³ †`‡ki e¨emvqx †bZv‡`i
He has extensively travelled to participate at various
mv‡_ KvR K‡i hv‡”Qb| wZwb 2014 †_‡K 2018 mvj ch©šÍ international forums, symposiums and fair around the
RvwZms‡Ni mvaviY cwil`mn we‡k¦i wewfbœ AvšÍR©vwZK †dvivg, world including the United Nations General Assembly
in the years 2014, 2015, 2016, 2017 and 2018. Being
wm‡¤úvwRqvg Ges †gjvq AskMÖnY K‡ib| evsjv‡`k e¨emvqx a member of Bangladesh Business Delegation and an
cÖwZwbwa`‡ji m`m¨ Ges evsjv‡`‡ki gvbbxq cÖavbgš¿xi mdim½x entourage of the Hon’ble Prime Minister of Bangladesh,
wn‡m‡e gybZvwKg Avkivd †b`vij¨vÛ, gvwK©b hy³ivóª, wm½vcyi, Muntakim Ashraf visited various countries such as
Netherlands, USA, Singapore, Sweden, Cambodia,
myB‡Wb, K‡¤^vwWqv, Rvcvb, nv‡½wi, fviZ, BZvwj, B‡›`v‡bwkqv, Japan, Hungary, India, Italy, Indonesia, Brunei and KSA.
eªæbvBmn wewfbœ †`k cwi`k©b K‡i‡Qb| AvšÍR©vwZK ch©v‡q, At the international level, his focus is to represent the
evsjv‡`‡ki e¨emvwqK I A_©‰bwZK mvd‡j¨i Dc¯’vcbmn Ges business and economic success of Bangladesh and look
for possible joint venture agreements to make the best
evsjv‡`‡ki m¤¢ve¨Zv Ges AvšÍR©vwZK Askx`vix‡Z¡i `¶Zv AR©‡bi of Bangladesh’s potential and expertise of the
Rb¨ m¤¢ve¨ †hŠ_ D‡`¨v‡Mi †ÿθ‡jvi mv‡_ KvR K‡ib| international business partners.
He is the only son of professor Md. Ali Ashraf, M.P. and
wZwb evsjv‡`k msm‡`i mv‡eK †WcywU w¯úKvi Ges msm` m`m¨
former Deputy Speaker of Bangladesh Parliament. Dr.
Aa¨vcK †gvt Avjx Avkiv‡di GKgvÎ †Q‡j| Wt kvnxb myjZvbv Rbve Shaheen Sultana is life partner of Mr. Muntakim Ashraf.
gybZvwKg Avkiv‡di Rxebm½x| Zv‡`i `yBRb cyÎ mšÍvb i‡q‡Q| They are blessed with two sons.

32 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

nvweeyjøvn evnvi
†Pqvig¨vb: wbqš¿Y welqK KwgwU

Habibullah Bahar
Chairman: Regulatory Affairs Committee

nvweeyjøvn evnvi evsjv‡`k e¨vs‡Ki GKRb cÖv³b A_©‰bwZK Habibullah Bahar is the former Economic Advisor of
Dc‡`óv| Zvi i‡q‡Q e¨vswKs †ckvq cÖvq 35 eQ‡ii AwfÁZv| wZwb Bangladesh Bank. He has about 35 years of experience
in banking career at the Central Bank. He held the
evsjv‡`k Bbw÷wUDU Ae e¨vsK g¨v‡bR‡g›U (weAvBweGg)-G AMÖYx
position of Agrani Bank Chair Professor at the Bangladesh
e¨vsK †Pqvi cÖ‡dmi c‡` `vwqZ¡ cvjb K‡ib| wZwb †g‡UªvcwjUb Institute of Bank Management (BIBM). He also held the
†P¤^vi Ae Kgvm© GÛ BÛvw÷ªR-Gi (GgwmwmAvB) wmwbqi A_©‰bwZK position of Senior Economic Advisor, Metropolitan
Dc‡`óvi `vwqZ¡I cvjb K‡ib| GQvovI wZwb A_© gš¿Yvj‡qi Aaxb¯’ Chamber of Commerce and Industry (MCCI). He was the
Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k (AvBwmwe) I wgDwbwmcvj member of Board of Directors of Investment Corporation
of Bangladesh (ICB), Export Promotion Bureau (EPB) and
†W‡fjc‡g›U dvÛ Gi cwiPvjbv cl©` Ges evsjv‡`k e¨vs‡Ki Municipal Development Fund, Ministry of Finance and
w÷qvwis KwgwU I wewb‡qvM KwgwUi m`m¨ wQ‡jb| Zvi i‡q‡Q 25wUi Member of Steering Committee and the Investment
gZ cÖKvkbv, hv wewfbœ †ckv`vi Rvb©v‡j cÖKvwkZ n‡q‡Q (Gi g‡a¨ Committee of Bangladesh Bank. He has about 25
GKwU 2002 mv‡j RvwZmsN KZ©„K cÖKvwkZ)| GQvovI A_©, e¨vswKs publications in the professional journals (one published
by the United Nations, New York, 2002). He has several
Ges Avw_©K wel‡q A‡bK cÖKvkbv wewfbœ mg‡q wewfbœ cwÎKvq
publications in different newspapers in different times
cÖKvwkZ n‡q‡Q| wZwb dvBb¨vwÝqvj GbvjvBwmm GÛ K‡›Uªvj, particularly on money, banking and financial issues. He
B›Uvib¨vkbvj dvBb¨vwÝqvj g¨v‡bR‡g›U, gvB‡µv B‡Kvbwg·, g¨v‡µv served as adjunct professor of Bangladesh University,
B‡Kvbwg·, g¨v‡b‡Rwiqvj B‡Kvbwg·, gwbUwi w_Iwi GÛ cÖ¨vKwUm, South East University, Stamford University, East West
e¨vsK g¨v‡bR‡g›U BZ¨vw` wel‡q LÐKvjxb Aa¨vcK wn‡m‡e evsjv‡`k University, Independent University Bangladesh where he
taught subjects like Financial Analysis and Control,
BDwbfvwm©wU, mvD_B÷ BDwbfvwm©wU, ÷¨vg‡dvW© BDwbfvwm©wU, B÷
International Financial Management, Microeconomics,
I‡q÷ BDwbfvwm©wU Ges BwÛ‡c‡Û›U BDwbfvwm©wU evsjv‡`k G `vwqZ¡ Macroeconomics, Managerial Economics, Monetary
cvjb K‡i‡Qb| Theory and Practice, Bank Management etc.
nvweeyjøvn evnvi 1953 mv‡j Rb¥MÖnY K‡ib| wZwb XvKv wek¦we`¨vjq Mr. Habibullah Bahar was born in 1953. He obtained his
†_‡K A_©bxwZ‡Z weG (Abvm©) I GgG wWwMÖ AR©b K‡ib| wZwb gvwK©b BA (Hons.) and MA degrees in Economics from the
University of Dhaka. He completed his MA in
hy³iv‡óªi DBwjqvgm K‡jR-Gi †m›Uvi di †W‡fjc‡g›U
Development Economics from the Centre for
B‡Kv‡bvwg· (wmwWB) †_‡K GgG wWMÖx Ges BDwbfvwm©wU Ad Development Economics (CDE), Williams College,
K¨vwj‡dvwb©qv, AvifvBb, †_‡K B‡Kv‡bv‡gwUª·, UvBg wmwiR GÛ Williamstown, USA and attended Certificate Course on
dvBb¨vwÝqvj GbvjvBwm‡m mvwU©wd‡KU †Kvm© AR©b K‡ib| wZwb Econometrics, Time Series and Financial Analysis,
evsjv‡`k B‡Kv‡bvwgK G‡mvwm‡qk‡bi AvRxeb m`m¨| wZwb gvwK©b University of California, Irvine, USA. He is the life member
of the Bangladesh Economic Association. He also took
hy³ivóª, hy³ivR¨, Rvcvb, myBRvij¨vÛ, †Kvwiqv, _vBj¨vÛ, wm½vcyi, part in several trainings and international seminars in
fviZ, cvwK¯Ívb, kÖxjsKv, fzUvb mn we‡k¦i wewfbœ †`‡k †ek K‡qKwU different countries like the USA, UK, Switzerland, Japan,
cÖwk¶Y I AvšÍ©RvwZK †mwgbv‡i AskMÖnY K‡ib| †K›`ªxq e¨vs‡Ki Singapore, Korea, Thailand, India, Pakistan, Srilanka,
A_©‰bwZK Dc‡`óv wn‡m‡e wZwb AvBGgGd, Iqvì© e¨vsK, Gwkqvb Bhutan. As Economic Adviser of the central bank, he led
the Bangladesh Bank delegation in discussions on
†W‡fjc‡g›U e¨vsK, BDGbwmwUGwW (UNCTAD), BDGb-BGmwmGwc
different issues with visiting team from the IMF, World
(UN-ESCAP) Ges Ab¨vb¨ wgkb¸‡jvi mv‡_ wewfbœ wel‡q Av‡jvPbvq Bank, Asian Development Bank, UNCTAD, UN-ESCAP
evsjv‡`k e¨vs‡Ki cÖwZwbwa`‡ji †bZ„Z¡ †`b| and other missions.

DSE ANNUAL REPORT n­2019-20

33
 W. G. †K. Gg. gvmy`
†Pqvig¨vb: we‡iva wb®úwË KwgwU
m`m¨: A¨vwcjm KwgwU

Professor A. K. M. Masud, PhD

Chairman: Conflict Mitigation Committee
Member: Appeals Committee

W. G. †K. Gg. gvmy` evsjv‡`k cÖ‡KŠkj wek¦we`¨vjq (ey‡qU)-Gi BÛvw÷ªqvj GÛ Dr. A. K. M. Masud is a Professor in the Department of Industrial
†cÖvWvKkb BwÄwbqvwis (AvBwcB) wefv‡Mi Aa¨vcK| wZwb wm‡jU K¨v‡WU K‡j‡Ri and Production Engineering (IPE), Bangladesh University of
Engineering and Technology (BUET). He is an ex-cadet of Sylhet
cÖv³b K¨v‡WU| wZwb 1993 mv‡j ey‡qU †_‡K we.Gmwm. BwÄwbqvwis (†gKvwbK¨vj), Cadet College. He obtained B. Sc. in Mechanical Engineering
1997 Ges 2000 mv‡j Rvcv‡bi wg‡q wek¦we`¨vjq †_‡K h_vµ‡g Gg. BwÄwbqvwis in1993 from BUET, M. Engineering (Mechanical) in 1997 and
(†gKvwbK¨vj) Ges wcGBPwW wWMÖx AR©b K‡ib| PhD. in 2000 from Mie University, Japan.
His great interest in research works led him to research on
M‡elYvg~jK Kv‡Ri cÖwZ cÖej AvMÖ‡ni Kvi‡Y wZwb K‡¤úvwRU †g‡Uwiqvj Ges Gi Composite materials and its properties and presently he is
ˆewkó¨ wb‡q M‡elYv K‡ib Ges eZ©gv‡b wZwb Kve©b b¨v‡bv wUDe (wmGbwU) wfwËK engaged with Nano composite research based on Carbon Nano
b¨v‡bv K‡¤úvwRU M‡elYv Kv‡Ri mv‡_ RwoZ i‡q‡Qb| Aa¨vcK gvmy‡`i 45wUiI Tube (CNT). More than 45 publications of Professor Masud were
published in highly reputed international journals and
AwaK cÖKvkbv ¯^bvgab¨ wewfbœ AvšÍR©vwZK Rvb©vj Ges m‡¤§j‡b cÖKvwkZ nq| conference proceedings.
1998 mv‡j Aa¨vcK gvmy` K‡¤úvwRU †g‡Uwiqvj-G GKRb Amvgvb¨ M‡elK In 1998, Professor Masud was awarded “Young Researcher
wn‡m‡e Gwkqvb-A‡÷ªwjqvb G‡mvwm‡qkb †_‡K ÒBqs wimvP©vi A¨vIqvW©Ó AR©b Award” as an excellent researcher on composite material from
K‡ib| wZwb 2015-2016 mv‡j †mŠw` Avi‡ei †RÏv wek¦we`¨vj‡q M‡elYv Aa¨vcK Asian-Australian Association for Composite Material. He also
served as Research Professor at University of Jeddah, KSA in
wn‡m‡eI `vwqZ¡ cvjb K‡ib| 2015-2016.
MYcÖRvZš¿x evsjv‡`‡ki gnvgvb¨ ivóªcwZ 2019 mv‡j e½eÜy †kL gywReyi ingvb Honorable President of the Peoples’ Republic of Bangladesh has
Gwf‡qkb Ges G¨v‡iv‡¯úm BDwbfvwm©wUi (weGmGgAviGGBD) wmwÛ‡KU m`m¨ nominated Professor Masud as Syndicate member of
Bangabandhu Sheikh Mujibur Rahman Aviation and Aerospace
wn‡m‡e Ges 2020 mv‡j h‡kvi weÁvb I cÖhyw³ wek¦we`¨vj‡qi AvB wc B wefv‡Mi University (BSMRAAU) in 2019 and nominated as expert
wkÿK wbe©vPb †ev‡W©i we‡klÁ m`m¨ wn‡m‡e Aa¨vcK gvmy`‡K g‡bvbxZ K‡ib| member of Teacher Selection Board of IPE department of Jessore
wZwb ey‡q‡Ui †iwR÷ªvi, BÛvw÷ªqvj GÛ cÖWvKkb BwÄwbqvwis wefv‡Mi cÖavb, University of Science and Technology (JUST) in 2020. He has
Bbw÷wUDU Ae †KvqvwjwU G¨vmy‡iÝ †mj (AvBwKDGwm) Gi cwiPvjK Ges ey‡q‡Ui served as Registrar, Head of the Department of Industrial and
Production Engineering, Director of Institute of Quality Assurance
GKwU AvevwmK n‡ji mnKvix cÖ‡fv÷ wn‡m‡eI `vwqZ¡ cvjb K‡ib| Cell (IQAC) and Assistant Provost of a residential hall in BUET.
eZ©gv‡b wZwb ey‡qU wkÿK mwgwZ Ges evsjv‡`k wek¦we`¨vjq mg~‡ni wkÿK mwgwZ Currently he is an elected member of Executive Committee of
†dWv‡ikb-Gi Kvh©wbe©vnx KwgwUi GKRb wbe©vwPZ m`m¨| W. gvmy` 2018 I 2019 BUET Teachers’ Association and Federation of Bangladesh
University Teachers’ Association. Dr. Masud served as the elected
mv‡j cici `yBevi ey‡qU wkÿK mwgwZi wbe©vwPZ †cÖwm‡W›U, ey‡qU GjvgwbÕi fvBm- President of BUET Teachers’ Association for two consecutive
†cÖwm‡W›U Ges evsjv‡`k wek¦we`¨vjq mg~‡ni wkÿK mwgwZ †dWv‡ikb-Gi fvBm- terms in 2018 & 2019, Vice President of BUET Alumni and Vice
†cÖwm‡W›U wn‡m‡e `vwqZ¡ cvjb K‡ib| wZwb ey‡qU Gjvgwb Uªvw÷ †ev‡W©iI m`m¨ President of Federation of Bangladesh University Teachers’
wQ‡jb| GQvovI wZwb BÝwUwUDU Ae BwÄwbqvim evsjv‡`k (AvBBwe)-Gi AvRxeb Association. He was also the member of Trustee Board of BUET
Alumni. He is also a Life Fellow of the Institute of Engineers
m`m¨| Bangladesh (IEB).
W. gvmy` Wy‡qU, iæ‡qU, kvnRvjvj weÁvb I cÖhyw³ wek¦we`¨vjq, Py‡qU, AvB BD wU, As member of different committees, Dr. Masud served various
evsjv‡`k BÝwUwUDU Ae g¨v‡bR‡g›U (weAvBGg), cÖwZi¶v gš¿Yvjq, weGmwUAvB, national organizations such as DUET, RUET, SUST, CUET, IUT,
Bangladesh Institute of Management (BIM), Ministry of Defense,
evsjv‡`k †gwW‡Kj M‡elYv KvDwÝj (weGgAviwm), wkí gš¿Yvjq, GbAviwemn BSTI, Bangladesh Medical Research Council (BMRC), Ministry
wewfbœ RvZxq cÖwZôv‡bi wewfbœ KwgwUi m`m¨ wn‡m‡e `vwqZ¡ cvjb K‡ib| wZwb of Industries, NBR etc. He was chairman of committee for
kvnRvjvj weÁvb I cÖhwy ³ wek¦we`¨vjq, Avnmvb Djøvn weÁvb I cÖhwy ³ wek¦we`¨vjq accreditation of different departments of SUST, AUST and MIST.
Ges GgAvBGmwUÕi wewfbœ wefv‡Mi ¯^xK…wZ cÖ`vbKvix KwgwUi †Pqvig¨vb wQ‡jb| He is also the expert member of Teachers selection board of
DUET and IUT.
wZwb Wy‡qU Ges AvBBDwUi wk¶K wbe©vPb †ev‡W©iI GKRb we‡klÁ m`m¨|
Nominated by BUET authority, Dr. Masud has been engaged in
ey‡qU KZ…©cÿ KZ…©K g‡bvbxZ n‡q W. gvmy` cÖwµqv Dbœqb, m¤¢ve¨Zv mgxÿv, carrying out various types of consulting activities in the local
Drcv`bkxjZv Dbœqb, wUwcGg, iÿYv‡eÿY e¨e¯’vcbv, eR©¨ e¨e¯’vcbv, ¯^v¯’¨ I industry sector including process improvement, feasibility study,
productivity improvement, TPM, maintenance management,
myiÿv Ges cwicvjbxq msµvšÍ welqvw`mn ¯’vbxq wkí Lv‡Z wewfbœ ai‡bi Kvh©µg waste management, health & safety and complaisance issues
cwiPvjbvq civgk©K wn‡m‡e wbhy³ i‡q‡Qb| wZwb evsjv‡`‡ki wewfbœ msMV‡bi etc. He has also engagement in several training programs for
†ckvRxwe‡`i Rb¨ †ek K‡qKwU cÖwkÿY Kg©mP~ x‡ZI cÖwkÿK wn‡m‡e mshy³ Av‡Qb| the professionals from different organizations in Bangladesh.

34 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Md. Rakibur Rahman
Member: Nomination and Remuneration Committee

†gvt iwKeyi ingvb

m`m¨: g‡bvbqb I cvwi‡ZvwlK KwgwU

evsjv‡`‡ki cuwy RevRv‡i †gvt iwKeyi ingvb AwZ mycwiwPZ GKRb Md. Rakibur Rahman is a well known personality in
e¨w³Z¡| wZwb 40 eQ‡iiI †ewk mgq a‡i †`‡ki cÖavb cuwy RevRvi the capital market of Bangladesh. He has been
attached with Dhaka Stock Exchange, the prime
XvKv ÷K G·‡P‡Äi mv‡_ RwoZ| 1997 mv‡j wZwb wWGmBÕi
bourse of the capital market of Bangladesh, for more
†Pqvig¨vb wn‡m‡e `vwqZ¡ MÖnY K‡i 2000 mvj ch©šÍ D³ `vwqZ¡
than 40 years. In the year 1997, Rahman took the
cvjb K‡ib| cieZ©x mg‡q 2009 mv‡j wZwb cÖ_g ev‡ii g‡Zv
charge of Chairman of Dhaka Stock Exchange
Ges 2012 mv‡j wØZxq ev‡ii g‡Zv XvKv ÷K G·‡P‡Äi Limited and continuously served till 2000. Afterwards,
†cÖwm‡W›U wn‡m‡e `vwqZ¡ cvjb K‡ib| Gi c~‡e© wZwb 2007 †_‡K he served DSE as President in 2009 and 2012 for the
2009 mvj ch©šÍ wWGmBÕi cwiPvjK Ges 1979 †_‡K 1983 first and second time respectively. Before that from
mvj ch©šÍ KvDwÝji wn‡m‡e `vwqZ¡ cvjb K‡ib| wZwb 3 †gqv‡` 2007 to 2009, he discharged his duty as the Director
of DSE and from 1979 to 1983, he was the councilor
`xN© 6 eQi mZZv I wbôvi mv‡_ XvKv ÷K G·‡P‡Äi
of DSE. In three terms, he has served DSE with
†Pqvig¨vb/†cÖwm‡W›U Ges wewfbœ †gqv‡` 14 eQi wWGmBÕi
honesty and devotion as Chairman/President for six
KvDwÝji/cwiPvjK wn‡m‡e `vwqZ¡ cvjb K‡ib| cyuwRevRv‡ii years and for fourteen years in various tenures he has
mv‡_ RwoZ nIqvi ïiæ †_‡KB cuywRevRv‡ii Dbœqb Ges cÖmv‡i also served DSE as Councilor/Director. He has been
wZwb AMÖYx f~wgKv cvjb K‡i P‡j‡Qb| playing the leading role for the development and
augmentation of the capital market from the very
wZwb Zvi gvwjKvbvaxb wgWI‡q wmwKDwiwUR wj.-Gi †Pqvig¨vb
inception of his attachment with the capital market.
wn‡m‡e `vwqZ¡ cvjb Ki‡Qb| GQvovI wPUvMvs wm‡g›U wK¬sKvi,
He is the pioneer and Chairman of Midway Securities.
b¨vkbvj wUDem& wjwg‡UW Ges †Wëv jvBd BÝy‡i‡Ýi cwiPvjK
Besides, Rahman served Chittagong Cement Clinker,
wn‡m‡e `vwqZ¡ cvjb K‡i‡Qb| wZwb †`‡ki m‡e©v”P we`¨vcxV XvKv
National Tubes Limited and Delta Life Insurance as
wek^we`¨vjq †_‡K ivóªweÁv‡b ¯œvZK (m¤§vb) Ges ¯œvZ‡KvËi Director. He has completed BA (Hons) and MA in
wWwMÖ AR©b K‡ib| †`‡k-we‡`‡ki wewfbœ m‡¤§jb, †mwgbvi Ges political science from the University of Dhaka. He has
cÖwkÿY Kg©m~wP‡Z AskMÖn‡Yi AwfÁZv i‡q‡Q †gvt iwKeyi experience of participating in various conferences,
ingv‡bi| seminars and trainings at home and abroad.

DSE ANNUAL REPORT n­2019-20

35
 †gvt kvwKj wiRfx
m`m¨: we‡iva wb®úwË KwgwU

Md. Shakil Rizvi

Member: Conflict Mitigation Committee

†gvt kvwKj wiRfx evsjv‡`‡ki cyuwRevRv‡ii GKRb mycwiwPZ Md. Shakil Rizvi is a renowned personality in the
e¨w³Z¡| wZwb 1987 mb †_‡K evsjv‡`‡ki cyuwRevRv‡ii mv‡_ Capital Market of Bangladesh. He has been
associated with Bangladesh Capital Market since
m¤ú„³ Av‡Qb| wZwb cyuwRevRv‡ii cvkvcvwk wWGmBÕi Dbœq‡b
1987. He has played an important role for the
¸iæZ¡c~Y© f~wgKv cvjb K‡ib| Rbve wiRfx, kvwKj wiRfx ÷K development of capital market as well as DSE. Mr.
wjwg‡UW, kvwKj wiRfx A¨v‡mU wjwg‡UW Ges wiRfx d¨vkb Rizvi is the Managing Director of Shakil Rizvi Stock
wjwg‡UW Gi e¨e¯’vcbv cwiPvjK| wZwb ¯’vbxq I AvšÍR©vwZK Limited, Shakil Rizvi Asset Ltd. and Rizvi Fashions

cywu RevRv‡ii Dbœq‡b ¸iæZ¡cY~ © f~wgKv cvjb K‡ib| 27 gvP© 2010 Limited. He played a vital role for the development
of both local and global Capital Market. As the
mvj †_‡K 15 gvP© 2012 mvj ch©šÍ wZwb XvKv ÷K G·‡P‡Äi
President of DSE from March 27, 2010 to March
mfvcwZ wn‡m‡e wWGmB‡K AvšÍR©vwZK m¤úª`v‡qi mv‡_ cwiPq 15, 2012, he has introduced DSE to international
Kwi‡q w`‡q‡Qb Ges Iqvì© †dWv‡ikb Ae G·‡P‡Äm Ges we‡k¦i community and played important role in building up
A‡bK weL¨vZ ÷K G·‡P‡Äi mv‡_ Nwbó m¤úK© ¯’vc‡b ¸iæZ¡cY~ © a close tie with World Federation of Exchanges and

f~wgKv cvjb K‡i‡Qb| many other renowned foreign Stock Exchanges of

the world.
wZwb 02 gvP© 2004 †_‡K 15 gvP© 2007, 28 †deªæqvwi 2009
He was elected shareholder Director of DSE from
†_‡K 15 gvP© 2012 Ges 13 †deªæqvwi 2014 †_‡K 22 gvP© March 02, 2004 to March 15, 2007, from February
2018 ch©šÍ wWGmBÕi wbe©vwPZ †kqvi‡nvìvi cwiPvjK wQ‡jb| 28, 2009 to March 15, 2012 and from February
wZwb 28 †deªæqvwi 2009 †_‡K 27 gvP© 2010 mvj ch©šÍ 13, 2014 to March 22, 2018. He acted as Vice
President of the Exchange from February 28, 2009
wWGmBÕi fvBm †cÖwm‡W›U wn‡m‡e `vwqZ¡ cvjb K‡ib| wZwb
to March 27, 2010. He was also the President of
2002 Ges 2003 mv‡j wWGmB †UªK‡nvìvm© K¬ve (mv‡eK †g¤^vim
DSE TREC Holders’ Club (former Members’ Club)
K¬ve)-Gi mfvcwZ Ges 2019 mv‡j wWGmB †eªvKvm© G‡mvwm‡qkb in 2002 and 2003 and President of DSE Brokers
Ae evsjv‡`k-Gi mfvcwZ wQ‡jb| Association of Bangladesh in 2019.

36 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

†gvnv¤§` kvnRvnvb
m`m¨: A¨vwcjm KwgwU; wbixÿv I SuywK e¨e¯’vcbv KwgwU

Mohammad Shahjahan
Member: Appeals Committee; Audit and Risk Management Committee

†gvnv¤§` kvnRvnvb evsjv‡`‡ki GKRb ¯^bvgab¨ e¨emvqx| Mohammad Shahjahan is a renowned businessman
1975 m‡b wZwb XvKv ÷K G·‡P‡Äi m`m¨c` jvf K‡ib| in Bangladesh. He became a Member of Dhaka
Stock Exchange Limited (DSE) in the year 1975.
ZLb †_‡KB wZwb XvKv ÷K G·‡P‡Äi Dbœq‡bi Rb¨ ¸iæZ¡c~Y©
Since then he has been playing a vital role in the
f~wgKv cvjb K‡i Avm‡Qb| wZwb 2004 †_‡K 2007 Ges development of DSE. He performed his duty as
2009 †_‡K 2017 mvj ch©šÍ wWGmBÕi wbe©vwPZ cwiPvjK elected Shareholder Director of DSE from 2004 to
wn‡m‡e `vwqZ¡ cvjb K‡ib| 2011 †_‡K 2013 mvj ch©šÍ wZwb 2007 and from 2009 to 2017. He also played a

wWGmBÕi fvBm †cÖwm‡W›U wn‡m‡e `vwqZ¡ cvjb K‡i‡Qb Ges vital role as the Vice President of DSE from 2011 to
2013 and as Senior Vice President from 2013 to
wmwbiq fvBm †cÖwm‡W›U wn‡m‡e 2013 I 2014 mv‡j `vwqZ¡
2014. He had remarkable contributions in the
cvjb K‡ib| wZwb XvKv ÷K G·‡P‡Äi wWwgDPz¨qvjvB‡Rk‡b demutualization of Dhaka Stock Exchange Limited.
Amvgvb¨ Ae`vb iv‡Lb| 2014 mv‡ji †deªæqvwi gv‡m In February 2014, he was elected as shareholder
wWwgDPz¨qvjvBRW XvKv ÷K G·‡P‡Äi cwiPvjbv cl©‡` wZwb director of demutualized DSE and served for 3

†kqvi‡nvìvi cwiPvjK wbe©vwPZ nb Ges 3 eQi `vwqZ¡ cvjb years. Afterwords he was again elected as
shareholder Director in 2019. He is the Managing
K‡ib| cieZx©‡Z Avev‡iv 2019 mv‡j †kqvi‡nvìvi cwiPviK
Director of Jahan Securities Limited.
wn‡m‡e wbe©vwPZ nb| wZwb Rvnvb wmwKDwiwUR-Gi e¨e¯’vcbv
Mohammad Shahjahan started his career in the
cwiPvjK|
business of jute and cotton goods. He has
†gvnv¤§` kvnRvnvb Zvui Kg©Rxeb ïiæ K‡ib cvU I Zyjv RvZ remarkable contribution in the development of Jute
Industry as well as Raw Jute export from
c‡Y¨i e¨emv w`‡q| cvU wkí Dbœq‡bi cvkvcvwk evsjv‡`k †_‡K
Bangladesh. He is the Managing Director of
KvuPvcvU ißvbx‡Z wZwb D‡jøL‡hvM¨ Ae`vb †i‡L‡Qb| wZwb gw`bv
Madina Jute Industries Ltd. and Shamsher Jute Mills
RyU BÛvw÷ªR wj. I kg‡mi RyU wgjm wj.-Gi e¨e¯’vcbv Ltd. He is the proprietor of Narshindi Jute Traders,
cwiPvjK| wZwb biwms`x RyU †UªWvm© bv‡g GKwU KvuPvcvU ißvbx a Raw Jute Export Firm. He also established Jahan
cÖwZôv‡bi ¯^Ë¡vwaKvix| mywZ Kvco ˆZwi Kivi Rb¨ wZwb Rvnvb Textile Mills for producing Cotton Fabrics. Presently,
he is acting as the Chairman of Bangladesh Jute
†U·UvBj bv‡g GKwU †U·UvBj wgj cÖwZôv K‡ib| eZ©gv‡b wZwb
Exporters’ Association and as Executive Committee
evsjv‡`k RyU G·‡cvU©vm© G¨v‡mvwm‡qk‡bi †Pqvig¨vb I
Member of Bangladesh Jute Mills Association. Prior
evsjv‡`k RyU wgjm G¨v‡mvwm‡qk‡bi wbe©vnx KwgwUi m`m¨ to that, he acted as the Chairman of Bangladesh
wn‡m‡e `vwqZ¡ cvjb Ki‡Qb| wZwb GdwewmwmAvB-Gi GKRb Jute Spinners Association. He is also a General
mvaviY m`m¨| Body Member of FBCCI.

DSE ANNUAL REPORT n­2019-20

37
 †gvt wmwÏKzi ingvb

Md. Siddiqur Rahman

†gvt wmwÏKzi ingvb GKRb mycwiwPZ e¨emvqx †bZv| eZ©gv‡b Md. Siddiqur Rahman is a front-line business leader.
wZwb †dWv‡ikb Ad evsjv‡`k †P¤^vm© Ad Kgvm© GÛ BÛvw÷ªÕi Currently, he is the Vice President of FBCCI
(Federation of Bangladesh Chambers of Commerce
fvBm †cÖwm‡W›U Ges ÷vwj©s I jvqjv MÖæ‡ci †Pqvig¨vb| wZwb & Industries). Mr. Siddiqur Rahman is the immediate
evsjv‡`k Mv‡g©›Um g¨vbyd¨vKPvivm© GÛ G·‡cvU©vm© G‡mvwm‡qkb past President of BGMEA for the period of
(wewRGgBG)-Gi m`¨ mv‡eK mfvcwZ wn‡m‡e D³ cÖwZôv‡b September, 2015 to April, 2019. Before being the
†m‡Þ¤^i 2015 †_‡K GwcÖj 2019 ch©šÍ `vwqZ¡ cvjb K‡ib| President of BGMEA, he served the trade body in
various capacities like the Vice President (Finance)
mfvcwZ nIqvi Av‡M wZwb wewRGgBGÕi 2010-2011 †gqv‡`
in 2010-2011 and the second Senior Vice President
mn mfvcwZ (A_©) Ges 2012-2013 †gqv‡` wØZxq mn mfvcwZ for the terms of 2012-2013. At present he is the
c‡` `vwqZ¡ cvjb K†ib| eZ©gv‡b wZwb wewRGgB Gi wmwbqi mn Senior Vice President of BGMEA.
mfvcwZ| At first Mr. Rahman established Sterling Garments Ltd.
†gvt wmwÏKzi ingvb cÖ_‡g ÷vwj©s Mv‡g©›Um wjwg‡UW cÖwZôv K‡ib in 1983. Later on, he founded some renowned
companies such as Sterling Apparels Ltd, Unicorn
1983 mv‡j| cieZx©‡Z wZwb ÷vwj©s A¨v‡c‡ijm wjwg‡UW, Sweaters Ltd, Sterling denims Ltd, Sterling Creations
BDwbKb© †mv‡qUvim wjwg‡UW, ÷vwj©s †Wwbgm& wjwg‡UW, ÷vwj©s Ltd, Sterling Laundry Ltd, Bando Design Ltd, Laila
wµ‡qkbm wjwg‡UW, ÷vwj©s jwÛª wjwg‡UW, e¨v‡Ûv wWRvBb Styles Ltd, Laila Shipping Line Ltd, LR Telecom Ltd,
wjwg‡UW, jvqjv ÷vBjm& wjwg‡UW, jvqjv wkwcs jvBb wj., Gj Aqua Marine Dredging Ltd-Director, TH Fishing-
Managing Partner, Blue Creations Ltd and Bando
Avi †UwjKg wj., A¨vKz¨qv †gwib †W«wRs wj.- wW‡i±i, wU GBP Trading. He is a member of the Board of Trustees of
wdwks- g¨v‡bwRs cvU©bvi, eøy wµ‡qkbm wjwg‡UW Ges e¨v‡Ûv †U«wWs BGMEA University of Fashion and Technology (BUFT).
Gi g‡Zv AviI ms¯’v cÖwZôv K‡ib| wZwb wewRGgBG BDwbfvwm©wU Mr. Siddiqur Rahman has great contribution in the
Ae d¨vkb A¨vÛ †UK‡bvjwRi (weBDGdwU) Uªvw÷ †ev‡W©i m`m¨| political arena of the country. He is now appointed
as the Secretary of the Commerce and Industry,
†gvt wmwÏKzi ingvb evsjv‡`‡ki ivR‰bwZK A½‡bI ¸iæZ¡c~Y©
Bangladesh Awami League.
f~wgKv ivL‡Qb| wZwb evsjv‡`k AvIqvgx jx‡Mi †K›`ªxq wkí I
In recognition of his extraordinary performances
evwYR¨ welqK m¤úv`K| and contributions to the economy of Bangladesh,
evsj‡`‡ki A_©bxwZ‡Z ¸iæZ¡c~Y© Ae`v‡bi Rb¨ MYcÖRvZš¿x the Government of the People's Republic of
evsjv‡`k miKvi KZ©…K Zvu‡K wewfbœ mg‡q wm.AvB.wc g‡bvbxZ Bangladesh has selected Mr. Md. Siddiqur Rahman
as the CIP (Commercially Important Person) for
Kiv nq| several times.
wZwb XvKv K¬ve wjwg‡UW, DËiv K¬ve wjwg‡UW, Avwg© Mî K¬ve Mr. Rahman is good in social interaction and
wjwg‡UW, Aj KwgDwbwU K¬ve wjwg‡UW, evsjv‡`k K¬ve wjwg‡UW, continued his social activities through the
XvKv †evU K¬ve wjwg‡UW, A¨vcv‡ij K¬ve wjwg‡UW Ges ebvbx K¬ve membership of Dhaka Club Ltd, Uttara Club Ltd,
Army Golf Club Ltd, All Community Club Ltd,
wjwg‡U‡Wi m`m¨ wn‡m‡e wewfbœ mgvRKj¨vY g~jK Kg©Kv‡Ûi
Bangladesh Club Ltd, Dhaka Boat Club Ltd,
mv‡_ RwoZ| Apparel Club Ltd and Banani Club Ltd.
wWGmBÕi †kqvi‡nvìvi †Kv¤úvwb ÷vwj©s ÷Km GÛ wmwKDwiwUR Md. Siddiqur Rahman, Chairman of Sterling Stocks
wjt-Gi †Pqvig¨vb †gvt wmwÏKzi ingvb XvKv ÷K G·‡PÄ and Securities Ltd., a shareholder company of DSE,
wjwg‡U‡Wi cwiPvjbv cl©‡`i 970 Zg †evW© mfvq me©m¤§wZµ‡g has been unanimously nominated as a Shareholder
Director of DSE Board in its 970th meeting.
wWGmBÕi †kqvi‡nvìvi cwiPvjK wn‡m‡e g‡bvbxZ nb|

38 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wk‡q I‡qbnvB
(†KŠkjMZ wewb‡qvMKvix)

Xie Wenhai
(Strategic Investors)

wk‡q I‡qbnvB 2016 mvj †_‡K †kb‡Rb ÷K G·‡P‡Äi AvBwU Xie Wenhai has been discharging his duties and
g¨v‡bR‡g›U KwgwUi †WcywU wW‡i±i †Rbv‡ij wn‡m‡e Kg©iZ Ges responsibilities as the Deputy Director-general, IT
†kb‡Rb ÷K G·‡P‡Äi AvBwU †KŠkjMZ cwiKíbvi `vwq‡Z¡ Management Committee of Shenzhen Stock Exchange
wb‡qvwRZ i‡q‡Qb| Rbve wk‡q 1990 mv‡j †kb‡Rb ÷K since 2016 and is now responsible for SZSE's IT
G·‡P‡Ä †hvM`vb K‡ib Ges wZwb Gi AvBwU wm‡÷‡gi GKRb strategy planning. Mr. Xie joined Shenzhen Stock
cÖwZôvZv m`m¨| wZwb Zvi Kg©Rxe‡b †kb‡Rb ÷K G·‡P‡Äi Exchange in 1990 and is a founding member of SZSE's
wewfbœ ¸iæZ¡cYy © c‡` `vwqZ¡ cvjb K‡i‡Qb| wZwb cwiPvjK wn‡m‡e IT system. During his career in SZSE, Mr. Xie held
mvD_I‡q÷ †m›Uvi, AvBwU †W‡fjc‡g›U wefvM I wm‡÷g important position as Director of Southwest Center,
Acv‡ikb wefv‡M `vwqZ¡ cvjb K‡i‡Qb Ges ÷K G·‡P‡Äi Director of IT Development Department, Director of
AvBwU cÖ‡KŠkj, AvBwU Acv‡ikb I cwiKíbvi Dci Zvi e¨vcK System Operation Department and has comprehensive
AwfÁZv i‡q‡Q| experience on IT Engineering, IT operation and
planning for stock exchanges.
Rbve wk‡q 2009 mvj †_‡K 2016 mvj ch©šÍ †kb‡Rb ÷K
G·‡P‡Äi Aaxb¯’ cÖwZôvb †kb‡Rb wmwKDwiwUR KwgDwb‡Kkb From 2009 to 2016, Mr. Xie was President of Shenzhen
†Kv¤úvwb wj. (GmGmwmwm) Gi †cÖwm‡W›U wn‡m‡e `vwqZ¡¡ cvjb Securities Communication Co. Ltd. (SSCC), an wholly
K‡i‡Qb, hv †kb‡Rb ÷K G·‡P‡Äi GKwU mnvqK kw³ wn‡m‡e subsidiary and an IT development and supporting arm
of SZSE. In his position as President of SSCC, Mr. Xie
KvR K‡i| †cÖwm‡W›U wn‡m‡e Rbve wk‡q GmGmwmwmÕ‡Z Kg©iZ
led the company to have breakthroughs in many new
mg‡q GdwWBwc Ges mvD_ †WUv †m›Uv‡ii g‡Zv A‡bK bZyb
business such as FDEP and South Data Center, which
e¨emv‡q mvdj¨ AR©‡b †bZ„Z¡ †`b, hv wQj GmGmwmwmÕi
have been important projects for SSCC's business. Prior
e¨emvwqK ¸iæZ¡c~Y© cÖKí| †kb‡Rb ÷K G·‡P‡Ä †hvM`v‡bi
to his career in SZSE, Mr. Xie worked for Shenzhen
c~‡e© Rbve wk‡q †kb‡Rb wmwKDwiwUR wW‡cvwRUwi †Kv¤úvwbi Securities Depository Company for 6 years and had
wK¬qvwis wefv‡M, Acv‡ikb wefv‡M I BwÄwbqvwis wefv‡M 6 eQi positions on Clearing Department, Operation
`vwqZ¡ cvjb K‡i‡Qb| Zvi c~‡e© Rbve wk‡q †kb‡Rb ¸qvs‡kb Department and Engineering Department. Before that,
dyW †Kv¤úvwb Ges †kb‡Rb evIûqv B‡j±ªwbK †Kv¤úvwb‡Z `vwqZ¡ Mr. Xie worked for Shenzhen Guangshen Food
cvjb K‡i‡Qb| Rbve wk‡q nsKs e¨vwÞ÷ wek¦we`¨vjq †_‡K Company and Shenzhen Baohua Electronic Company.
GgweG wWwMÖ AR©b K‡i‡Qb| Mr. Xie held MBA at Hong Kong Baptist University.

DSE ANNUAL REPORT n­2019-20

39
 KvRx QvbvDj nK
e¨e¯’vcbv cwiPvjK
m`m¨: g‡bvbqb I cvwi‡ZvwlK KwgwU;
wbixÿv I SuywK e¨e¯’vcbv KwgwU; we‡iva wb®úwË KwgwU

Kazi Sanaul Hoq

Managing Director
Member: Nomination and Remuneration Committee;
Audit and Risk Management Committee; Conflict Mitigation Committee

KvRx QvbvDj nK XvKv ÷K G·‡P‡Ä wjwg‡UW (wWGmB)-Gi Kazi Sanaul Hoq has joined as Managing Director
e¨e¯’vcbv cwiPvjK wn‡m‡e 9 †deªæqvwi 2020 Zvwi‡L †hvM`vb of Dhaka Stock Exchange Limited (DSE) on
February 09, 2020.
K‡ib|
He started his career as a senior officer in ICB on
wZwb AvBwmwe‡Z 1984 mv‡ji 25 A‡±vei wmwbqi Awdmvi
25 October 1984 and served in different positions
wn‡m‡e †ckvRxeb ïiæ K‡iwQ‡jb Ges GKB ms¯’vi wewfbœ c‡` in the same organization. During his service tenure
`vwqZ¡ cvjb K‡i‡Qb| Zvi PvKzwii mgqKv‡j wZwb wewfbœ e¨vsK he has served in various banks and financial
Ges Avw_©K cÖwZôv‡b wewfbœ `vwqZ¡ cvjb K‡i‡Qb| Rbve nK institutions. Prior to joining DSE Mr. Hoq served as
wWGmB‡Z †hvM`v‡bi c~‡e© ivRkvnx K…wl Dbœqb e¨vsK, Managing Director of Rajshahi Krishi Unnayan
Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k Ges Kg©ms¯’vb e¨vsK-Gi Bank (RAKUB), Investment Corporation of
e¨e¯’vcbv cwiPvjK wn‡m‡e `vwqZ¡ cvjb K‡ib| GQvovI wZwb Bangladesh (ICB) and Karmasangstan Bank. He
served as Managing Director (Current Charge) and
AMÖYx e¨vs‡Ki e¨e¯’vcbv cwiPvjK (PjwZ `vwqZ¡) I Dc-
Deputy Managing Director at Agrani Bank Limited.
e¨e¯’vcbv cwiPvjK wn‡m‡eI `vwqZ¡ cvjb K‡i‡Qb| ZvQvovI
In addition to that Kazi Sanaul Hoq served as
KvRx QvbvDj nK evsjv‡`k †W‡fjc‡g›U e¨vsK wjwg‡UW General Manager at Bangladesh Development
(wewWweGj) Ges ivRkvnx K…wl Dbœqb e¨vs‡Ki gnve¨e¯’vcK Bank Limited (BDBL) and Rajshahi Krishi Unnayan
wn‡m‡e KvR K‡i‡Qb| wZwb AvBwmwe wmwKDwiwUR †UªwWs †Kv¤úvwb Bank (RAKUB). He also served as a CEO at ICB
wjwg‡UW (AvBGmwUwmGj) Gi cÖavb wbev©nx Kg©KZv© wn‡m‡eI Securities Trading Company Limited (ISTCL).
`vwqZ¡ cvjb K‡i‡Qb| Mr. Hoq completed his B.com (Honors) and M.com
Rbve nK XvKv wek¦we`¨vjq n‡Z wnmveweÁv‡b we.Kg (m¤§vb) in Accounting from the University of Dhaka.

Ges Gg.Kg m¤úbœ K‡ib| He contributed his professional expertise as the

Chairman of ICB Capital Management Limited
wZwb AvBwmwe K¨vwcUvj g¨v‡bR‡g›U wjwg‡UW (AvBwmGgGj)-
(ICML). Apart from that he was the Director, among
Gi †Pqvig¨vb wn‡m‡e Zvi †ckvMZ `ÿZvi ¯^vÿi †i‡L‡Qb| others, of British American Tobacco Bangladesh
GQvovI wZwb weªwUk Av‡gwiKvb †Uve¨v‡Kv evsjv‡`k †Kv¤úvwb Company Limited (BATBC), Linde Bangladesh
wjwg‡UW (weGwUwewm), wj‡Û evsjv‡`k wjwg‡UW, Mø¨v‡·v w¯§_wK¬b Limited, Glaxo Smithkline Bangladesh Limited
evsjv‡`k wjwg‡UW (wRGm‡K), †i‡bUv wjwg‡UW, evsjv‡`k K…wl (GSK), Reneta Limited, Bangladesh Krishi
M‡elYv G‡Ûv‡g›U Uªv÷ (we‡KwRBwU), †µwWU †iwUs GÛ mvwf©‡mm Gobeshona Endowment Trust (BKGET), Credit
Rating and services Limited (CRISL), Standard Bank
wjwg‡UW (wmAviAvBGmGj), ÷¨vÛvW© e¨vsK wjwg‡UW, b¨vkbvj
Limited, National Tea Company Limited, Central
wU †Kv¤úvbx wjwg‡UW, †m›Uªvj wW‡cvwRUwi evsjv‡`k wjwg‡UW
Depository Bangladesh Limited (CDBL), The Padma
(wmwWweGj) Ges cÙv e¨vsK wjwg‡UWmn wewfbœ cÖwZôv‡bi Bank Limited.
cwiPvjK c‡` `vwqZ¡ cvjb K‡i‡Qb|
Mr. Hoq participated various programs, Seminars,
Rbve nK Av‡gwiKv, †bcvj, Rvg©vwb, gvj‡qwkqv Ges fvi‡Zi Workshops in USA, Nepal, Germany, Malaysia,
wewfbœ †cÖvMÖvg, †mwgbvi Ges Kg©kvjvq AskMÖnY K‡i‡Qb| and India.

40 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 e¨e¯’vcbv
MANAGEMENT

Kazi Sanaul Hoq

Managing Director

Abdul Matin Patwary, FCMA Md Ziaul Karim M. Shaifur Rahman Mazumdar, FCA, FCMA
Chief Financial Officer Chief Technology Officer Chief Operating Officer

Md. Samiul Islam Mohammad Asadur Rahman, FCS Md. Abdul Latif
GM (HR & Admin) GM & Company Secretary DGM & CRO (CC)

DSE ANNUAL REPORT n­2019-20

41
 MZ 5 eQ‡ii Avw_©K djvdj

(evsjv‡`wk UvKv wgwjqb) A_©eQi 2015-16 A_©eQi 2016-17 A_©eQi 2017-18 A_©eQi 2018-19 A_©eQi 2019-20
Avq weeiYx
Avq 1,871 2,082 2,096 2,189 1,571
e¨q 673 737 808 888 1,039
Ki c~e©eZx© gybvdv cÖ‡hvR¨ bq 1,345 1,287 1,301 531
Ki cieZx© gybvdv 1,198 1,239 1,044 974 273

bM` cÖev‡ni weeiYx

Acv‡iwUs Kvh©µg n‡Z bM` cÖevn 485 616 1,171 670 (862)

Avw_©K Ae¯’vi weeiYx

PjwZ m¤ú` 4,914 13617 13,746 11,857 9,420
PjwZ `vq 4,454 4,476 5,376 5,157 3,198
¯’vqx m¤ú` 9,397 9,677 9,802 9,915 9,617
¯’vqx `vq 400 440 473 513 286

Avw_©K AbycvZmg~n
PjwZ AbycvZ 1.10 3.04 2.56 2.30 2.95
bxU gybvdv gvwR©b (%) 64.00 59.51 50.00 44.49 17.38
BKz¨BwUi wiUvb© (%) 5.86 6.23 5.46 5.07 1.47
†gvU m¤ú‡`i wiUvb© (%) 4.73 4.99 4.18 3.91 1.24
†kqvi cÖwZ Acv‡iwUs bM` cÖevn 0.27 0.34 0.06 0.37 (0.48)

mvaviY †kqvi Z_¨

Aby‡gvw`Z g~jab 25,000 25,000 25,000 25,000 25,000
cwi‡kvwaZ g~jab 18,037 18,037 18,037 18,037 18,037
†kqvi cÖwZ AwfwnZ g~j¨ 10 10 10 10 10
†kqvi msL¨v 1,803,776,500 1,803,776,500 1,803,776,500 1,803,776,500 1,803,776,500
†kqvi cÖwZ Avq (BwcGm)* 0.75 0.74 0.58 0.54 0.15
†kqvi cÖwZ cÖK„Z m¤ú` g~j¨ (GbGwf)* 11.68 10.93 10.61 10.65 10.30
bM` jf¨vsk 10% 10% 5% 5% 3% (cÖ¯ÍvweZ)

* wWwgDPz¨qvjvB‡Rkb Zvwi‡Li †kqvi msL¨v Abyhvqx (1,803,776,500)

42 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 FINANCIAL RESULTS OF LAST 5 YEARS
(BDT million) FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20

Statement of Income

Revenue 1,871 2,082 2,096 2,189 1,571

Expenses 673 737 808 888 1,039

Net profit before tax n/a 1,345 1,287 1,301 531

Net profit after tax 1,198 1,239 1,044 974 273

Statement of Cash Flows

Cash flows from operating activities 485 616 1,171 670 (862)

Statement of Financial Position

Current assets 4,914 13617 13,746 11,857 9,420

Current liabilities 4,454 4,476 5,376 5,157 3,198

Non current assets 9,397 9,677 9,802 9,915 9,617

Non current liabilities 400 440 473 513 286

Financial Ratios

Current ratio 1.10 3.04 2.56 2.30 2.95

Net profit margin (%) 64.00 59.51 50.00 44.49 17.38

Return on equity (%) 5.86 6.23 5.46 5.07 1.47

Return on total assets (%) 4.73 4.99 4.18 3.91 1.24

Operating cash flow per share 0.27 0.34 0.06 0.37 (0.48)

Ordinary Shares Information

Authorized capital 25,000 25,000 25,000 25,000 25,000

Paid up share capital 18,037 18,037 18,037 18,037 18,037

Face value per share 10 10 10 10 10

Number of shares 1,803,776,500 1,803,776,500 1,803,776,500 1,803,776,500 1,803,776,500

Earnings per share (EPS)* 0.75 0.74 0.58 0.54 0.15

Net assets value (NAV) per share* 11.68 10.93 10.61 10.65 10.30

Cash dividend 10% 10% 5% 5% 3% (Proposed)

* Based on the number of shares as on the date of demutualization (i.e., 1,803,776,500)

DSE ANNUAL REPORT n­2019-20

43
 Graphical Presentation of Financial Results

1,039
888
808
2015-16 1,871

737
673
2016-17 2,082

2017-18 2,096

2018-19 2,189

2019-20 1,571
2015-16

2016-17

2017-18

2018-19

2019-20
Revenue (BDT mn)

Expenses (BDT mn)

0.75

0.74
6.23
5.86

5.46

5.07

0.58

0.54
1.47

0.15
2015-16

2016-17

2017-18

2018-19

2019-20

2015-16

2016-17

2017-18

2018-19

2019-20

Return on equity (%) Earnings per share (EPS)

44 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
 GK bR‡i e¨emv
BUSINESS AT A GLANCE

DSE ANNUAL REPORT n­2019-20

45
 evRvi wPÎ

(UvKv wgwjqb) A_©eQi 2015-16 A_©eQi 2016-17 A_©eQi 2017-18 A_©eQi 2018-19 A_©eQi 2019-20

evRvi g~jab 3,185,749 3,801,001 3,847,348 3,998,164 3,119,670

†gvU †jb‡`b 1,072,461 1,805,222 1,590,852 1,461,930 780,427

wWGmB eªW Bb‡W· - wWGmBG·* (c‡q›U) 4,507.58 5,656.05 5,405.46 5,421.62 3,989.09

wWGmB 30 Bb‡W· wWGm30** (c‡q›U) 1,770.82 2,083.80 1,959.95 1,929.09 1,340.98

wWGmBG· kixqvn Bb‡W· wWGmBGm*** (c‡q›U) 1,110.84 1,296.74 1,263.79 1,244.69 925.08

†gvU wmwKDwiwU‡Ri msL¨v 559 563 572 584 589

evRvi g~j¨ I Avq AbycvZ (¸bK) 14.61 15.74 14.97 14.25 10.78

evRvi g~jab Uz wRwWwc (kZvsk) 18.42 19.43 17.19 18.75 12.30

AvBwcIÕi msL¨v 11 9 11 14 3

AvBwcIÕi gva¨‡g g~jab D‡Ëvjb 8,583.00 3,900.00 5,412.50 5,710.00 3,070.00

ivBU Bmy¨i msL¨v 2 4 3 - 2

ivBU Bmy¨i gva¨‡g g~jab D‡Ëvjb 3,134.83 10,419.67 3,929.06 - 2,313.00

* Rvbyqvwi 28, 2013 Zvwi‡L wWGmB bZzb †eÂgvK© m~PK wn‡m‡e wWGmB eªW Bb‡W· (wWGmBG·) Pvjy K‡i, Gi c~‡e© wWGmB mvaviY m~PK (wWwRBGb) †eÂgvK©
m~PK wn‡m‡e cÖPwjZ wQj| wWGmB 24 b‡f¤^i 2001 Zvwi‡L wWwRBGb Pvjy K‡iwQj Ges 01 AvM÷ 2013 †_‡K D‡V hvq|
** Rvbyqvwi 28, 2013 Zvwi‡L wWGmB wWGm30 m~PK Pvjy K‡i, hvi wfwË aiv nq 1000 c‡q›U Ges ïiæ nq 1460.30 c‡q›U †_‡K|
*** Rvbyqvwi 20, 2014 Zvwi‡L wWGmB wWGmBG· kwiqvn m~PK (wWGmBGm) Pvjy K‡i, hvi wfwË aiv nq 1000 c‡q›U Ges ïiæ nq 942.50 c‡q›U †_‡K|

46 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 MARKET SCENARIO
(BDT million) FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20

Market Capitalization 3,185,749 3,801,001 3,847,348 3,998,164 3,119,670

Turnover Value 1,072,461 1,805,222 1,590,852 1,461,930 780,427

DSE Broad Index–DSEX* (points) 4,507.58 5,656.05 5,405.46 5,421.62 3,989.09

DSE 30 Index–DS30** (points) 1,770.82 2,083.80 1,959.95 1,929.09 1,340.98

DSEX Shariah Index–DSES*** (points) 1,110.84 1,296.74 1,263.79 1,244.69 925.08

Total No. of Securities 559 563 572 584 589

Market Price Earnings (P/E) Ratio (Times) 14.61 15.74 14.97 14.25 10.78

Market Capitalization to GDP (Percent) 18.42 19.43 17.19 18.75 12.30

Total No. of IPOs 11 9 11 14 3

Capital Raised through IPOs 8,583.00 3,900.00 5,412.50 5,710.00 3,070.00

Total No. of Right Issues 2 4 3 – 2

Capital Raised through Right Issues 3,134.83 10,419.67 3,929.06 – 2,313.00

* DSE launched new benchmark Index DSE Broad Index (DSEX) on January 28, 2013, before that DSE General Index (DGEN)
was the benchmark Index. DSE launched DGEN on 24 November 2001 and withdrawn from 01 August 2013.
** DSE launched DS30 Index on 28 January 2013 with base value of 1,000.00 points and opening value of 1,460.30 points.
*** DSE launched DSEX Shariah Index (DSES) on 20 January 2014 with base value of 1,000.00 points and opening value of
942.50 points.

DSE ANNUAL REPORT n­2019-20

47
 48
2015-16 559 2015-16 3,185,749

2016-17 563 2016-17 3,801,001

2017-18 572 2017-18 3,847,348

2018-19 584 2018-19 3,998,164

Total No. of Securities

Market Capitalization
2019-20 589 2019-20 3,119,670

wWGmB evwl©K cÖwZ‡e`b

Graphical Presentation of Market Scenario

n­
2015-16 18.42 2015-16 1,072,461

2019-20
2016-17 19.43 2016-17 1,805,222

2017-18 17.19 2017-18 1,590,852

2018-19 18.75 Turnover Value 2018-19 1,461,930

2019-20 12.30 2019-20 780,427

Market Capitalization to GDP (%)

 †Pqvig¨v‡bi evZ©v
CHAIRMAN’S MESSAGE

Avgiv mevB Rvwb †h wWGmB cÖwZwôZ n‡q‡Q wU‡K _vKvi

Rb¨| Gi KvVv‡gv ˆZwi n‡q‡Q mvgwMÖK A_©bxwZ‡Z
cwieZ©b Avbvi Rb¨|

“ We all know that DSE has been built to sustain,

it has been structured to bring change in the
total economic scenario of our country.

DSE ANNUAL REPORT n­2019-20

49
 wemwgjøvwni ivngvwbi ivnxg Bismillahir Rahmanir Rahim

Honorable Shareholders
m¤§vwbZ †kqvi‡nvìviMY
Assalamualaikum
Avm&mvjvgyAvjvBKzg

I would like to welcome you all to the 59th Annual

XvKv ÷K G·‡P‡Äi 59 Zg evwl©K mvaviY mfvq Avwg General Meeting of Dhaka Stock Exchange Limited. I
am very much honored and pleased to be here today.
Avcbv‡`i mKj‡K ¯^vMZ RvbvB| Avwg AvR GLv‡b Dcw¯’Z
Today marks my first AGM as the Chairman of the
_vK‡Z †c‡i AZ¨šÍ m¤§vwbZ I Avbw›`Z †eva KiwQ| XvKv Board of Directors of Dhaka Stock Exchange Limited.
÷K G·‡P‡Äi cwiPvjbv cl©‡`i †Pqvig¨vb wn‡m‡e AvR At the outset, I would like to thank and acknowledge
Avgvi cÖ_g evwl©K mvaviY mfv| ïiæ‡Z Avwg Avgvi my predecessors and former Chairmen, under whose
c~e©m~ix‡`i Ges cÖv³b †Pqvig¨vbe„›`‡K ab¨ev` I m¤§vb strong leadership and guidance, DSE was able to
strengthen its position in the financial markets of
Rvbv‡Z PvB hv‡`i †bZ…‡Z¡ I c_ cÖ`k©‡bi gva¨‡g wWGmB
Bangladesh and the globe.
evsjv‡`k I wek¦e¨vcx Avw_©K evRvi¸‡jv‡Z Zvi Ae¯’vb
Apparently, this year has entered into history being
AviI kw³kvjx Ki‡Z mÿg n‡q‡Q|
marked with corona virus pandemic. Immediately
¯úóZB, eZ©gvb eQiwU K‡ivbv fvBivm gnvgvixi Kvi‡Y after my appointment, we had to face this dire
situation which had really been marked as a scar on
BwZnv‡mi Ask n‡”Q| Avgvi wb‡qv‡Mi ciciB Avgv‡`i GB
the face of development of capital market. Even with
fqven cwiw¯’wZi gy‡LvgywL n‡Z n‡qwQj| GgbwK bxwZMZ
policy support, the economic repercussions of the
mnvqZvi ciI K‡ivbv fvBivm gnvgvixi A_©‰bwZK g›`v corona virus pandemic were thought to be long-
`xN©¯v’ qx n‡e e‡j g‡b Kiv n‡qwQj| wech©q ev gvbweK msKU lasting. Bangladesh is not new to disasters or major
evsjv‡`‡k bZzb bq| 49 eQ‡ii Aw¯ÍZ¡Kv‡j evsjv‡`k I humanitarian crises. In its 49-year existence,
Bangladesh and her people have shown tremendous
Zvi RbMY †Kej cÖvK…wZK `y‡hv©MB bq, A‡bK gvbem„ó
resilience in fending off not only natural disasters but
`y‡h©vMI cÖwZ‡iva Ki‡Z AmvaviY mnbkxjZv cÖ`k©b K‡i‡Q| also many man-made ones.

m¤§vwbZ †kqvi‡nvìvi Honorable Shareholders,

evwl©K mvaviY mfv Ggb GKwU ¸iæZ¡c~Y© †dvivg hvi gva¨‡g The Annual General Meeting is such an important
cwiPvjbv cl©` wKfv‡e mdj n‡q‡Q I wKfv‡e fwel¨‡Z forum through which the Board of Directors can get
the views, ideas, experience on what has made them
AviI AMÖMwZ AR©b Kiv hv‡e †m wel‡q gZvgZ I aviYv
successful and how to further achieve progress in
†c‡Z cv‡i Ges †kqvi‡nvìvi‡`i mv‡_ Zv‡`i cwiKíbv¸‡jv
future and also share their plans with the
Av‡jvPbv Ki‡Z cv‡i| G mfvq AZxZ Kv‡Ri mywPwšÍZ
shareholders. This is a meeting both for reflection
ch©v‡jvPbv K‡i fwel¨‡Zi Rb¨ D™¢vebg~jK KvR‡K ¯^vMZ and innovation.
Rvbv‡bv n‡q _v‡K|
We all know that DSE has been built to sustain, it has
Avgiv mevB Rvwb †h, wWGmB cÖwZwôZ n‡q‡Q wU‡K _vKvi Rb¨| been structured to bring change in the total economic
Gi KvVv‡gv ˆZwi n‡q‡Q mvgwMÖK A_©bxwZ‡Z cwieZ©b Avbvi scenario of our country. Though this organization has
Rb¨| hw`I GB ms¯’vwU mg‡qi mv‡_ mv‡_ cwiewZ©Z n‡”Q been changing over the times but remained deeply
Z_vwc GwU Gi jÿ¨, g~j¨‡eva Ges D‡Ï‡k¨i cÖwZ AZ¨šÍ my`p„ | rooted with its goals, values and purpose.

50 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

A_©‰bwZK IfviwfD Economic overview

The government led by Honourable Prime Minister

2009 mv‡j `vwqZ¡ MÖn‡Yi ci gvbbxq cÖavbgš¿x †kL nvwmbvi
Sheikh Hasina after assuming office in 2009 had
†bZ…Z¡vaxb miKvi 2021 mv‡ji g‡a¨ evsjv‡`k‡K ga¨g declared the special initiative ‘Vision 2021’ to
Av‡qi †`‡k DbœxZ Kivi we‡kl D‡`¨vM Ôwfkb 2021Õ †NvlYv graduate Bangladesh to a middle income country by
K‡iwQj| GB hyMvšÍKvix wm×všÍ evsjv‡`k‡K we‡k¦ GK Abb¨ 2021.This break-through decision raised Bangladesh
in a unique position in the world. Meanwhile,
Ae¯’v‡b DbœxZ K‡i‡Q| B‡Zvg‡a¨ evsjv‡`k GKwU Ô¯^‡ívbœZ
Bangladesh has achieved all the eligibility conditions
†`kÕ †_‡K ÔDbœqbkxj †`kÕ nIqvi Rb¨ mg¯Í †hvM¨Zv AR©b to graduate to a ‘developing country’ from a ‘least
K‡i‡Q| Avkv Kiv hv‡”Q, Av_© mvgvwRK Dbœq‡bi MwZ developed’ one. It is expected that continuing this
pace of socio-economic development, Bangladesh
Ae¨vnZ _vK‡j, evsjv‡`k wbav©wiZ mg‡qi g‡a¨ Kvw•LZ
will be transformed into the desired middle-income
ga¨g Av‡qi †`‡k iƒcvšÍwiZ n‡e| country within the stipulated time.

Z‡e K‡ivbv fvBivm gnvgvixi Rb¨ Dbœq‡bi GB MwZ aviv However, the COVID-19 pandemic was a crisis of a
wKQzUv †nvuPU †L‡q‡Q| †KvwfW-19 gnvgvixwU wQj m¤ú~Y© wfbœ completely different magnitude and one that would
require a response of unprecedented scale. Leaders
gvÎvi GKwU msKU Ges Gi Rb¨ cÖ‡qvRb wQj †Rvov‡jv
in the public and private sector had come together to
cÖ¯‘wZ| miKvwi I †emiKvwi Lv‡Zi †bZ…e„›` GKwÎZ n‡q respond to the immediate threats to health care
¯^v¯’¨ e¨e¯’vi ZvrÿwYK ûgwK Ges †`‡ki A_©bxwZ‡Z Gi systems and the long-term effects to the country’s
economy. The capital market could not escape the
`xN©‡gqv`x cÖfv‡ei cÖwZ mvov w`‡q‡Qb| cyuwRevRviI
devastating effect of the pandemic. We would like to
gnvgvixi aŸsmvZ¥K cÖfve †_‡K evuP‡Z cv‡iwb| Avgiv express our gratitude for the enhanced stimulus
gvbbxq cÖavbgš¿xi †NvwlZ cÖ‡Yv`bv c¨v‡KR¸‡jvi Rb¨ packages announced by the honorable Prime
Avgv‡`i K…ZÁZv cÖKvk Ki‡Z PvB hv wQj GKwU Afvebxq Minister which was really a commendable step in the
right direction.
Ges cÖksmbxq c`‡ÿc|
Bangladesh was set to achieve around 8.5 percent
we`vqx A_©eQ‡i evsjv‡`k cÖvq 8.5% nv‡i A_©‰bwZK cÖe„w× economic growth in the outgoing fiscal year. But in
AR©‡bi Rb¨ cÖ¯‘Z wQj| wewb‡qvM 2018-19 mv‡ji †P‡q reality, investment has declined in 2019-20 from that
2019-20 mv‡j K‡g hvq| A_©‰bwZK cÖe„w×i me‡P‡q of 2018-19. Industry and services, the two most
important drivers of economic growth, have also
¸iæZ¡c~Y© `ywU LvZ- wkí I †mev Lv‡Zi †iKW© Avkvbyiƒc bq registered dismal record. And this would surely affect
Ges hv †`‡ki A_©‰bwZK cÖe„wׇK cÖfvweZ Ki‡e| the future economic growth of the country.

†KvwfW-19 wek¦e¨vcx Qwo‡q covq, cÖavb ißvwb Sweeping global spread of Covid-19 and
containment measures in major export markets
evRvi¸‡jv‡Z wbqš¿Y e¨e¯’v Ges cÖavb Drcv`b Avq
sharply affected the export earnings and the earnings
Zxeªfv‡e cÖfvweZ nq| Avkv Kiv hv‡”Q miKv‡ii cÖ‡Yv`bvq from major manufacturing products. In 2020-21,
Ges †KvwfW-19 Gi cÖv`yf©ve bv _vK‡j 2021 mv‡ji cÖ_g gradual recovery is expected to start from the first
quarter, aided by the government's stimulus measures
cÖvwšÍ‡K A_©‰bwZK cybiæ×vi cÖwµqv ax‡i ax‡i ïiæ n‡e|
in the absence of the recurrence of Covid-19
cieZx©‡Z kw³kvjx Drcv`b wfwË Ges ˆewk¦K A_©‰bwZK MwZ outbreak. Afterwards, strong manufacturing base and
evsjv‡`k‡K `ªæZ A_©‰bwZK AMÖMwZ‡Z mnvqZv Ki‡e| recovery in global economy will enable Bangladesh
to experience a quick recovery. The inflation will stay
2020 A_©eQ‡i gy`ªvùxwZ gvSvgvwS ¯Í‡i _vK‡e Ges Lv`¨
at moderate levels in 2019-20 and 2020-21 and is
c‡Y¨i cvkvcvwk Avf¨šÍixY cÖvK…wZK M¨v‡mi `vg e„w×i Kvi‡Y expected to slightly edge up to average 5.6 percent
Lv`¨ cY¨ Qvov mKj c‡Y¨i `vg e„w×i d‡j 2021 A_©eQ‡i in 2019-20 on higher food prices as well as non-food
gy`ªvùxwZ wKQzUv e„w× †c‡q MocoZv 5.6%-G DbœxZ n‡e prices on account of higher domestic natural gas

DSE ANNUAL REPORT n­2019-20

51
 e‡j Avkv Kiv hv‡”Q| gnvgvix PjvKvjxb mg‡q, Avg`vwb I prices. During pandemic, export and import activities
fell drastically, but remittance inflow was strong.
ißvbx Kvh©µg gvivZ¥Kfv‡e n«vm †c‡qwQj, Z‡e †iwg‡UÝ
cÖevn wQj kw³kvjx| However, Bangladesh's economy is expected to
recover in fiscal year 2021 after corona virus induced
2020 A_© eQ‡i K‡ivbv fvBiv‡mi cÖeYZv n«v‡mi ci 2021 slowdown in FY2020. During FY2021, GDP growth
A_© eQ‡i evsjv‡`‡ki A_©bxwZ cybiæ×vi n‡e e‡j Avkv Kiv rate is expected to pick up to 7.5 percent driven by
gradual recovery in the first two quarters, followed by
n‡”Q| eZ©gv‡b, †cvkv‡Ki µqv‡`k¸‡jv cybivq Pvjy nIqvi
quick recovery in the following quarters. Now, the
Kvi‡Y †iwgU¨vÝ MwZ eRvq †i‡L †`‡ki A_©bxwZ ¯^vfvweK country is seeing return to normalcy in the economy
Ae¯’vq wd‡i Avm‡Z †`Lv hv‡”Q| ˆe‡`wkK gy`ªvi wiRvf© as apparel orders are flowing in again and
remittance is keeping momentum. Foreign exchange
eZ©gv‡b 41 wewjqb gvwK©b Wjvi, hv GLb ch©šÍ m‡ev©”P| 12
reserve currently stands nearly at $41 billion, which
wewjqb gvwK©b Wjv‡ii †ewk cÖ‡Yv`bv c¨v‡KR Ges cÖmvig~jK is the highest ever amount. With stimulus packages
gy`ªvbxwZi d‡j †`kwUi A_©bxwZ GKwU BwZevPK MwZ to the tune of more than $12 billion and
†c‡q‡Q| expansionary monetary policy, the country's economy
is picking up at a healthy pace.

cyuwRevRv‡ii Pjgvb Ae¯’v Ongoing Status of Capital Market

cyuwRevRv‡ii Dbœqb Ges Gi ¯’vwqZ¡ wbf©i K‡i evRv‡ii The capital market developments and its sustainability
depend on market fundamentals and the strength of
†gŠwjK welq¸‡jvi Dci Ges evRv‡ii †gŠwjK kw³
the market essentially comes from financial strength
ZvwjKvfz³ †Kv¤úvwb¸‡jvi Avw_©K kw³ †_‡K Av‡m| GKwU of the listed companies. Also, strong environment
kw³kvjx wbqš¿Y e¨e¯’v Ges cÖvwZôvwbK wewb‡qvMKvixM‡Yi created and maintained by the regulatory bodies and
participation of institutional investors and
AskMÖnY I †ckv`vi evRvi we‡kølKMY myk„•Ljfv‡e evRvi
professional market analysts help orderly market
cwiPvjbvq mnvqZv K‡i _v‡Kb| operations.

wbtm‡›`‡n †KvwfW-19 gnvgvixwU †kqvi evRv‡ii mgm¨vi There is no doubt, Covid-19 pandemic is a big
GKwU eo KviY| ÷K gv‡K©Umn GwU cÖvq mKj †m±‡ii g‡a¨ reason of the turbulence of the stock market. It
created uncertainty among almost all sectors. The
AwbðqZv ˆZwi K‡iwQj| gnvgvix ïiæ nIqvi A‡bK Av‡M capital market of Bangladesh had been going
†_‡KB evsjv‡`‡ki cyuwRevRvi wb¤œMvgx wQj Ges gnvgvix through down trend even long before starting the
evRvi‡K Av‡iv mgm¨vm¼zj K‡i‡Q| gvby‡li AvZ¥wek¦vm, pandemic and the pandemic made it worse. People’s
confidence, the deciding factor of a capital market,
cyuwRevRv‡ii g~j DcRxe¨| GB AvZ¥wek¦vm K‡g hvw”Qj Ges
was getting vanished and the pandemic made it
gnvgvix GwU‡K Z¡ivwš^Z K‡i Zz‡jwQj| D‡jøL¨ †h, `yB expeditious. It should be mentioned that the
gv‡miI †ewk mgq a‡i †jb‡`b ¯’wMZKiY Ges m~P‡Ki suspension of trading for more than two months and
the policy intervention to stop the fall of the index
cZb e‡Ü bxwZMZ n¯Í‡ÿc we‡`wk wewb‡qvMKvix‡`i
were a massive blow in case of losing the foreign
nviv‡bvi GKwU eo KviY| Z‡e GwU evRvi‡K iÿv Kivi Rb¨ investors. But it was a situational decision to save
cwiw¯’wZMZ wm×všÍ wQj| wmwKDwiwU‡Ri g~j¨ K‡g hvIqv market. BSEC ordered the bourses to set the floor
prices of stocks to prevent the securities from sinking
†iv‡a weGmBwm †d¬vi cÖvBm wba©vi‡bi Av‡`k w`‡qwQj|
further.
D‡ËRbv, fxwZ Ges wewb‡qvMKvix‡`i Aw¯’i g‡bvfve The agitated, fearful, and volatile sentiment of the
G·‡P‡Äi eZ©gvb Ae¯’vq ¸iæZ¡c~Y© f~wgKv cvjb K‡iwQj| investors played significant role in the recent moves

52 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Z‡e weGmBwmÕi bZzb Kwgkb MV‡bi d‡j †mB nviv‡bv of the main bourse in Bangladesh. But the confidence
got restored when the new Commission took
AvZ¥wek¦vm A‡bKUv wd‡i G‡m‡Q|
responsibility.
Bnv wPimZ¨ †h, mK‡ji mev©Z¥K mg_©b Ges mn‡hvwMZv Naturally it is true that the all out support and co-
Aek¨B †h‡Kvb mgm¨v `~i Ki‡Z Kvh©Ki| B‡Zvg‡a¨ miKvi operation from all corners would surely make the sky
GKwU MwZkxj cyuwRevRvi wbwðZ Ki‡Z wewfbœ c`‡ÿc clear. Government has already taken various steps to
wb‡q‡Q| Ab¨vb¨ ÷K G·‡P‡Äi gZ XvKv ÷K G·‡PÄI ensure a vibrant capital market. Like other stock
cZ‡bi cÖeYZv †_‡K Ny‡i `vuwo‡q‡Q| g›`v evRvi cybiæ×v‡iI exchanges Dhaka Stock Exchange has also turned
around from the falling trend. Market capitalization
mvaviY wewb‡qvMKvix‡`i Av¯’v evov‡Z wbqš¿Y ms¯’vi
at DSE is in increased trend in the current fiscal year
c`‡ÿ‡ci d‡j eZ©gvb A_©eQ‡i (2020-2021) XvKv ÷K (2020-21) amid growing general investors’
G·‡P‡Äi evRvi g~jab e„w× †c‡q‡Q| †`k-we‡`‡ki confidence over regulatory moves to revive the
wewb‡qvMKvix‡`i Av¯’v wdwi‡q Avb‡Z wbqš¿Yg~jK c`‡ÿ‡ci sinking market. Dhaka Stock Exchange has been
ga¨ w`‡q D‡`¨vMx wewb‡qvMKvixiv †UªwWs †d¬v‡i mwµq _vKvq observing superb sessions as the enthusiastic
investors remained active on the trading floor. At
XvKv ÷K G·‡PÄ PgrKvi †jb‡`b ce© Dc‡fvM Ki‡Q|
present, the lower interest rate, increasing exports
eZ©gv‡b wb¤œ my‡`i nvi, µgea©gvb idZvwb I †iwgU¨vÝ Ges
and remittances and the reopening of the economy
cybivq A_©‰bwZK mwµqZvi d‡j wWGmB cÖvYešÍ n‡q‡Q| have led to the rally in the DSE.

Avgv‡`i Kvh©µg Our activities

Just after taking the charge by the new Board of

bZzb cwiPvjbv cl©` `vwqZ¡ †bqvi ci gnvgvixi cÖv`yfv© e N‡U|
Directors the pandemic was out broken but we had
Z‡e Avgiv evRv‡ii cvkvcvwk †UªK‡nvìvi‡`i Kj¨v‡Yi Rb¨
been working digitally for the wellbeing of the TREC
wWwRUvj cøvUd‡g© KvR K‡i hvw”Qjvg| A‡bK evav wecwË Holders as well as the market. In spite of many
m‡Ë¡I eZ©gvb cwiPvjbv cl©` wWGmBÕi Av‡qi LvZmg~‡ni hindrances the present Board of Directors had
ˆewPΨ Avb‡Z eûwea D‡`¨vM MÖnY K‡i‡Q| Avgiv GKB mv‡_ attempted multifarious initiatives to diversify the
income generating heads of DSE. We have been
m¤§vwbZ †kqvi‡nvìvi, cywu RevRvi Ges cÖZ¨ÿ ev c‡ivÿfv‡e
simultaneously thinking the betterment of the
mswkøó mKj †÷K‡nvìvi‡`i DbœwZi K_v fvewQ| d‡j GB honorable shareholders, capital market and the
cÖwZeÜKZv¸‡jv wWGmBÕi Rb¨ eQiwU‡K †ewk msKUvcbœ entire stakeholder directly or indirectly concerned with
Ki‡Z cv‡iwb| gnvgvixi Kvi‡Y cyuwRevRvi `yB gv‡miI †ewk DSE. So, all those hindrances could not make the
mgq eÜ wQj| Z‡e eZ©gvb cwiPvjbv cl©` Ges e¨e¯’vcbv year worst for DSE. Due to pandemic the capital
market was closed more than two months. But the
KZ…©cÿ weGmBwmÕi wb‡`©kbv I mn‡hvwMZvq gnvgvixi ÿwZ
present Board and the Management along with the
Kgv‡Z wbijmfv‡e KvR K‡i hv‡”Q| guidelines and co-operation of BSEC had been
working relentlessly to cover the loss of pandemic.
XvKv ÷K G·‡PÄ wjwg‡U‡Wi Dbœqb kZ©-mv‡cÿ| Gi gybvdv
AR©b I Avq e„w× A‡bK¸‡jv wel‡qi Dci wbf©i K‡i| The development of Dhaka Stock Exchange Limited
cÖ_gZt Gi †jb‡`‡bi cwigvY‡K Ggb ¯Í‡i DbœZ Kiv `iKvi is conditional. Its profit making and income
generation depend on many factors to be properly
hv wWGmBÕi Li‡Pi GKwU eo Ask‡K wbe©vn Ki‡Z mÿg nq|
functional. Firstly, it needs to enhance its transaction
GQvovI Avgv‡`i A‡bK¸‡jv Drm i‡q‡Q hv A‡bK¸‡jv volume to such a level which could cover a major
Ôhw`iÕ Dci wbf©ikxj| †hgb: †WUv wewµ, weÁvcb, portion of costs of DSE. Other than this, we have
ZvwjKvfzw³i wd, cÖKvkbv, †KŠkjMZ Askx`vi‡`i KvQ †_‡K many sources which require the answers of many ‘ifs’.
mnvqZv P~ovšÍ Kivi ci we‡`wk †mev cÖ`vbKvix‡`i mv‡_ Pzw³ Such as the income from data sale, advertisement,

DSE ANNUAL REPORT n­2019-20

53
 evwZj Kivi gva¨‡g A_© mvkªq, wWGmB UvIqvi, Kvcvwmqvi listing fees, publication, saving money through
Rwg Ges wWGmBÕi gwZwSj wewìs Gi g‡Zv m¤úwËi h_vh_ discontinuing the agreements with foreign vendors
after finalizing support from strategic partner, proper
e¨envi BZ¨vw`| Z‡e Avgv‡`i Kv‡Q wWGmBÕi mev©waK
utilization of estate properties like DSE Tower, Kapasia
¸iæZ¡c~Y© Avq n‡”Q wkwÿZ wewb‡qvMKvix M‡o †Zvjvi Land, DSE Motijheel Building etc. But to me the most
cvkvcvwk ¯§vU©, ÎæwUnxb †UªwWs cøvUdg© cÖ`v‡bi gva¨‡g Gi important income of DSE is to build up the image and
fveg~wZ© e„w× Ges RbM‡Yi Av¯’v AR©b Kiv| eZ©gvb cwiPvjbv earn the confidence of investors in providing the
cl©` GB me RvqMvq KvR Kivi †ÿ‡Î AZ¨šÍ AvšÍwiK| smart, flawless trading platform along with building
a regime of educated investors. The present Board is
eZ©gvb cwiPvjbv cl©` Ggb mg‡q KvR ïiæ K‡iwQj hLb very sincere in working those areas.
GZUv Ae`vb ivLvi my‡hvM wQj bv| bZzb cÖwZ‡hvwMZv e„w×i
The present Board has started its tenure in a time
cwi‡cÖwÿ‡Z Avgv‡`i †KŠkj wQj ¯^Zš¿ kw³i †ÿθ‡jv‡K when there was not so much opportunities to explore.
¯^xK…wZ †`qv Ges M‡o †Zvjv| e„w× Ges weKvk evavMÖ¯’ K‡i Given the growth of new competition, our strategy
Ggb `yej © c‡q›U¸‡jv AbymÜvb Kivi Rb¨ Avgiv †Póv K‡iwQ had also been to recognize and build on the areas
Ges B‡Zvg‡a¨ †m mgm¨v¸‡jv mgvavb Kiv n‡q‡Q | wb¤œ of distinctive strength. We have also tried to find out
the weak points for which growth and development
wjwLZ KvR¸‡jv eZ©gvb cwiPvjbv cl©‡`i Kv‡Ri GKUv
were being hampered and by now attempts have
aviYv w`‡Z cv‡i t been taken to rectify/overcome some weak points.
l wbiew”Qbœ †jb‡`b wbwðZ Ki‡Z wWGmB AvBwU †K m¶g The following tasks can give an idea of the activities
Kiv| of present Board of Directors:

l wWRv÷vi wiKfvwi (wWAvi) Ges †WUv †m›Uvi ¯’vcb l Enabling DSE IT to ensure uninterrupted trading.
Kiv| l Establishing Disaster Recovery (DR) and Data
Centre.
l wcÖ-I‡cwbs Ges †cv÷-†K¬vwRs †mkb¸wj Pvjy Kiv|
l Introducing pre-opening and post-closing
l †UªK‡nvìvi‡`i Rb¨ g¨vwPs BwÄb GwcAvB (Gwcø‡Kkb sessions.
†cÖvMªvwgs B›Uvi‡dm) Gi Aby‡gv`b|
l Approving Matching Engine API (Application
GmGgB, GwUwe Ges miKvwi wmwKDwiwU‡Ri †jb‡`‡bi m~Pbv Programming Interface) to the TREC holders.
Kivi †ÿ‡Î wWGmB‡K GKwU wekvj bxwZ mnvqZvi †`qvi We would like to offer special thanks to the new
Rb¨ weGmBwmÕi †Pqvig¨vb Aa¨vcK wkewj iæevBqvZ-Dj- Commission headed by Professor Shibli Rubayat-Ul-
Bmjv‡gi †bZ…‡Z¡ bZzb Kwgkb‡K we‡klfv‡e ab¨ev` Rvbv‡Z Islam, Chairman of BSEC for providing DSE a huge
policy support to initiate SME, ATB and trading of
PvB| GB bZzb cÖwZôvb¸‡jv Aek¨B gnvgvix cieZx©
GSEC in the market. These new incorporations would
cyuwRevRvi‡K bZzb K‡i M‡o Zzj‡Z BwZevPK f~wgKv cvjb
surely have a positive impact to rejuvenate the post
Ki‡e| pandemic capital market.

A_©‰bwZK Kg©KvÛ Financial Performance

The financial performance during the year 2019-20

K‡ivbv fvBivm gnvgvixi Kvi‡Y `xN© mgq †jb‡`b eÜ _vKvq
was impacted by long shutdown of the exchange due
†jb‡`‡bi cwigvY Ges my‡`i nvi n«vm cvIqvq Avw_©K to corona virus pandemic, low trade volumes and
cvidig¨vÝ cÖfvweZ n‡q‡Q| 2019-2020 A_©eQ‡i declining interest rates. However, in the financial year
G·‡P‡Äi Avq 28% K‡g 1,575 wgwjqb UvKv n‡q‡Q, hv 2019-20 the Exchange made revenue of BDT 1575
million. This is the decrease of 28% compared to BDT
2018-2019 mvj wQj 2,189 wgwjqb UvKv| 2189 million recorded in 2018-19.

54 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

K…ZÁZv Gratitude

At long last, I must offer my deep gratitude to the

Avw_©K I Ab¨vb¨ cÖ‡Yv`bvg~jK bxwZgvjv cÖYq‡bi gva¨‡g
stock market friendly Government for providing fiscal
evRvi Dbœq‡b f~wgKv ivLvi Rb¨ cyuwRevRvi evÜe miKvi‡K and other policy support and crisis incentives. I am
Avgvi cÿ †_‡K Mfxi K…ZÁZv Rvbvw”Q| cywu RevRv‡i `ÿZv really pleased to express the profound appreciation
e„w× I k„•Ljv Avbq‡bi hvÎvq hviv Avgv‡`i wbfv©i †i‡L‡Qb to our regulator–Bangladesh Securities and Exchange
Commission as the light bearer to capital market
†mB wbqš¿K ms¯’v evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ
showed us way in tackling any problem in the journey
Kwgkb‡K RvbvB AvšÍwiK K…ZÁZv| of promoting efficiency and enforcing orderliness in
the Capital Market.
Avwg ab¨ev` Rvbv‡Z PvB m¤§vwbZ †kqvi‡nvìviMY‡K hv‡`i
I must not forget to thank shareholders for their
kZ©nxb mg_©b I mn‡hvwMZvi gva¨‡g evRv‡i Q›` wd‡i
unconditional support and co-operation in bringing
G‡m‡Q| Avwg ab¨ev` Rvbv‡Z PvB A_©gš¿Yvjq, RvZxq ivR¯^ back the rhythm of the capital market. I would like to
†evW©, evsjv‡`k e¨vsK, wWGmB †UªK‡nvìvim&, wWGmB †eªvKvm© sincerely thank the Ministry of Finance, National
G‡mvwm‡qkb Ae evsjv‡`k, †m›Uªvj wW‡cvwRUwi evsjv‡`k, Board of Revenue, Bangladesh Bank, DSE TREC
Holders, DSE Brokers Association of Bangladesh,
evsjv‡`k gv‡P©›U e¨vsKvm© G‡mvwm‡qkb, evsjv‡`k
Central Depository Bangladesh, newly formed
G‡mvwm‡qkb Ae cvewjKwj wj‡÷W †Kv¤úvwbR, Central Counterparty Bangladesh Limited,
G‡mvwm‡qkb Ae e¨vsKvm© evsjv‡`k, evsjv‡`k G‡mvwm‡qkb Bangladesh Merchant Bankers’ Association,
Bangladesh Association of Publicly Listed Companies,
Ae e¨vsKm, evsjv‡`k BÝwUwUDU Ae K¨vwcUvj gv‡K©U,
Association of Bankers Bangladesh, Bangladesh
evsjv‡`k BÝy¨‡iÝ G‡mvwm‡qkb Ges wcÖ›U, B‡j±ªwbK Ges Association of Banks, Bangladesh Institute of Capital
AbjvBb wbDR †cvU©v‡ji m¤§vwbZ mvsevw`K I Ab¨vb¨ Market, Bangladesh Insurance Association and the
†÷K‡nvìviMY‡K hv‡`i mn‡hvwMZvq G·‡P‡Äi hvÎv gm„Y Reporters of Print, Electronic and Online News Portal
and other stakeholders who have supported the
n‡q‡Q|
Exchange on its smooth journey.
Avwg Avgvi cwiPvjbv cl©‡`i m¤§vwbZ m`m¨e„›`, wWGmBÕi I would also like to thank my honourable colleagues
e¨e¯’vcbv cwiPvjK I Kg©KZv©M‡Yi c~Y© `j‡K ab¨ev` w`‡Z in the DSE Board, DSE Managing Director and entire
PvB hv‡`i wbôv I cÖwZkÖæwZ c~iY KwVb mg‡qI G·‡P‡Äi team of staff for their dedication and commitment in
ensuring the Exchange to meet its objectives even
†KŠkjMZ D‡Ïk¨c~iY wbwðZ K‡i‡Q| during challenging times.

ab¨ev`v‡šÍ Thanking you

†gvt BDbymyi ingvb Md. Eunusur Rahman

†Pqvig¨vb Chairman
XvKv ÷K G·‡PÄ wjwg‡UW Dhaka Stock Exchange Limited

December 3, 2020
wW‡m¤^i 3, 2020

DSE ANNUAL REPORT n­2019-20

55
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

Avgv‡`i Pvlxiv nj me‡P‡q `y:Lx I wbh©vwZZ Ges Zv‡`i

Ae¯’vi DbœwZi Rb¨ Avgv‡`i D‡`¨v‡Mi weivU Ask
Aek¨B Zv‡`i †cQ‡b wb‡qvwRZ Ki‡Z n‡e
- RvwZi RbK e½eÜz†kL gywRei ingvb
 e¨e¯’vcbv cwiPvj‡Ki evZ©v
MESSAGE FROM MD

cÖwZ c`‡¶‡c wWGmB bZzb P¨v‡j‡Äi gy‡LvgywL n‡q‡Q Ges GwU

¯úó †h GB mg¯Í P¨v‡jÄ †gvKv‡ejv Kivi Ges fvj djvdj
Avbvi h‡_ó m¶gZv wWGmBÕi i‡q‡Q|

“ In every step, DSE has been facing new challenge

and it is clear that DSE has the sufficient potentiality
to face all these challenges and bring good result.

DSE ANNUAL REPORT n­2019-20

57
 m¤§vwbZ †kqvi‡nvìvie„›` Honorable Shareholders
Avmmvjvgy AvjvBKzg, Assalamu Alaikum,

ïf mܨv| Avwg XvKv ÷K G·‡P‡Äi 59Zg evwl©K mvaviY Good evening. I am extremely happy in
mfvq e¨e¯’vcbvi cÿ †_‡K Avcbv‡`i Awfb›`b Rvbv‡Z †c‡i congratulating all of you at the 59th AGM on behalf
AZ¨šÍ Avbw›`Z| MZ 35 eQ‡i miKvwi ivóªvqZ¡ wewb‡qvMKvix of management. It is very fortunate for me to work in
cÖwZôvb AvBwmwe, e¨vsK I cyuwRevRv‡i KvR Kivi †mŠfvM¨ the last 35 years in state-owned investment institute
ICB, bank & capital market. Such affiliation with the
Avgvi n‡q‡Q| cyuwRevRv‡ii mv‡_ G RvZxq ms‡hvM Avgvi Rb¨
capital market is a very fruitful exercise for me which
LyeB djcÖmy n‡q‡Q hv Avgvi K¨vwiqv‡i bZzb cÖ‡ek Øvi Db¥y³
opened a new gateway to my career and I am very
K‡i‡Q| †`‡ki cÖavb cyuwRevRvi XvKv ÷K G·‡P‡Ä wjwg‡UW-
grateful to you for allowing me joining DSE, the main
G †hvM `vb Ki‡Z †c‡i Avwg Avcbv‡`i cÖwZ K…ZÁ| bourse of the country.
Avgiv mK‡jB Rvwb 2020 mvj Lye fvjfv‡eB ïiæ n‡qwQj, We all are aware that beginning of the year 2020
A_©bxwZi mKj m~PK m‡šÍvlRbK wQj| wKš‘ 2020 mv‡ji gvP© was good and economic indicators were satisfactory
but from March 2020 COVID-19 pandemic began
gvm n‡Z wek¦e¨vcx †KvwfW-19 gnvgvix Qwo‡q c‡o| hv wQj
to ravage the whole world. This was very
LyeB AbvKvw•LZ Ges AcÖZ¨vwkZ| Avwg hLb G·‡P‡Ä †hvM unprecedented and the whole world was not
w`‡qwQ ZLb GwU GKwU KwVb mg‡qi ga¨ w`‡q hvw”Qj| msKUwU prepared to handle it. When I joined in the exchange,
cÖvq me RvqMvq wewb‡qvMKvix‡`i cÖfvweZ K‡iwQj| it was passing through a difficult time. The crisis
affected people almost everywhere. Investors were
wewb‡qvMKvixiv nZvk n‡qwQ‡jb Ges Zv‡`i g‡a¨ AvZ¥wek¦v‡mi
disappointed and there was huge lack of confidence
Afve †`Lv w`‡qwQj| G mg‡q miKvi I weGmBwm cywu RevRvi‡K
among them. During this time the Government and
Pv½v Ki‡Z †ek wKQz ¯^í †gqv`x I `xN© †gqv`x c`‡ÿc MÖnY BSEC have taken various short term and long term
K‡i‡Q| gvbbxq cÖavbgš¿xi AvšÍwiK D‡`¨v‡M †`k-we‡`‡ki measures to rejuvenate the stock market and bring
mg¯Í wewb‡qvMKvix‡`i g‡a¨ Av¯’v AR©‡b GKwU wekvj BwZevPK dynamism into the sector. The sincere concern of the
Honourable Prime Minister created a positive impact
cÖfve ˆZwi K‡i|
among all the investors of home and abroad.
cÖwZ c`‡¶‡c wWGmB bZzb P¨v‡j‡Äi gy‡LvgywL n‡q‡Q Ges GwU In every step, DSE has been facing new challenge
¯úó †h GB mg¯Í P¨v‡jÄ †gvKv‡ejv Kivi Ges fvj djvdj and it is clear that DSE has the sufficient potentiality
Avbvi h‡_ó m¶gZv wWGmBÕi i‡q‡Q| fvj Ges Lvivc Dfq to face all these challenges and bring good result.
DSE is unique in supporting the investors of the
mg‡qB evRv‡ii wewb‡qvMKvix‡`i mnvqZv Kiv, cwi‡lev‡Z `„p
market in both good and bad times, in having
cÖwZÁ Kgx© ivLv Ges †UKmB Dbœq‡bi Rb¨ ¯^”Q I `xN©‡gqv`x employees that go far beyond the ordinary in terms
fveg~wZ© a‡i ivLvi †¶‡Î XvKv ÷K G·‡PÄ Abb¨| of a strong commitment to service and in having clear
and long-term image which is really essential for
AvR, Avwg `„pZvi mv‡_ ej‡Z cvwi †h g~j bxwZ¸‡jvi wfwË
sustainable development.
wn‡m‡e fvj K‡c©v‡iU Mf‡b©Ý nj Ggb GKwU Pjgvb cÖwZkÖæwZ
Today, I can firmly say that being a cornerstone of
hv Avgv‡`i cwiPvjbv cl©`, e¨e¯’vcbv, mg¯Í †kqvi‡nvìvi Ges basic principles, good corporate governance is an
cyuwRevRv‡ii mv‡_ m¤úwK©Z †÷K‡nvìvi‡`i g‡a¨ mw¤§wjZ ongoing commitment shared by our Board of
Askx`vixZ¡ ˆZwi nq| wWGmB wek¦vm K‡i †h, fvj K‡c©v‡iU Directors, our Management and all the shareholders
and stakeholders associated with the capital market.
Mf‡b©‡Ýi gva¨‡g `xN©‡gqv`x e¨emvwqK mvdj¨ Av‡iv e¨vcKfv‡e
DSE believes that good corporate governance
cÖmvwiZ nq| wWGmB mvgvb¨Zg †Kvb Am½wZ‡ZI k~b¨ accompanies and greatly propels the long-term
mnbkxjZv cÖ`k©b K‡i Ges ms¯’vi fveg~wZ©‡K ¯^”Q ivL‡Z business success. DSE is committed to show zero
cÖwZkÖæwZe×| evRv‡i mymsnZ K‡c©v‡iU kvmb eRvq ivL‡Z c~Y© tolerance in any slightest anomalies and keep the

58 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

mnvqZv cÖ`v‡bi Rb¨ evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ image of the organization transparent. I would like
Kwgk‡bi cÖwZ Avgvi kÖ×v I K…ZÁZv Rvbvw”Q| to show my epic gratitude to Bangladesh Securities
and Exchange Commission for providing full
XvKv ÷K G·‡PÄ wjwg‡UW Zvi †kqvi‡nvìvi f¨vjy evov‡Z assistance in maintaining and sustaining good
¯^”QZv, Revew`wnZv Ges cÖhyw³MZ DrK‡l©i bxwZ¸wj‡Z corporate governance in the market.
cÖwZkÖæwZe×| cÖwZôvbwU GKwU ÎæwUnxb Ges hy‡Mvc‡hvMx Dhaka Stock Exchange Limited is committed to the
†jb‡`b cø¨vUdg© cÖwZôvq e¨vcK cÖ‡Póv Ae¨vnZ ivL‡Q| principles of transparency, accountability and
technological excellence to enhance its shareholder
AZvwjKvfz³ †Kv¤úvwbi AskMÖn‡Yi gva¨‡g wewb‡qvMKvix‡`i
value. It has been providing huge importance on
AvKl©Y Kiv Ges †fÂvi K¨vwcUvj I bZzb †Kv¤úvwbi my‡hvM
establishing a flawless and unique trading platform.
ˆZwii †ÿ‡Î GmGgB †evW© I GwUwe PvjyKiY DfqB g~j †ev‡W©i The initiative to launch SME Board and to roll out an
Amvgvb¨ ms‡hvRb| †KŠkjMZ wewb‡qvMKvix wn‡m‡e †kb‡Rb alternative trading board or ATB, a unique platform
÷K G·‡PÄ Ges mvsnvB ÷K G·‡P‡Äi Kb‡mvwU©qvg 14 †g, where non-listed companies can participate to attract
investors are both outstanding in addition to the main
2018 mv‡j GB ms¯’vi 25% †kqvi AR©b K‡i‡Q| wbijm
Board to open up an opportunity for venture capital
D‡`¨vM, ¯^v_© mswkøó mK‡ji cÖ‡Póv Ges †KŠkjMZ
and start-ups. On May 14, 2018, the consortium of
wewb‡qvMKvix‡`i mn‡hvwMZvq, wWGmB GB A‡j GKwU Shenzhen Stock Exchange and Shanghai Stock
kxl©¯’vbxq G·‡PÄ wn‡m‡e cÖwZôv †c‡Z KvR K‡i hv‡”Q| Exchange as the Strategic Investor, acquired 25%
stake of the DSE. With the relentless initiatives, effort
wewfbœ cÖwZK~jZv m‡Ë¡I Avgv‡`i AR©b¸‡jv wQj mvdj¨gwÐZ|
of related parties and association of strategic
cY¨ ˆewPΨ Avb‡Z wWGmB e¨vcKfv‡e KvR K‡i P‡j‡Q| investors, DSE continues to be a leading bourse in
wewb‡qvMKvix‡`i †cvU©‡dvwjI‡Z ˆewPΨ Avbvi my‡hvM wQj this region ever since.
mxwgZ| GLb wewb‡qvMKvixMY Zv‡`i cY¨¸‡jv Ab¨ weKí Though we had some adversities, our achievements
cY¨¸wji mv‡_ mvRv‡Z cvi‡e KviY wWGmB GmGgB Ges are not so small. DSE has extensively been working
to bring product diversification. The investors had
GwUwe Pvjy Kivi Ges miKvwi wmwKDwiwUR, myKzK BZ¨vw` m~Pbv
limited scope to make their portfolios diversified. Now
Kivi D‡`¨vM wb‡q‡Q| they have the opportunity to decorate their portfolio
cyuwRevRv‡ii Rb¨ msMwVZ Ges wkw¶Z wewb‡qvMKvix ˆZwi with other alternative products as DSE is initiating
SME and ATB, trading of Government Securities,
Ki‡Z Ges wewb‡qvMKvix‡`i wk¶v Ges myi¶vi ¸iæZ¡ m¤ú‡K©
Sukkuk etc.
m‡PZbZv e„w×i j‡¶¨ wWGmB B›Uvib¨vkbvj AM©vbvB‡Rkb Ae
DSE has been actively working with International
wmwKDwiwUR Kwgkbm (AvBIGm‡Kv) Gi mv‡_ mwµqfv‡e KvR Organization of Securities Commissions (IOSCO) to
K‡i hv‡”Q| GwU wewb‡qvMKvix-†Kw›`ªK †hvMv‡hvM I cwi‡levw` create an organized and educated investors base for
Pvjy Kiv, wewb‡qvMKvix‡`i wk¶vg~jK D‡`¨v‡Mi cÖPvi, Kg©kvjv capital market and to raise awareness about the
importance of investor education and protection. It
I m‡¤§jb Av‡qvRb Ges ¯’vbxq/RvZxq cÖPviKvR¸wj Zv‡`i
has also been attempting variety of activities,
wbR¯^ AvIZvi cvkvcvwk weGmBwmÕi mn‡hvwMZvq wewfbœ ai‡Yi including launching investor-focused communications
Kvh©µg cvjb K‡i Avm‡Q| wWGmB wek¦vm K‡i †h, GB wk¶v and services, promoting investor education initiatives,
cyuwRevRv‡i Aw¯’iZv n«v‡m mnvqK f~wgKv ivL‡e| wWGmB Av‡iv organizing workshops and conferences and
conducting local/national campaigns in their own
wek¦vm K‡i †h, wewb‡qvMKvix‡`i wkw¶Z Kiv Z_¨wfwËK
jurisdictions as well as in association with BSEC. DSE
cyuwRevRvi cÖwZôvi cÖ_g c`‡¶c|
believes that the education would help investors in
AvšÍR©vwZK m¤úK© MV‡bi †¶‡Î wWGmB AMÖMY¨ f~wgKv cvjb protecting them from volatility in the equity market
and also reduce volatility in individual stocks. DSE
Ki‡Q| GwU WweøDGdB, †md, GIGmBGd, IAvBwm,
believes that educating the investors is the first step
wRAviAvB, BDGbGmGmBÕi m`m¨ n‡q‡Q Ges weGmB Ges of establishing an informative stock exchange.

DSE ANNUAL REPORT n­2019-20

59
 Kj‡¤^v ÷K G·‡P‡Äi mv‡_ mg‡SvZv ¯§viK ¯^v¶i K‡i‡Q| In regard to building international relationship DSE
has been doing very well. It has become member of
GB AvšÍRv© wZK m¤úK©¸wj we‡`wk wewb‡qvMKvix‡`i Av¯’v AR©‡b
WFE, SAFE, AOSEF, OIC, GRI, UNSSE and signed
G·‡P‡Äi GKwU eo G·‡cvRvi ˆZwi K‡i‡Q| evwYR¨ I
MoUs with BSE and Colombo Stock Exchange. These
e¨emv‡qi †¶‡Î cv_©K¨ ˆZwii †¶‡Î, mdj evwYR¨bxwZ cÖPv‡ii international relations have created a big exposure
Rb¨, DbœZ I nvjbvMv` cÖhyw³ MÖnY Kiv, bZyb †ÿÎ m¤¢vebvi of the exchange to reach to the foreign investors. In
case of making a difference in trade and business, to
my‡hvM mÜv‡b AvšÍR©vwZK G·‡cvRvi nIqv Riæwi| wWGmB
promote successful trade policy, to adopt developed
cÖwZôv‡bi AvšÍR©vwZK m½x‡`i mv‡_ mym¤úK© eRvq ivL‡Z and updated technology, to explore new
AZ¨šÍ mZK© I AvšÍwiK| opportunities, the international exposure is a must.
DSE is very careful and sincere in fruitfully
GwU me©Rb¯^xK…Z †h, cÖhyw³ nj †Kvb †`k, AÂj Ges kn‡ii
maintaining the relationship with its international
A_©‰bwZK cÖe„w×i g~j PvwjKv kw³| wWGmB‡Z Avgiv GKwU peers.
cÖhyw³MZ weeZ©b †`‡LwQ| wWGmB Zvi GmGgB †evW©, GwUwe It is widely accepted that technology is the key driver
Ges †gvevBj †U«wWs MwZkxj I cÖvYešÍ Kivi Rb¨ µm-eW©vi of economic growth of countries, regions and cities.
g¨vP-†gwKs cø¨vUdg© wf-†b·U cÖeZ©b K‡i‡Q, hv †hvM¨ In DSE we saw a technological evolution. DSE has
wewb‡qvMKvix, ga¨¯’ZvKvix Ges bZyb †Kv¤úvwb¸wji g‡a¨ introduced cross-border match-making V-Next
platform, a one-stop pitching mechanism among
GKgywL cÖwµqvq †hvMv‡hvM ¯’vcb K‡i| wWGmB Zvi †KŠkjMZ
qualified investors, intermediaries and start-ups to
j¶¨¸wji mywbw`©ó djvdj Avb‡Z GKwU `¶ I wb‡ew`Z Kg©x promote its SME Board, ATB, Mobile Trading. DSE has
`j MVb K‡i‡Q| built up a team of efficient and dedicated workforce
to bring the concrete result of its strategic goals.
Avgv‡`i e¨e¯’vcbv `j wb‡ew`Zfv‡e bZyb e¨emvi mÜv‡b m‡Pó
Our Management team is dedicatedly looking for
i‡q‡Q| G e¨vcv‡i c`‡¶c wb‡Z Avgiv ¯’vbxq Ges ˆewk¦K Dfq
new business. We are exploring both the local and
evRviB A‡š^lY KiwQ| Avgv‡`i †KŠkjMZ wewb‡qvMKvix‡`i
global market to land the foot step of DSE. With the
mnvqZvq Avgiv wWGmBÕi m¤¢ve¨ e¨emvwqK †ÿÎwU Luy‡R †ei help of our strategic investors we are trying to figure
Kivi c`‡ÿc MÖn‡Y m‡Pó i‡qwQ| out the possible business for DSE.

XvKv ÷K G·‡PÄ wjwg‡U‡W (wWGmB) ivwkqv, †gw·‡Kv ev The Dhaka Stock Exchange (DSE) Limited has more
listed companies than emerging markets like Russia,
wgk‡ii g‡Zv D`xqgvb evRvi ev †mŠw` Avie, mshy³ Avie
Mexico or Egypt, or the Gulf Cooperation Council
AvwgivZ Ges Kz‡q‡Zi g‡Zv DcmvMixq mn‡hvwMZv KvDw݇ji (GCC) markets like Saudi Arabia, UAE and Kuwait. It
(wRwmwm) evRvi¸‡jvi †P‡q †ewk ZvwjKvfy³ †Kv¤úvwb i‡q‡Q| is at par with Brazil, another emerging market. But,
eªvwRj Ges Ab¨ D`xqgvb evRv‡ii mgvbmsL¨K †Kv¤úvwb proper monitoring and policy support are necessary
i‡q‡Q| GB wekvj evRv‡ii AviI fvj cvidig¨v‡Ýi Rb¨ for better performance of this thriving market.
Moreover, adequate number of fundamentally sound
h_vh_ ch©‡e¶Y Ges bxwZ mnvqZv cÖ‡qvRb| Z`ycwi, ch©vß
scrips, making favorable and enchanting
msL¨K †gŠjwfwË m¤úbœ †kqvi, †jb‡`‡bi AbyK~j Ges environment of trading, attracting major corporations
AvKl©Yxq cwi‡ek, eo K‡c©v‡ikb¸wj‡K evRv‡i Avm‡Z AvK…ó to come into the market, reaching to such a stage of
Kiv, †Kv¤úvwbi A_©vq‡bi †¶‡Î cyuwRevRvi e¨vs‡Ki kw³kvjx development that companies will take it as a serious
weKí wnmv‡e MÖnY Ges AvšÍRv© wZK ch©v‡qi mykvmb wbwðZ KivB alternative to bank financing and ensuring proper
Corporate governance of international standard are
n‡”Q GKwU cÖvYešÍ cyuwRevRv‡ii Rb¨ DrK…ó weKí|
the best alternatives we can do for a vibrate capital
†`‡ki mg¯Í †m±‡ii Pjgvb Dbœqb Kvh©µg †KvwfW-19 gnvgvix market.
Øviv wKQyUv †nvuPU †L‡q‡Q| Z‡e miKv‡ii `¶Zv GB cwiw¯’wZ The ongoing development activities in all the sectors
†_‡K DËi‡Yi GKwU my¯úó c_ †`wL‡q‡Q| cyuwRevRvi mn of the country were hit by the Covid-19 pandemic but

60 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wewfbœ Lv‡Zi Rb¨ mgqg‡Zv cÖ‡Yv`bvi c`‡¶c j¶¨Yxq| the efficiency of Government shows a clear route of
Avgv‡`i Rb¨ Zv BwZevPK| 2020 mv‡ji 10 †m‡Þ¤^i GGdwm exit. The timely step of incentives for the various
sectors including capital market is noteworthy. On
Gwkqv d«w›Uqvi dv‡Ûi wi‡cvU© cÖKv‡ki Lei cvIqv hvq| ¯^í
September 10, 2020 we got news on the report of
my‡`i nvi †kqvievRv‡ii Rb¨ Avkxe©v‡` cwiYZ n‡q‡Q| †h‡nZy AFC Asia Frontier Fund. Low-interest rate has turned
e¨w³MZ I cÖvwZôvwbK wewb‡qvMKvixiv DfqB †kqvievRvi‡K to be a blessing for the stock market as both
wewb‡qv‡Mi weKí wn‡m‡e †e‡Q wb‡q‡Q| 8 AvM÷ GGdwm individual and institutional investors are choosing to
park their money in stocks. A research conducted by
Gwkqv d«w›Uqvi dv‡Ûi Øviv cwiPvwjZ GKwU M‡elYvq †`Lv
AFC Asia Frontier Fund released on August 8 showed
†M‡Q †h ¯^í my‡`i nvi, idZvwb I †iwgU¨vÝ e„w× Ges A_©bxwZi
that lower interest rate, increasing exports and
Kg©KvÐ cybivq Pvjyi d‡j XvKv ÷K G·‡P‡Ä (wWGmB) remittances and the reopening of the economy have
BwZevPK cwieZ©b n‡q‡Q| led to this rally in the Dhaka Stock Exchange.

Avgiv GLv‡b †miv Kg©x`j MV‡b Ges G·‡P‡Äi `xN©‡gqv`x We are committed to form the best team in the industry
and ensure long-term sustainable profitable
†UKmB I jvfRbK cvidig¨vÝ wbwðZ Ki‡Z cÖwZkÖæwZe×|
performance of the exchange. We are determined to
Avgiv cyuwRevRvi‡K MwZkxj Ki‡Z Avgv‡`i cY¨ I cwi‡levi further develop and improve the quality of our products
gv‡bi AviI weKvk I DbœwZ Ki‡Z Ges Avgv‡`i †KŠkjMZ and services to develop the capital market and retain
j‡¶¨ †cŠuQv‡bvi Rb¨ Avgv‡`i wewb‡qvMKvix‡`i Av¯’v a‡i our investors trust and confidence to reach our strategic
goal. We are confident to face the future challenges
ivL‡Z e×cwiKi| Avgiv AZ¨šÍ wbôv I AvšÍwiKZvi mv‡_
with utmost diligence, dedication and sincerity.
fwel¨‡Zi P¨v‡jĸwji gy‡LvgywL n‡Z AvZ¥wek¦vmx|
With the active support and guidance of BSEC, Board
Avcbviv †R‡b Avbw›`Z n‡eb †h, evsjv‡`k wmwKDwiwUR A¨vÛ of Directors of DSE, Board committees, Strategic
G·‡PÄ Kwgkb, XvKv ÷K G·‡P‡Äi cwiPvjbv cl©`, †evW© Investors and the concerted efforts of all the
KwgwU, †KŠkjMZ wewb‡qvMKvix Ges wWGmBÕi mKj Stakeholders of DSE- you will be happy to note that
the company is ready to take any challenge and
†÷K‡nvìv‡ii mw¤§wjZ cÖ‡Póv, mwµq mg_©b I w`K&wb‡`©kbvq
difficulty that it will encounter in the course of
e¨vemvi †¶‡Î Avgiv †h †KvbI P¨v‡jÄ MÖnY Ki‡Z cÖ¯ÍyZ| business. We would like to thank the DSE Board of
G·‡P‡Äi fveg~wZ© mgybœZ ivL‡Z Awew”Qbœ mg_©b, w`Kwb‡`©kbv Directors for their incisive support, unwavering
Ges civg‡k©i Rb¨ Avgiv wWGmB cwiPvjbv cl©`‡K ab¨ev` guidance and prudent suggestions to build up the
image of the exchange.
Rvbv‡Z PvB|
Finally, on behalf of DSE, I would like to thank
Ae‡k‡l, evsjv‡`‡ki cywu RevRv‡ii †UKmB Dbœqb wbwðZ Ki‡Z honourable shareholders and all stakeholders for
Amvgvb¨ Ae`vb I µgvMZ mnvqZvi Rb¨ mgy`q †kqvi‡nvìvi their invaluable contributions and continuous support
Ges †÷K‡nvìviMY‡K wWGmBÕi c¶ †_‡K Avwg ab¨ev` in our epic journey of excellence to ensure sustainable
RvbvB| development of capital market of Bangladesh.

ab¨ev`v‡šÍ Thanking you

KvRx QvbvDj nK Kazi Sanaul Hoq

e¨e¯’vcbv cwiPvjK Managing Director

December 3, 2020
wW‡m¤^i 3, 2020

DSE ANNUAL REPORT n­2019-20

61
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

mvs¯‹…wZK ¯^vaxbZv Qvov ivR‰bwZK I A_©‰bwZK ¯^vaxbZv

A_©nxb| ZvB gvwU I gvbyl‡K †K›`ª K‡i MYgvby‡li myL
kvwšÍ I ¯^cœ Ges Avkv-AvKv•Lv‡K Aej¤^b K‡i M‡o DV‡e
evsjvi wbR¯^ mvwnZ¨-ms¯‹…wZ
 cÖvwZôvwbK mykvm‡bi weeiYx
CORPORATE GOVERNANCE STATEMENT
 f~wgKv Introductory

wWGmB wek¦vm K‡i †h, GKwU kw³kvjx cÖvwZôvwbK mykvmb DSE believes that a strong corporate governance
framework and culture translates to a strong
KvVv‡gv Ges ms¯‹„wZ, GKwU †Kv¤úvwb‡K Zvi
company that delivers for its shareholders. DSE's
†kqvi‡nvìvi‡`i Rb¨ kw³kvjx cÖwZôv‡b cwiYZ K‡i| corporate governance is broadly covered by
wWGmBÕi cÖvwZôvwbK mykvm‡bi Ab¨Zg jÿ¨ n‡jv wbR¯^ protecting the interest of investors through complying
wewa-weavb, weGmBwmÕi wewa, wb‡`©kbv I †`‡ki Ab¨vb¨ and following its own regulations, BSEC rules,

AvBb cwicvj‡bi gva¨‡g wewb‡qvMKvix‡`i ¯^v_© iÿv Kiv| directives, guidelines and law of the country. With
transparent operations and substantial involvement
¯^”Q cwiPvjbv Ges AskxR‡bi h‡_ó cwigvY AskMÖn‡Yi
of the stakeholders, DSE has a focus on corporate
gva¨‡g wWGmB cÖvwZôvwbK mykvmb‡K ¯^xK…wZ cÖ`vb-Gi gva¨g governance by further acceptance that governance
K‡i Av‡iv †Rvi w`‡Z Pvq †h, †kqvi‡nvìvi‡`i wewb‡qv‡Mi mechanisms are established not only to ensure a
†¶‡Î m‡šÍvlRbK wiUvb© wbwðZ Ki‡ZB ïay bq; eis e„nËi satisfactory return on investment for shareholders but
also to contribute positively to the economy at large.
A_©bxwZ‡Z BwZevPK Ae`v‡bi Rb¨ cÖwZwôZ|

DSE Corporate Governance Outline

wWGmBÕi cªvwZôvwbK mykvm‡bi iƒc‡iLv
At present the number of Directors of Dhaka Stock
XvKv ÷K G·‡P‡Äi eZ©gvb cwiPvj‡Ki msL¨v 13 (†Zi) Exchange Limited is 13 (thirteen). The composition of
Rb| wWGmBÕi cwiPvjbv cl©‡`i MVb XvKv ÷K G·‡PÄ the Board of Directors is governed by the Dhaka
Stock Exchange (Board & Administration) Regulations,
(†evW© I cÖkvmb) wewagvjv, 2013 Ges wWGmBÕi AvwU©‡Kj
2013 and Articles of Association of DSE. The Board
Ad G‡mvwm‡qk‡bi Øviv cwiPvwjZ nq| 7 Rb ¯^Zš¿ comprises of 7 Independent Directors, 5 Shareholder
cwiPvjK, 5 Rb †kqvi‡nvìvi cwiPvjK (†KŠkjMZ Directors (One Director from Strategic Investor) and
Managing Director as Ex-officio member of the
wewb‡qvMKvix †_‡K 1 Rb cwiPvjK) Ges G·-AwdwmI
Board. The Chairman of the Board is elected from
m`m¨ wn‡m‡e e¨e¯’vcbv cwiPvjK‡K wb‡q †evW© MwVZ nq| the Independent Directors. All the Board Committees
¯^Zš¿ cwiPvjK‡`i g‡a¨ †_‡K †ev‡W©i †Pqvig¨vb wbe©vwPZ are comprised of majority of Independent Directors
including the Chairman. Prior to demutualization,
nb| †Pqvig¨vbmn msL¨vMwiô ¯^Zš¿ cwiPvj‡Ki mgš^‡q
DSE had 25-member Board of which 12 were
mg¯Í †evW© KwgwU MwVZ nq| wWwgDPz¨qvjvB‡Rk‡bi c~‡e© Shareholder Directors, 12 Independent Directors and
wWGmB‡Z 25 m`‡m¨i cwiPvjbv cl©` wQj, hvi g‡a¨ 12 Rb CEO was as Ex Officio Director.

†kqvi‡nvìvi cwiPvjK, 12 Rb ¯^Zš¿ cwiPvjK Ges wmBI According to the Corporate Governance Code of
BSEC gazetted on June 10, 2018, listed company
G·-AwdwmI cwiPvjK wn‡m‡e wQ‡jb|
shall have at least one-fifth (1/5) Independent
10 Ryb 2018 Zvwi‡L cÖKvwkZ †M‡R‡U weGmBwmi K‡c©v‡iU Directors of the total number of Directors. In DSE the
majority of the members of the Board of Directors of
Mfb©¨vÝ †KvW Abyhvqx ZvwjKvfz³ †gvU cwiPvj‡Ki Kgc‡ÿ
the Exchange, including the Chairman are
GK cÂgvsk (1/5) ¯^Zš¿ cwiPvjK wn‡m‡e _vK‡Z n‡e| Independent Directors. With regards to number of
wWGmB‡Z †Pqvig¨vbmn G·‡P‡Äi cwiPvjbv cl©‡`i Independent Directors, DSE follows wider provision
than that of Corporate Governance Code.
†ewkifvM m`m¨B ¯^Zš¿ cwiPvjK| ¯^Zš¿ cwiPvj‡Ki msL¨vi
The Stock Exchanges were demutualized with a view
†ÿ‡Î wWGmB K‡c©v‡iU Mfb©¨vÝ †Kv‡Wi †P‡q we¯Í…Z weavb
to developing and regulating the capital market,
AbymiY K‡ib| establishing the effective corporate governance in the

64 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
cyuwRevRv‡ii Dbœqb I wbqš¿Y, G·‡Pĸ‡jv‡Z Kvh©Ki exchanges, and protecting interest of the investors of
the capital market. The transformation of exchanges
K‡c©v‡iU cÖkvmb cÖwZôv Ges cyuwRevRv‡ii wewb‡qvMKvix‡`i
from mutual to demutualized structure involves two
¯^v_© iÿvi j‡ÿ¨ ÷K G·‡Pĸ‡jv wWwgDPz¨qvjvBRW Kiv key features: (i) a change in the ownership structure,
n‡qwQj| G·‡P‡Äi wgDPz¨qvj †_‡K wWwgDPz¨qvjvBRW and (ii) a change in legal as well as organizational
KvVv‡gv‡Z iƒcvšÍ‡ii †ÿ‡Î `ywU cÖavb ˆewkó¨ nj- 1) form. Both need to be accompanied by adequate
safeguards to ensure appropriate governance.
gvwjKvbv KvVv‡gvi cwieZ©b Ges 2) AvBbx I mvsMVwbK
The Demutualization Scheme of DSE empowered the
AvKv‡i cwieZ©b| Df‡qi h_vh_ mykvmb e¨e¯’v wbwðZKi‡Y
Independent Directors to play important role in the
ch©vß myiÿvi cÖ‡qvRb| wWGmBÕi wWwgDPz¨qvjvB‡Rkb
operation of the Exchange. In addition to their
c×wZwU ¯^Zš¿ cwiPvjK‡`i G·‡PÄ cwiPvjbvq ¸iæZ¡c~Y© fiduciary duties, the Independent Directors are
f~wgKv cvj‡b mÿg K‡i †Zv‡j| ¯^Zš¿ cwiPvjKiv Zv‡`i responsible for providing managerial oversight, work
Ici b¨¯Í `vwqZ¡ QvovI cwiPvjbv msµvšÍ Z`viwK, msL¨vjNy for the protection of minority shareholders’ rights,
improving corporate credibility, governance
†kqvi‡nvìvi‡`i AwaKvi iÿv, K‡c©v‡iU wek¦vm‡hvM¨Zv I
standards and exercise independent judgement.
cÖkvm‡bi gv‡bvbœqb Ges ¯^vaxb wePviKvh© cÖ‡qv‡Mi Rb¨I
Independent Directors shall play the most important
`vqe×| †evW© KwgwU¸‡jv‡Z ¯^Zš¿ cwiPvj‡Ki wbi‡cÿZv role in the Board Committees by ensuring neutrality,
wbwðZKiY, K‡c©v‡iU cÖkvm‡bi DbœwZKiY Ges Zv‡`i improving corporate governance and
wewfbœ AwfÁZv I `ÿZvi mgš^‡q enhancing business efficiency through
their diverse experience and
e¨emvwqK Kvh©µg e„w× Ki‡Z Dhaka
Stock Exchange expertise. Majority presence
¸iæZ¡c~Y© f~wgKv cvjb K‡ib| (Board and
Administration) Articles of
Local and
Global Regulations, Association from the Independent
2013
hLbB †Kvb gZwe‡iva †`Lv best practices of Dhaka
Stock Directors shall ensure
Exchange
Ltd.
†`q ZLb ¯^Zš¿ cwiPvjK‡`i Statement fairness and
of Delegated
Authorities of
me©vwaK Dcw¯’wZ mZZv I the Company transparency whenever
Corporate BSEC
Notification any conflict arises.
¯^”QZv wbwðZ Ki‡e| Governance on Corporate
Governance
Statement
of Risk Being an Exchange and
G·‡PÄ Ges ¯^-wbqš¿K ms¯’v Management
and Internal
Control of
Self-Regulatory
nIqvq wWGmBÕi K‡c©v‡iU the Company The Companies
Organization (SRO) DSE’s
Act, 1994
Standards of
Mfb©¨vÝ Lye K‡Vvi| wWGmBÕi Business Conduct, Other
relevant laws Corporate Governance is
Policies and
Guidelines of of the land
K‡c©v‡iU Mfb©¨vÝ KvVv‡gvi g‡a¨ the Company very much stringent. DSE’s

i‡q‡Q: Corporate Governance framework

includes:

cl©‡`i f~wgKv Ges `vwqZ¡

Roles and Responsibilities of the Board
cl©‡`i cÖv_wgK KvR n‡jv wewb‡qvMKvix m¤úª`v‡qi e„nËi The Board’s primary role is to protect the greater
¯^v_© iÿv Ges `xN©‡gqvw` †kqvi‡nvìvi‡`i ¯^v_© myiÿv Ges interest of the investor community and to ensure the
protection and enhancement of long term
Dbœqb wbwðZ Kiv, hv‡Z wewb‡qvMKvix‡`i ¯^v_© Ges Kg©Pvix,
shareholder value taking into account the interests of
MÖvnK, mieivnKvix I e„nËi m¤úª`vqmn Ab¨vb¨ the investors and other stakeholders including
†÷K‡nvìvi‡`i ¯^v_© we‡ePbv Kiv nq| employees, customers, suppliers and the wider

DSE ANNUAL REPORT n­2019-20

65
 GKwU ms¯’v wn‡m‡e G·‡P‡Äi cwiPvjbv cl©` Gi mvgwMÖK community. The Board is accountable to shareholders
for the overall success of the Exchange as a company.
mvd‡j¨i Rb¨ †kqvi‡nvìvi‡`i wbKU `vqe×| cwiPvjbv
It directs and monitors the business and other affairs
cl©` †kqvi‡nvìvi‡`i c‡ÿ †Kv¤úvwb cwiPvjbv K‡i Ges of the company on behalf of shareholders and is
†Kv¤úvwbi mvgwMÖK cÖvwZôvwbK mykvm‡bi Rb¨ `vqx _v‡Kb| responsible for the company’s overall corporate
governance. It provides the policy guideline and
Zviv †Kv¤úvwbi Af¨šÍixY wbqš¿Y KvVv‡gv Ges cÖ‡qvRbxq directions necessary for the company to meet its
e¨emvwqK D‡Ïk¨ c~i‡Yi Rb¨ wewfbœ bxwZ m¤úwK©Z business objectives within the framework of its
internal controls. The composition of the Board
MvBWjvBb I w`K&-wb‡`©kbv cÖ`vb K‡ib| XvKv ÷K G·‡PÄ
complies with the Dhaka Stock Exchange (Board and
(†evW© A¨vÛ A¨vWwgwb‡÷ªkb) cÖweavb, 2013 Ges wWGmB Administration) Regulations, 2013 and the Articles of
msN ¯§viK Abyhvqx G·‡P‡Äi cwiPvjbv cl©` MwVZ nq| Association of DSE. The Board comprises an
admixture of independent and elected shareholder
wWGmB cl©‡` wewfbœ †ckvi cUf~wg †_‡K `ÿZv I AwfÁZvi
Directors from diverse professional backgrounds with
wfwˇZ ¯^Zš¿ cwiPvjK I wbe©vwPZ †kqvi‡nvìvi wealth of experience, skills and expertise.
cwiPvjK‡`i GKwU ¯^Zš¿ mgš^q i‡q‡Q| Being guided by the Dhaka Stock Exchange (Board
and Administration) Regulations, 2013,
XvKv ÷K G·‡PÄ (†evW© GÛ GWwgwb‡÷ªkb) cÖweavb, Demutualization Scheme, the Articles of Association
2013, wWwgDPz¨qvjvB‡Rkb w¯‹g, wWGmBÕi msN¯§viK, of DSE, the Exchanges Demutualization Act, 2013,
G·‡P‡Äm wWwgDPz¨qvjvB‡Rkb AvBb 2013, †Kv¤úvwb AvBb the Companies Act, 1994 and other Acts, rules,
regulations and guidelines of the Government, BSEC
1994, Ab¨vb¨ AvBb, miKvwi wewaweavb I wb‡`©wkKv Ges
and DSE. The Board’s principal responsibilities are as
weGmBwm wb‡`©kvewj Abyhvqx cwiPvjbv cl©‡`i cÖavb follows:
`vwqZ¡mg~n wb¤œiƒc: • The Directors ensure that the Exchange abides by
• cwiPvjKe„›` G·‡PÄ KZ„©K wmwKDwiwUR AvBb, wewa, all the provisions of securities laws, rules and
regulations framed thereunder and circulars,
cÖweavb Ges weGmBwm KZ„©K Rvwi Kiv wb‡`©kbvewj
directions issued by the BSEC and other
†hgbwU cÖ‡hvR¨ Zv †g‡b P‡j AvBwb KvVv‡gv cwicvj‡bi authorities as the case may be.
welqwU wbwðZ K‡ib| • The Directors ensure compliance at all levels so
• cwiPvjKe„›` me©¯Í‡i AvBwb cwicvjb wbwðZ K‡i, hv‡Z that the regulatory system does not suffer from
any breaches.
wbqš¿Y-c×wZ †Kv‡bv ai‡bi ÿwZi m¤§yLxb bv nq|
• The Directors ensure that the Exchange takes
• cwiPvjKe„›` ms‡kvabg~jK c`‡ÿ‡ci Rb¨ weGmBwm commensurate steps to honour the time limit
Øviv wba©vwiZ mgqmxgv gvbvi e¨vcv‡i cÖ‡qvRbxq c`‡ÿc prescribed by BSEC for corrective action.
MÖn‡Yi welqwU wbwðZ K‡ib| • The Directors do not support any decision in the
meeting of the Board which may adversely affect
• cwiPvjKe„›` cl©‡`i mfvq Ggb †Kv‡bv wm×všÍ mg_©b
the interest of investors and the Managing
K‡ib bv, hv wewb‡qvMKvix‡`i ¯^v‡_©i cwicš’x Ges GB Director shall report forthwith any such decision
ai‡bi †Kv‡bv wm×všÍ †bqv n‡j e¨e¯’vcbv cwiPvjK to BSEC.
AbwZwej‡¤^ †m wel‡q weGmBwm‡Z cÖwZ‡e`b †ck • The Directors ensure performing activities of the
Ki‡eb| Exchange to uphold the interest of public, i.e. the
investors; and give priority to the interest of public,
• cwiPvjKe„›` RbM‡Yi (wewb‡qvMKvixi) ¯^v_© iÿvi wel‡q i.e. the investors; even it appears to be conflicting
m‡Pó _v‡Kb Ges GgbwK GwU G·‡P‡Äi ev Gi with the interest of the Exchange or its
†kqvi‡nvìvi‡`i mv‡_ Ø›Øc~Y© n‡jI wewb‡qvMKvixi shareholders.
¯^v_©‡K AMÖvwaKvi †`qv nq| • The Directors place priority for redressing investor

66 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

• cwiPvjKe„›` wewb‡qvMKvix‡`i Awf‡hvM wb®úwËi welqwU grievances and encourage fair practices in
dealings and trading in securities and matters
AMÖvwaKvi †`b Ges †jb‡`‡bi b¨vh¨ Abykxj‡b DrmvwnZ
ancillary thereto.
K‡i, wmwKDwiwUR †UªwWs Gi Avbylw½K wel‡qi cÖwZ
• The Directors carry out their fiduciary duties with
we‡kl bRi iv‡L| a sense of objective judgement and independence
in the best interests of the Exchange and investors.
• cwiPvjKe„›` G·‡PÄ Ges wewb‡qvMKvix‡`i e„nËi ¯^v‡_©
wbi‡cÿZv I ¯^”QZvi mv‡_ `vwqZ¡ cvjb K‡ib| • The Directors submit necessary disclosures/
statement of holdings/dealings in securities as
• cwiPvjKe„›` wewa, cÖweavb Ges Dc-AvBb Abyhvqx wewfbœ required by the Commission and the Exchange
wmwKDwiwUR I Zv‡`i †nvwìs I †jb‡`‡bi Z_¨ Kwgkb from time to time as per their rules, regulations
I G·‡P‡Ä Rgv †`b| and bye-laws.
• The Directors unless otherwise required by law,
• cwiPvjKe„›` Z‡_¨i †MvcbxqZv eRvq iv‡L Ges Zv‡`i
maintain confidentiality and do not
`vwqZ¡ cvjbKv‡j cªvß †Kv‡bv Z_¨ AvBb Øviv wb‡`©wkZ divulge/disclose any information obtained in
bv n‡j cÖKvk K‡i bv| discharging their duties.

• cwiPvjKe„›` †ev‡W©i m`m¨ wn‡m‡e †Kv‡bv ÿgZv e¨envi • The Directors do not use any confidential
information for his personal gain, directly or
K‡i Zv‡`i e¨w³MZ jv‡fi Rb¨ cÖZ¨ÿ ev c‡ivÿfv‡e
indirectly, received or obtained by him in his
†Kv‡bv †Mvcb Z_¨ cÖKvk K‡i bv| capacity as a member of the Board.
• cwiPvjKMY Zv‡`i ¯^vaxbZv • The Directors perform
their duties in an independent
Ges D‡Ïk¨g~jKfv‡e †Kv‡bv
Board Independence (as on record date) and objective manner and
ÿwZ ev `ye©jZv cÖ`k©bKvix avoid activities that may impair,
Independent 7
wµqvKjvc Gwo‡q †h‡Z or may appear to impair, their
Shareholder 5
independence or objectivity or
¯^vaxbfv‡e e¯‘wbôZvi mv‡_ MD 1
official responsibilities.
†ckvMZ `vwqZ¡ cvjb K‡i|
• The Directors put in place
• cwiPvjKMY cl©‡`i wbR¯^ for an annual evaluation of the
Board Gender Diversity (as on record date)
Board’s own performance.
Kg©ÿgZv evwl©K g~j¨vqb K‡i|
Male 12 • The Directors do not, in
• cwiPvjKMY G·‡P‡Äi Female 1 any way, interfere in the
e¨e¯’vcbv Kvh©µ‡g activities of the management of
†Kv‡bvfv‡eB n¯Í‡ÿc K‡i bv| the Exchange.

Director’s Age Group (as on record date)

DSE Board of Directors
wWGmB cwiPvjbv cl©` Below 50yr 2
51yr to 60yr 8 The Board of Directors of
2013 mv‡ji wWGmB (cl©` I 3
61yr to 70yr Dhaka Stock Exchange Limited
cÖkvmb) cÖweavb Abyhvqx XvKv ÷K has been constituted as per
G·‡PÄ wjwg‡U‡Wi cwiPvjbv provisions of the Dhaka Stock
cwil` MwVZ nq| cl©` †gvU 13 Director’s Citizenship (as on record date) Exchange (Board and
m`m¨ wb‡q MwVZ †hLv‡b 7 Rb Bangladeshi 12
Administration) Regulations,
¯^Zš¿ cwiPvjK, 5 Rb †kqvi‡nvìvi Foreigner 1 2013. The Board has total 13

cwiPvjK, Zuv‡`i g‡a¨ 1 Rb members of which 7 (seven)

DSE ANNUAL REPORT n­2019-20

67
 †KŠkjMZ wewb‡qvMKvix Ges 1 Rb e¨e¯’vcbv cwiPvjK, whwb are Independent Directors, 5 (five) are Shareholder
c`vwaKvie‡j cwiPvjbv cl©‡`i m`m¨ Ges hvi Ab¨vb¨ Directors including 1 (one) from Strategic Investors
and Managing Director as the ex-officio member of
m`m¨‡`i g‡Zv †fvUvwaKvi i‡q‡Q|
the Board with voting rights.

wWGmBÕi gvbem¤ú` DSE Human Resource

gvbem¤ú` Dbœqb n‡jv GKwU cÖwZôv‡bi Af¨šÍixY Kg©KvЇK Human resource development is defined as a set of
DbœZ Kivi Rb¨ Ggb GKwU cÖwµqv, †hLv‡b Kg©Pvix‡`i internal activities by an organization to increase

`ÿZv, ÿgZv ev Ávb e„w× K‡i †Kv¤úvwbi Kj¨v‡Yi Rb¨ employee’s skills, abilities or knowledge, and direct
these skills and abilities for the company’s benefit. It
wba©viY Kiv nq| AwaKvsk e¨emvq-cÖwZôv‡bi Rb¨
is not surprising that HRD has become a real issue
gvbem¤ú‡`i Dbœqb GKwU ¸iæZ¡c~Y© welq| KviY, GwU
for numerous business organizations because it offers
cÖwZôv‡bi e¨e¯’vcbv-bxwZ cÖ¯Íve management principle which
K‡i, hv cÖwZôv‡bi gybvdv evov‡Z can bring more profit. It is
Employees’ Gender Diversity aimed to help organizations
Kvh©Kix| Gi jÿ¨ n‡jv (as on record date)
to become more competitive
†hvM¨Zvm¤úbœ Kg©x‡`i gv‡S Male 86.59 through possessing workforce
mgmvgwqK wb‡`©kbv cÖ`vb K‡i Female 13.41
qualified in different up-to-
wewfbœ cÖwZ‡hvwMZvg~jK g‡bvfve date directions.
m„wó K‡i cÖwZôvb‡K AviI DbœZ Employees’ Age Group
From the operational view
(as on record date)
n‡Z mn‡hvwMZv Kiv| point, DSE maintains the
Below 30 yr 5.59%
positive discipline-the
cwiPvjbvi `„wó‡KvY †_‡K wWGmB 30-40 yr 50.56%
41-50 yr 32.68% constructive force to secure
Kg©x‡`i mymsMwVZ Kivi Rb¨ Above 50 yr 11.17% employees’ compliance. By
BwZevPK k„•Ljv I MVbg~jK kw³ following of both building
eRvq iv‡L| gvbe-m¤úK© Ges human relation and human
resource approach DSE is building up a group of
gvbem¤ú` Dfq c×wZ AbymiY K‡i GKwU `ÿ K‡c©v‡iU `j
efficient business leaders. DSE believes that, if a
ˆZwi Ki‡Z wWGmB me©`v m‡Pó| wWGmB wek^vm K‡i †h, hw`
human resource in an organization cannot provide
†Kv‡bv ms¯’vi gvbem¤ú` wefvM cÖwZôvb‡K †KŠkjMZ myweav organization with strategic advantage the human
w`‡Z bv cv‡i, Zvn‡j Zv AKvh©Ki e‡j cÖZxqgvb nq| resource management in the organization is said to
wWGmB gvbem¤ú` wefvM Kg©x‡`i `ÿ wn‡m‡e M‡o Zzj‡Z be ineffective. Throughout the year, the Human
Resource of DSE are provided with local and
cÖvmw½K †ÿθ‡jv‡Z eQie¨vcx ¯’vbxq I AvšÍRv© wZK cÖwkÿY
international training on relevant fields to build up
cÖ`v‡bi e¨e¯’v K‡i| GwU ïay Kg©ms¯’vb e¨e¯’vcbv, wb‡qvM
efficient workforce. It is not just looking at managing
Ges cÖwkÿY cÖ`vb Ki‡Q bv, †mB mv‡_ Kg©x‡`i Kg©Rxe‡b the workforce, recruiting and training but also looking
fvimvg¨ e„w×i Rb¨ GKwU wfwË cÖ`vb K‡i, hv‡Z Zviv D”P at providing a platform for increased work-life

Drcv`bkxjZv cÖ`v‡bi gva¨‡g cÖwZôv‡bi jÿ¨ c~i‡Y balance of the employees so that they can remain
committed to the organizational goals by delivering
cÖwZkÖæwZe× _v‡K|
high productivity.

68 wWGmB evwl©K cÖwZ‡e`b n­2019-20

†ckvMZ ˆewPΨ Workforce Diversity
What Dhaka Stock Exchange Limited meant by
†ckvMZ ˆewPΨ Øviv wWGmB cvi¯úwiK MÖnY‡hvM¨Zv Ges
workforce diversity is "mutual acceptance and value
eqm, †kÖwY, RvwZ, kvixwiK Ges gvbwmK ÿgZv, eY©, wj½, placed on differences among people with respect to
AvwZ¥K Abykxjb Ges Ab¨vb¨ gvbweK ¸Yvewjm¤úbœ †jvK‡`i age, class, ethnicity, physical and mental ability, race,
sexual orientation, spiritual practice and other human
g‡a¨ cv_©K¨‡K g~j¨ †`q| wWGmB‡Z Kgx©-ˆewPΨ evRv‡ii
attributes. Here in DSE, diversity in the workforce is
Pvwn`v Ges cwiw¯’wZi mv‡_ wgj †i‡L we‡ePbv Kiv nq| considered in line with the market demand and
Kg©Pvix‡`i g‡a¨ eY©, eqm, wj½, ¯’vbxq fvlv, ivR‰bwZK situation. Diversity in the work environment promotes
acceptance, respect and teamwork despite differences
wek¦vm, AÂj, wj½ ev †hvMv‡hv‡Mi ˆkjxi cv_©K¨ _vKv m‡Ë¡I in race, age, gender, native language, political beliefs,
Kv‡Ri cwi‡e‡k ˆewPΨ MÖnY‡hvM¨Zv, m¤§vb Ges `jMZ religion, sexual orientation or communication styles
among employees. With the mission of total
Kv‡R Drmvn cÖ`vb K‡i| wj½-ˆelg¨ m¤ú~Y© wbg~‡© ji D‡Ï‡k¨i
annihilation of gender discrimination, DSE has been
mv‡_ mv‡_ wWGmB mwVK RvqMvq mwVK Rbej ¯’vcb Ki‡Q| deploying the right resource in the right place.

DSE ANNUAL REPORT n­2019-20

69
 cl©` mfv I cl©` KwgwUi mfvq Dcw¯’wZ
1 RyjvB 2019 †_‡K 30 Ryb 2020 A_©eQ‡i cwiPvjbv cl©‡`i †gvU 33wU, g‡bvbqb I cvwi‡ZvwlK KwgwUi (GbAviwm) 15wU,
wbixÿv I SuywK e¨e¯’vcbv KwgwUi (GAviGgwm) 5wU, Avwcjm&& KwgwUi (Gwm) 4wU, we‡iva wb®úwË KwgwUi (wmGgwm) 4wU mfv I
wbqš¿Y welqK KwgwUi (AviGwm) 13wU AbywôZ nq|

Dcw¯’wZ
cwiPvjKe„›`
cl©` GbAviwm GAviGgwm Gwm wmGgwm AviGwm

Rbve †gvt BDbymyi ingvb 9/9 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq
†Pqvig¨vb

Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW 29/33 14/15 5/5 cÖ‡hvR¨ bq cÖ‡hvR¨ bq 12/13
¯^Zš¿ cwiPvjK

weª‡M. †Rbv. †gvt †gv¯ÍvwdRyi ingvb 32/33 2/2 cÖ‡hvR¨ bq 2/2 4/4 13/13
GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW
¯^Zš¿ cwiPvjK

wg‡mm mvjgv bvmixb, GbwWwm 9/9 2/2 2/2 2/2 cÖ‡hvR¨ bq cÖ‡hvR¨ bq
¯^Zš¿ cwiPvjK

†gvt gybZvwKg Avkivd 9/9 cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq

¯^Zš¿ cwiPvjK

nvweeyjøvn evnvi 8/9 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq 4/4

¯^Zš¿ cwiPvjK

Aa¨vcK Wt G. †K. Gg. gvmy` 9/9 cÖ‡hvR¨ bq cÖ‡hvR¨ bq 2/2 2/2 cÖ‡hvR¨ bq
¯^Zš¿ cwiPvjK

†gvt iwKeyi ingvb 30/33 5/5 cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq cÖ‡hvR¨ bq

†kqvi‡nvìvi cwiPvjK

†gvt kvwKj wiRfx 16/16 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq

†kqvi‡nvìvi cwiPvjK

†gvnv¤§` kvnRvnvb 16/16 cÖ‡hvR¨ bq cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq cÖ‡hvR¨ bq

†kqvi‡nvìvi cwiPvjK

wgbnvR gvbœvb Bgb 25/33 cÖ‡hvR¨ bq 3/5 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq

†kqvi‡nvìvi cwiPvjK

wk‡q I‡qbnvB 26/33 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq

†kqvi‡nvìvi cwiPvjK (†KŠkjMZ wewb‡qvMKvix)
(mivmwi Dcw¯’Z 2wU Ges wfwWI-AwWI
Kbdv‡i‡Ýi gva¨‡g evKx¸‡jv)

KvRx QvbvDj nK 10/10 2/2 2/2 2/2

e¨e¯’vcbv cwiPvjK

70 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
 Dcw¯’wZ
cwiPvjKe„›`
cl©` GbAviwm GAviGgwm Gwm wmGgwm AviGwm

Aa¨vcK W. Aveyj nv‡kg

mv‡eK ‡Pqvig¨vb 22/24 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq

wePvicwZ wQwÏKzi ingvb wgqv

mv‡eK ¯^Zš¿ cwiPvjK 24/24 13/13 cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq cÖ‡hvR¨ bq

g‡bvqviv nvwKg Avjx 16/24 cÖ‡hvR¨ bq 1/3 1/2 2/2 cÖ‡hvR¨ bq

mv‡eK ¯^Zš¿ cwiPvjK

IqvwjDj Bmjvg 19/24 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq 8/9

mv‡eK ¯^Zš¿ cwiPvjK

Aa¨vcK W. Gg. Kvq‡Kvev` 20/24 11/13 3/3 2/2 1/2

mv‡eK ¯^Zš¿ cwiPvjK

kixd AvZvDi ingvb 14/17 8/10 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq

mv‡eK †kqvi‡nvìvi cwiPvjK

†gvt nvwbd f~Bqv 10/17 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq 1/2 cÖ‡hvR¨ bq

mv‡eK †kqvi‡nvìvi cwiPvjK

†K. G. Gg. gv‡R`yi ingvb 3/3 cÖ‡hvR¨ bq 1/1 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq
mv‡eK e¨e¯’vcbv cwiPvjK

Avãyj gwZb cvUIqvix, GdwmGgG 19/20 13/13 2/2 cÖ‡hvR¨ bq 2/2 cÖ‡hvR¨ bq
fvicÖvß e¨e¯’vcbv cwiPvjK

†gvt wRqvDj Kwig 1/1 cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq cÖ‡hvR¨ bq

cÖavb cÖhyw³ Kg©KZ©v

cÖavb Avw_©K Kg©KZ©v Avãyj gwZb cvUIqvix, GdwmGgG fvicÖvß e¨e¯’vcbv cwiPvjK wn‡m‡e 19wU cl©` mfv, 13wU g‡bvbqb I cvwi‡ZvwlK
KwgwU mfv, 2wU wbixÿv I SuywK e¨e¯’vcbv KwgwU mfv I 2wU we‡iva wb®úwË KwgwU mfv m¤úbœ K‡ib|

cÖavb cÖhyw³ Kg©KZ©v, fvicÖvß e¨e¯’vcbv cwiPvjK wn‡m‡e 1wU cl©` mfv m¤úbœ K‡ib|

DSE ANNUAL REPORT n­2019-20

71
 MEETING ATTENDANCE OF BOARD &
BOARD COMMITTEES
The number of Board and Board Committee meetings held during the financial year i.e. from July 1, 2019 to June
30, 2020 are as follows: Board- 33, Nomination and Remuneration Committee (NRC)-15, Audit & Risk Management
Committee (ARMC)-5, Appeals Committee (AC)-4, Conflict Mitigation Committee (CMC)-4 & Regulatory Affairs
Committee (RAC)-13.

Attendance
Directors
Board NRC ARMC AC CMC RAC

Md. Eunusur Rahman 9/9 n/a n/a n/a n/a n/a

Chairman

Professor Md. Masudur Rahman, PhD 29/33 14/15 5/5 n/a n/a 12/13
Independent Director

Brigadier General Md. Mostafizur Rahman,

hdmc, afwc, psc, PhD 32/33 2/2 n/a 2/2 4/4 13/13
Independent Director

Salma Nasreen ndc 9/9 2/2 2/2 2/2 n/a n/a

Independent Director

Md. Muntakim Ashraf 9/9 n/a 2/2 n/a 2/2 n/a

Independent Director

Habibullah Bahar 8/9 n/a n/a n/a n/a 4/4

Independent Director

Professor A. K. M. Masud, PhD 9/9 n/a n/a 2/2 2/2 n/a

Independent Director

Md. Rakibur Rahman 30/33 5/5 n/a 2/2 n/a n/a

Shareholder Director

Md. Shakil Rizvi 16/16 n/a n/a n/a 2/2 n/a

Shareholder Director

Mohammad Shahjahan 16/16 n/a n/a 2/2 n/a n/a

Shareholder Director

Minhaz Mannan Emon 25/33 n/a 3/5 n/a n/a n/a

Shareholder Director

Xie Wenhai 26/33 n/a n/a n/a n/a n/a

Shareholder Director (Strategic Investors)
(Physically attended 2 meetings and remaining
through video/audio conference)

Kazi Sanaul Hoq 10/10 2/2 2/2 n/a 2/2 n/a

Managing Director

72 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
 Attendance
Directors
Board NRC ARMC AC CMC RAC

Professor Dr. Abul Hashem 22/24 n/a n/a n/a n/a n/a
Former Chairman

Justice Siddiqur Rahman Miah 24/24 13/13 n/a 2/2 n/a n/a
Former Independent Director

Monowara Hakim Ali 16/24 n/a 1/3 1/2 2/2 n/a

Former Independent Director

Waliul Islam 19/24 n/a n/a n/a n/a 8/9

Former Independent Director

Professor Dr. M. Kaykobad 20/24 11/13 3/3 2/2 1/2 n/a

Former Independent Director

Sharif Ataur Rahman 14/17 8/10 n/a n/a n/a n/a

Former Shareholder Director

Md. Hanif Bhuiya 10/17 n/a n/a n/a 1/2 n/a

Former Shareholder Director

K.A.M. Majedur Rahman 3/3 n/a 1/1 n/a n/a n/a

Former Managing Director

Abdul Matin Patwary, FCMA 19/20 13/13 2/2 n/a 2/2 n/a
CFO & Acting Managing Director

Md. Ziaul Karim 1/1 n/a n/a n/a n/a n/a

CTO, MD (In-charge)

Abdul Matin Patwary, FCMA, CFO performed as Acting Managing Director in 19 (ninteen) Board meeting, 13
(thirteen) NRC meeting, 2 (two) ARMC meeting and 2 (two) CMC meeting.

Md. Ziaul Karim, CTO performed as Acting Managing Director in 1 (One) Board meeting.

DSE ANNUAL REPORT n­2019-20

73
 Af¨šÍixY wbqš¿Y cÖwµqv Internal Control Process
Af¨šÍixY wbqš¿Y cÖwµqv, Kvh©cwiPvjbvi Kvh©KvwiZv Ges Internal control process facilitates effectiveness and

Kg©`ÿZv mnRZi K‡i m¤ú‡`i ÿwZ n«vm K‡i Ges AvBb efficiency of operations, reduces the risk of asset loss
and helps to ensure compliance with laws and
I wewaweav‡bi cÖwZcvjb wbwðZKi‡Y mnvqZv cÖ`vb K‡i|
regulations. DSE has a robust system of internal
Kvh©cwiPvjbvi Kvh©KvwiZv Ges `ÿZv, wbfz©j cÖwZ‡e`b, control to consistently meeting organizational goals
AvBb cÖweavb Ges bxwZgvjv †g‡b P‡j avivevwnKfv‡e for operational effectiveness and efficiency, accurate
cÖvwZôvwbK jÿ¨ c~i‡Y wWGmBÕi Af¨šÍixY GKwU ewjô reporting and compliance with laws, regulations and
wbqš¿Y c×wZ i‡q‡Q| Af¨šÍixY wbqš¿Y cÖwµqv mKj Avw_©K, policies. Internal control process is comprised of the
financial, operational and other control systems
Kvh©cwiPvjbvq cÖ‡qvMK…Z Ges Ab¨vb¨ wbqš¿Y c×wZ hv
which are used across all areas within the DSE.
wWGmBÕi mg¯Í Kvh©cwiPvjb †ÿ‡Î e¨eüZ nq Zv AšÍf~©³
Internal control is a process established by the Board
K‡i| of Directors, senior management and all levels of
personnel of the organization. It is not solely a
†ev‡W©i cwiPvjK, wmwbqi g¨v‡bR‡g›U Ges mg¯Í ¯Í‡ii
procedure or policy that is performed at a certain
Kg©KZv©-Kg©Pvix Øviv Af¨šÍixY wbqš¿Y e¨e¯’v MwVZ| GUv
point of time, but rather it is continually operating at
†Kv‡bv GKK c×wZ ev bxwZgvjv bq hv GKwU wbw`©ó mg‡q all levels within the DSE. The Board of Directors and
Kvh©Ki nq eis GwU GKwU Pjgvb cÖwµqv hv wWGmBÕi cÖwZwU senior management are responsible for establishing
†ÿ‡Î Abykxjb Kiv nq| Kvh©Ki Af¨šÍixY wbqš¿Y c×wZ the appropriate culture to facilitate an effective
internal control process and for monitoring its
ch©‡eÿ‡Yi Rb¨ h_vh_ ms¯‹…wZ cÖwZwôZ Kiv †evW© cwiPvjK
effectiveness on an ongoing basis; however, each
Ges wmwbqi g¨v‡bR‡g‡›Ui `vwqZ¡; Z_vwc cªwZôv‡bi cÖ‡Z¨K
individual within an organization must participate in
e¨w³ we‡k‡li G c×wZ‡Z Aek¨B AskMÖnY Ki‡Z n‡e| the process.

wbqš¿Yg~jK Kvh©µg¸‡jvi mvaviYZ mg¯Í cÖavb †ÿÎmg~‡n Control activities normally cover all key areas, such
as organizational structures, committee compositions
†hgb - cÖvwZôvwbK KvVv‡gv, KwgwU MVb Ges `vwqZ¡ wbav©iY,
and functions, officer’s approval power, access
Kg©KZv©M‡Yi Aby‡gv`‡bi ÿgZv, cÖ‡ekvwaKvi wbqš¿Y
controls (physical and electronic), audit programs,
(kvixwiK Ges B‡j±ªwbK), wbixÿY c×wZ Ges cÖwZKvig~jK monitoring procedures, remedial actions and
Kvh©vejx AšÍfz©³ K‡i| G mKj wbqš¿Y e¨e¯’v wWGmB‡K reporting mechanisms. These control measures help
m¤¢ve¨ SzuwKc~Y© †ÿÎmg~n e„n`vKv‡i cÖKvwkZ nIqvi c~‡e©B DSE to identify potential risk issues before exposing
wide open to it.
mbv³ Ki‡Z mnvqZv K‡i|
To ensure sound control environment, DSE has
Av`k© wbqwš¿Z cwi‡ek wbwðZ Ki‡Z wWGmBi Af¨šÍixY internal policies, guidelines, procedures and codes.
bxwZ, wb‡`©wkKv c×wZ Ges †KvW i‡q‡Q| wWGmBÕi K‡qKwU Some of the key policies and Guidelines are DSE
g~j bxwZ Ges wb‡`©wkKv n‡jv- wWGmB Kg©Pvix cwi‡lev Employees Service Rules, Procurement Policies and
Guidelines, General Financial Guidelines and
wewagvjv, µqbxwZ Ges wb‡`©wkKv mvaviY Avw_©K wb‡`©wkKv
Information Security Policy of DSE etc.
Ges Z_¨ myiÿv bxwZ BZ¨vw`|
The key functionalities that have been established by
Af¨šÍixY wbqš¿Y e¨e¯’vi ch©vßZv Ges ALÐZv ch©v‡jvPbvi DSE in reviewing adequacy and integrity of the
Rb¨ wWGmB Øviv cÖwZwôZ g~j Kvh©vejx wb‡¤œ ewY©Z n‡jv- process of internal control are as follows:

74 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

• wWGmBi Kvh©µg K‡cv©‡iU wgkb, wfkb • Different committees have been
Employment formed consisting of relative
Ges †KŠk‡ji mv‡_ mvgÄm¨ †i‡L Policies & DSE stakeholders with expert
cwiPvjb wb‡`©kbvq †evW©‡K Principles Employee
Service Rules knowledge on the subject
mnvqZvi Rb¨ cÖvmw½K wel‡q Agreement
matter to assist the Board in

we‡klÁ †÷K‡nvìvi‡`i Policy guiding the DSE’s operation

Procurement in line with corporate vision,
mgš^‡q wewfbœ KwgwU MVb Kiv Policy &
Guidelines mission, and strategies.
n‡q‡Q| •The Board has delegated
Records
Management the responsibility of overall
• Af¨šÍixY wbqš¿Y e¨e¯’vi mvwe©K Policy Financial
Policy & supervision of internal control
Z`viwKi `vwqZ¡ †ev‡W©i wbixÿv I ICT Guideline
Security system to Audit & Risk
SzuwK e¨e¯’vcbv KwgwUi Kv‡Q cÖ`vb Policy Management Committee of the
Board. The Committee reviews the
K‡i| G KwgwU Af¨šÍixY wbixÿv, evwn¨K
findings identified by the Internal Audit, External
wbixÿK Ges e¨e¯’vcbv Øviv wPwýZ Z`šÍ¸‡jv ch©‡eÿY Auditors and Management, and evaluates the
ch©v‡jvPbv K‡i Ges SzuwK e¨e¯’vcbvi Af¨šÍixY wbqš¿Y adequacy and effectiveness of the risk
c×wZi ch©vßZv Ges Kvh©KvwiZv g~j¨vqb K‡i| management and internal control process.
• The Board of Directors holds meetings at suitable
• cwiPvjbv cl©` Af¨šÍixY wbqš¿Y e¨e¯’vi Kvh©KvwiZv intervals with senior management, internal
g~j¨vq‡bi Rb¨ wmwbqi g¨v‡bR‡g›U, Af¨šÍixY wbixÿK, auditors, external auditors and the Audit
Committee for evaluating the effectiveness of
ewnivMZ wbixÿK Ges wbixÿv KwgwUi mv‡_ h_vh_
internal control process.
weiwZ‡Z ˆeVK K‡i|
• The Internal Audit Department has direct access
• g¨v‡bR‡g‡›Ui †Kvb ai‡bi n¯Í‡ÿc QvovB Af¨šÍixY to the Audit Committee as and when required to
ensure submission of internal audit findings to the
wbixÿv wefvM, wbixÿv ch©‡eÿYmg~n hLbB cÖ‡qvRb g‡b
Audit Committee without management
K‡i wbixÿv KwgwU‡Z Rgv w`‡Z cv‡i| intervention.

DSE ANNUAL REPORT n­2019-20

75
 AvaywbKvqb I gvb ms‡hvRb Modernization and value addition

mv¤cÖwZK eQi¸wj‡Z mviv wek¦ Ry‡o ÷K G·‡Pĸ‡jv †ek In recent years Stock Exchanges all over the world have
K‡qKwU P¨v‡j‡Äi gy‡LvgywL n‡q‡Q| wek¦R‡y o ÷K G·‡Pĸ‡jv faced a number of challenges. Globalization and the
decline in economic and financial barriers at the
†h K‡qKwU gyL¨ welq‡qi gy‡LvgywL n‡q‡Q Zv‡`i g‡a¨ Ab¨Zg
regional and international levels, the continuous
n‡”Q wek¦vqb, AvÂwjK I AvšÍRv© wZK ¯Í‡i A_©‰bwZK wbgœgwy LZv emergence of innovative technology, new regulatory
I Avw_©K evav, D™¢vebx cÖhyw³i Awew”Qbœ DÌvb, wbqš¿b †¶‡Î reforms and the evolution of investment decisions are
bZyb ms¯‹vi Ges wewb‡qv‡Mi wm×v‡šÍi weeZ©b| evsjv‡`‡ki among some of the key issues that exchanges have
cÖavb ÷K G·‡PÄ, XvKv ÷K G·‡PÄ wjwg‡UW GB weeZ©‡bi faced around the world. The premier bourse of
Bangladesh, Dhaka Stock Exchange Limited is very
cÖwZ‡hvwMZvq wb‡R‡K fvjfv‡e Lvc LvB‡q wb‡q‡Q|
much adaptive in this evolutionary race.
cÖhyw³MZ weeZ©b, GB A‡ji Ab¨vb¨ G·‡P‡Äi mv‡_
The technological evolution has enhanced the ability of
cÖwZ‡hvwMZvi †¶‡Î XvKv ÷K G·‡P‡Äi m¶gZv e…w× K‡i‡Q|
the exchange to compete with the other exchanges of
bZyb Avw_©K cwi‡e‡k XvKv ÷K G·‡PÄ (wWGmB) Zvi this region. In response to the new financial
†KŠkj¸wj h‡_ó cwigv‡Y cwieZ©b Kivi wm×všÍ wb‡q‡Q| environment, Dhaka Stock Exchanges (DSE) has
wWGmB 2013 mv‡j wWwgDPyqvjvBRW n‡q‡Q, Pxbv decided to modify its strategies considerably. The DSE
Kb‡mvwU©qvg‡K Zvi †KŠkjMZ Askx`vi wnmv‡e wb‡q‡Q Ges has been demutualized in 2013, took the Chinese
consortium as its strategic partner and waiting for going
cÖv_wgK MY-cÖ¯vÍ ‡ei gva¨‡g †kqvi Qvovi A‡c¶vq i‡q‡Q| GwU
public. It has adopted a nonstop highly fault-tolerant
GKwU wbiwew”Qbœ, ÎæwUgy³ w¯Œb wfwËK ¯^qswµq †U«wWs wm‡÷g screen based automated trading system. In ensuring
MÖnY K‡i‡Q| evRv‡ii myi¶v I Bw›UwMÖwU wbwðZ Kivi Rb¨ safety and integrity of the market, a highly vigilant
wWGmB‡Z GKwU AwZ kw³kvjx bRi`vwi e¨e¯’v KvR Ki‡Q| surveillance system has been working here at DSE.

AÜKv‡ii wVK wcQ‡bB Av‡jv _v‡K| cÖwZwU †bwZevPK wel‡qi There is light just behind the darkness. Similarly positive
g‡a¨ GKwU BwZevPK wRwbm Av‡Q| †KvwfW-19 gnvgvix, trends are hidden inside every negative trend. The
Covid-19 pandemic opened a new door in case of the
G·‡P‡Äi wWwRUvB‡Rk‡bi cÖ‡qvRbxqZvi †¶‡Î GK bZyb Øvi
necessity of digitization of the bourse. It is imperative to
D‡b¥vPb K‡i‡Q| G·‡P‡Äi weKv‡ki Rb¨ `ªæZ, myiw¶Z Ges
have effective, prompt and well-protected
Kvh©Ki †hvMv‡hvM Riæwi| GB cwiewZ©Z cwi‡cÖw¶‡Z mKj mfv communications to develop the Exchange. All meetings
wWwRUvj cø¨vUd‡g© cwiPvwjZ n‡”Q| G·‡PÄ Ges cyuwRevRv‡ii are being taking place on digital platform under this
Ab¨vb¨ †÷K‡nvìvi †hgb wbqš¿K, ZvwjKvfy³ †Kv¤úvwb, changed perspective. Communications are being
†U«K‡nvìvi †Kv¤úvwb Ges Ab¨vb¨ †÷K‡nvìvi‡`i g‡a¨ established among all stakeholders like regulator and
listed companies. DSE has digitized distribution method
wWwRUvj gva¨‡g †hvMv‡hvM Kiv n‡”Q| mykvmb myôy I mnR Kivi
of reports of listed companies to ensure good
j‡¶¨, wWGmB ZvwjKvfy³ †Kv¤úvwb¸wji cÖwZ‡e`b cÖ`v‡bi
governance in simple and proper way. DSE has decided
c×wZ wWwRUvj Ki‡Q| cÖhwy ³i AvaywbKvq‡b XvKv ÷K G·‡PÄ in line with modernization of technology to establish
wWRv÷vi wiKfvwi (wWAvi) mvBU I †WUv †m›Uvi ¯’vcb Ges Disaster Recovery Site and Data Centre. All Brokerage
mg¯Í †eªvKv‡iR †Kv¤úvwb¸‡jv‡K GwcAvB cÖ`v‡bi wm×všÍ Companies will be awarded API, as per the decision.
wb‡q‡Q| This modernization of trading activities through
cÖhwy ³MZ weeZ©‡bi gva¨‡g †jb‡`‡bi GB AvaywbKvqb XvKv ÷K technological evolution has given the exchange huge
opportunity to add value to the capital market and the
G·‡PćK cyuwRevRvi Ges †`‡ki A_©bxwZ‡Z Ae`vb ivL‡Z
economy of the country. The evolution of technology,
mvnvh¨ K‡i‡Q| cÖhyw³i weeZ©b, wbqš¿b Bmy¨‡Z wKQy ms¯‹vi,
reformation in some regulatory issues, changing financial
cwiewZ©Z Avw_©K cwi‡ek Ges wWGmB KZ©…K M…nxZ †KŠkj environment and the strategies adopted by DSE have
wewb‡qvMKvix‡`i Av¯’v evov‡Z, Kg©ms¯’vb m…wó Ki‡Z Ges allowed the exchange to enhance investors’ confidence,
wewb‡qvM‡K †Rvi`vi Kivi †¶‡Î wWGmB‡K mnvqZv K‡i‡Q| generate employment and boosting investment.

76 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wWGmBÕi †kqvi‡nvìvi‡`i †kqvi avi‡Yi wPÎ
†iKW© †WU (wW‡m¤^i 01, 2020) Abyhvqx wWGmBÕi †kqvi‡nvìvi‡`i †kqvi avi‡Yi wPÎ:
weeiY wbR wnmv‡e wbR wnmv‡e eøKW wnmv‡e eøKW wnmv‡e †gvU †kqvi
†kqv‡ii msL¨v †kqvi (%) †kqv‡ii msL¨v †kqvi (%) (%)

241 cÖvwZôvwbK †kqvi‡nvìvi 687,764,038 38.13 608,594,292 33.74 71.87

16 Rb †kqvi‡nvìvi (e¨w³) 7,772,084 0.43 0 0 0.43
†kb‡Rb ÷K G·‡PÄ 248,019,269 13.75 0 0 13.75
mvsnvB ÷K G·‡PÄ 202,924,856 11.25 0 0 11.25
†gvU 259 †kqvi‡nvìvi 1,146,480,247 63.56 608,594,292 33.74 97.3
An¯ÍvšÍwiZ †kqv‡ii msL¨v (9 †kqvi‡nvìvi) 25,974,378 1.44 22,727,583 1.26 2.7
†gvU 268 †kqvi‡nvìvi 1,172,454,625 65 631,321,875 35 100

Pattern of DSE Shareholding

The shareholding pattern of DSE shareholders in percentage form as on record date (December 01, 2020):

Particulars No. of shares % of shares No. of shares % of shares % of total

in own account in own account in blocked account in blocked account shares

241 Corporate Shareholders hold 687,764,038 38.13 608,594,292 33.74 71.87

16 Individual Shareholders hold 7,772,084 0.43 0 0 0.43

Shenzhen Stock Exchange (SZSE) 248,019,269 13.75 0 0 13.75

Shanghai Stock Exchange (SSE) 202,924,856 11.25 0 0 11.25

Total 259 Shareholders hold 1,146,480,247 63.56 608,594,292 33.74 97.3

Shares have not been credited to 9 Shareholders 25,974,378 1.44 22,727,583 1.26 2.7

Total 268 Shareholders hold 1,172,454,625 65 631,321,875 35 100

71.87%

13.75%

11.25%

2.70%

0.43%
Shenzhen Stock Exchange

Shanghai Stock Exchange

Shares have not been credited

to 9 Shareholders
241 Corporate Shareholders

16 Individual Shareholders

DSE ANNUAL REPORT n­2019-20

77
 SzuwK e¨e¯’vcbv I Risk Management and
wbimb ev cÖkgb Mitigation

wbqš¿Y I mybv‡gi SyuwK Regulatory and Reputational Risk

In providing a fair, transparent and orderly
XvKv ÷K G·‡PÄ GKwU myôy, ¯^”Q Ges myk„•Lj evRvi-
marketplace, Dhaka Stock Exchange has been
e¨e¯’v cÖ`v‡b wWGmB AvšÍwiKZvi mv‡_ KvR Ki‡Q| †Kvb working with dedication. In facing and adapting
AvBwb cwieZ©b †gvKv‡ejv Kiv I MÖnY Kivi †¶‡Î any change in regulation, DSE prioritizes the
wWGmB cyuwRevRvi I Gi wewb‡qvMKvix‡`i ¯^v‡_©i welqwU interest and betterment of capital market and its
AMÖvwaKvi †`q| wWGmB wek¦vm K‡i †h, wewb‡qvMKvix‡`i investors. DSE believes that reputation is the main
asset to enhance the confidence of the investors.
AvZ¥wek¦vm evov‡Z †Kvb cÖwZôv‡bi mybvgB Zvi cÖavb
At present DSE is well known all over the
m¤ú`| eZ©gv‡b wWGmB mviv we‡k¦ world. International exchanges are
mycwiwPZ| AvšÍR©vwZK G·‡Pĸ‡jv working closely with DSE. It is
XvKv ÷K G·‡P‡Äi mv‡_ Ex very much keen to protect its
ch face value at home and
wbweofv‡e KvR Ki‡Q| GwU
an
abroad.
ge

†`‡k-we‡`‡k wb‡Ri fveg~wZ© se

u
aring Ho

i¶v Ki‡Z Lye m‡PZb| KEY Operational Risk

RISKS In regard to face any
Cle

cwiPvjbv SyuwK uncertainties and hazards

to occur in its day-to-day
cÖwZw`‡bi e¨emvwqK Kg©Kv‡Ð
business activities, Dhaka
CDBL
†h‡Kv‡bv AwbðqZv Ges wecwˇZ Stock Exchange is well
XvKv ÷K G·‡PÄ m‡e©vZfv‡e cÖ¯‘Z| prepared. DSE is well equipped to
Avf¨šÍixY Ges evwn¨K †Kv‡bv wbqgZvwš¿K I tackle any systematic and man-made
problems from any involvement- internal and
gbyl¨m„ó mgm¨v †gvKv‡ejvq wWGmB m`v cÖ¯ÍyZ|
external.

FY I Zvij¨ SyuwK Credit & Liquidity risk

XvKv ÷K G·‡P‡Äi Zvi †Kv‡bv AMÖnY‡hvM¨ ¶wZ bv K‡i Without incurring unacceptable losses, Dhaka
bM` `vq †gUv‡bvi m¶gZv i‡q‡Q| wWGmBÕi ˆ`wbK Stock Exchange has its capacity to meet its cash
obligations. DSE has adequate liquidity to
Kvh©Kjvc ev Gi Avw_©K Ae¯’vi Dci weiƒc cÖfve bv
efficiently handle both expected and unexpected
†d‡j cÖZ¨vwkZ Ges AcÖZ¨vwkZ bM` cÖevn‡K `¶Zvi cash flows without adversely affecting either daily
mv‡_ c~iY Kivi ch©vß Zvij¨ i‡q‡Q| operations or the financial condition of it.

78 wWGmB evwl©K cÖwZ‡e`b n­2019-20

cwiPvjbvi SzuwK Operational Risk

cwiPvjb SyuwK n‡”Q AcÖZyj ev e¨_© c×wZ ev bxwZ †hgb Kg©Pvixi Operational risk is the prospect of loss resulting from
inadequate or failed procedures, systems or policies such
ÎæwU, c×wZMZ e¨_©Zv, RvwjqvwZ ev Ab¨vb¨ Acivag~jK Kvh©Kjvc
as Employee errors, Systems failures, Fraud or other
Ges e¨emvwqK cÖwµqv¸‡jv‡K e¨vnZ K‡i Ggb †KvbI NUbvi d‡j
criminal activity and any event that disrupts business
ˆZwi ¶wZi m¤¢vebv| †ewkifvM †Kv¤úvwb¸wj ¯^xKvi K‡i †h Zv‡`i processes. Most organizations accept that their people
RbMY Ges cÖwµqv¸‡jv mnRvZfv‡e fyj K‡i Ges AKvh©Ki and processes will inherently incur errors and contribute
cwiPvjbvq Ae`vb iv‡L| Acv‡ikbvj SyuwK g~j¨vq‡bi †¶‡Î, to ineffective operations. In evaluating operational risk,
G·‡cvRvi¸wj wbg©~j Ki‡Z Ges mdj cÖwZwµqv wbwðZ Ki‡Z practical remedial steps should be emphasized in order
cÖwZKvig~jK c`‡¶c¸‡jvi Ici †Rvi †`Iqv DwPZ| `~e©j to eliminate exposures and ensure successful responses.
cwiPvjb SyuwK e¨e¯’vcbvi d‡j †KvbI ms¯’vi mybvg ¶wZMÖ¯’ n‡Z Poor operational risk management can hurt an
cv‡i Ges Avw_©K ¶wZ n‡Z cv‡i| wWGmBÕi cÖavb KvwiMwi I organization's reputation and cause financial damage.
DSE’s major operational risks are involved with
†jb‡`b wb®úwËi m‡½ RwoZ| Z‡e GB cwiPvjb-SyuwK wbim‡b
technology and settlement. We have sufficient policies
Avgv‡`i ch©vß bxwZ I Avbylw½K e¨e¯’v i‡q‡Q| wWGmBÕi ïiæ
and measures to ensure mitigation of the operational
†_‡K GLb ch©šÍ †jb‡`b wb®úwË I cÖhyw³MZ e¨_©Zvi †Kv‡bv risk. So far we have no any record of settlement failure
BwZnvm †bB| and major technology failure since starting.
wb®úwËi SzuwK Settlement Risk
GLb ch©šÍ evsjv‡`‡k †jb‡`b wb®úwËi Rb¨ Avjv`v †m›U«vj As there is no operation of CCP in Bangladesh, DSE
KvD›UvicvwU© ev wmwmwc e¨e¯’v Pvjy nqwb| ZvB ÷K G·‡PÄ as an Exchange matches orders of buyers with
wn‡m‡e wWGmB †µZv-we‡µZvi µq/weµq Av‡`k wb®úwËi those of sellers and presently acting as a clearing
gva¨‡g †jb‡`b wb®úwËi KvRwU K‡i P‡j‡Q| hZw`b ch©šÍ house and as long as CCP does not start its
wmwmwc Pvjy n‡e bv ZZw`b ch©šÍ wWGmB †jb‡`b wb®úwËi operation, DSE will continue the settlement services.
KvRwU K‡i hv‡e| cÖwZwU †jb‡`‡bi †¶‡Î †m›U«vj KvD›UvicvwU© DSE eliminates counter party risk by serving as the
wn‡m‡e wWGmB †jb‡`b wb®úwË SyuwK wbimb K‡i _v‡K| central counter party in every trade.
evRvi-SzuwK Market Risk
g~jab ch©vßZv I m¤ú` e¨e¯’vcbvi †¶‡Î wWGmB wbqš¿K DSE observes strict regulatory requirements in
ms¯’vi Pvwn`v ev kZ© K‡Vvifv‡e cwicvjb K‡i _v‡K| evRvi- managing its resource and maintaining capital
SyuwK wbim‡b wWGmB me mgq GKwU kw³kvjx e¨v‡jÝ wkU I adequacy. The company maintains a strong
ch©vß Zvij¨ cwiw¯’wZ eRvq iv‡L| cÖv_wgKfv‡e, Avgv‡`i balance sheet with sufficient liquidity to cater the
m¤ú` ej‡Z †evSvq bM` A_©, hv KL‡bv SyuwKc~Y© †Kv‡bv market risk. Our assets are primarily cash resources
wmwKDwiwU‡R wewb‡qvM Kiv nq bv| G Kvi‡Y eo ai‡bi and we have no investments in risky securities.
†jb‡`b wb®úwËi e¨_©Zv Qvov wWGmB KL‡bv mivmwi evRvi Hence, DSE is not directly affected by market risk
SyuwKi Kvi‡Y ¶wZMÖ¯Í ev cÖfvweZ nq bv| except in the rare event of a settlement default.

wbqš¿Yg~jK SzuwK Regulatory Risk

wewb‡qvMKvix‡`i myweav‡_© Ges cyuwRevRvi Dbœq‡bi Rb¨, wWGmB DSE adopts any regulatory change for the benefit of the
†h †KvbI AvBbx cwieZ©b MÖnY K‡i| wWGmBÕi wbqš¿K, miKvi investors and the capital market. DSE has a very good
cooperation with its regulator, Government and other
Ges †`‡ki Ab¨vb¨ wewae× ms¯’vi mv‡_ Lye fv‡jv mn‡hvwMZvc~Y©
statutory bodies of the country. DSE has the capability to
m¤úK© i‡q‡Q| wWGmBi g‡a¨ mg¯Í SyuwK-msµvšÍ mgm¨v¸‡jv
address all risk issues and deliver end-to-end solutions.
mgvavb Kivi Ges me©‡kl mgvavb †`qvi ¶gZv i‡q‡Q|
DSE has the capabilities to provide strategic and
wewb‡qvMKvix‡`i †h‡Kv‡bv wbqg-bxwZ cwieZ©‡bi Rb¨ †KŠkjMZ
technical regulatory and compliance solutions to help

DSE ANNUAL REPORT n­2019-20

79
 Ges cÖhyw³MZ wbqš¿Y Ges mgvavb Kivi `¶Zv wWGmBÕi i‡q‡Q| investors of the change in any rules and regulations.
Z`ycwi, wWGmB G›UvicÖvBRwfwËK Kgcøv‡qÝ †cÖvMÖvg¸‡jv kw³kvjx Furthermore, DSE helps to strengthen enterprise-wide
Ki‡Z Ges Kvh©Ki cÖkvmb Ges SyuwK e¨e¯’vcbvi KvVv‡gv Kvh©Ki compliance programs and implement effective
Ki‡Z mnvqZv K‡i| governance and risk management frameworks.

mybv‡gi SzuwK Reputational Risk

eZ©gv‡b XvKv ÷K G·‡PÄ wjwg‡UW we‡k¦i GKwU mycwiwPZ At present Dhaka Stock Exchange Limited is a well
known exchange in the world. Reputational risk is a risk
G·‡PÄ| †Kv‡bv cÖwZôv‡bi mybvg ev L¨vwZ webó nIqvi d‡j †h
of loss resulting from damages to a company's
SyuwK ˆZwi nq †mwUB mybv‡gi SyuwK| wWGmB †kqv‡ii gva¨‡g
reputation. DSE as a public company limited by shares.
wefvwRZ GKwU cvewjK wjwg‡UW †Kv¤úvwb| ZvB Gi mybv‡gi Sywu Ki
Its reputational risk is closely involved with payment of
m‡½ RwoZ i‡q‡Q mgqg‡Zv cY¨ mieivnKvix‡`i A_© cwi‡kva,
vendors in time, maximizing shareholders value,
†kqviavix‡`i m‡e©v”P g~j¨, †Kv‡bv ai‡bi e¨_©Zv Qvov †jb‡`b settlement of transactions without any failure and
wb®úwË Kiv Ges wewb‡qvMKvix I evRvi-mswkøó‡`i Rb¨ GKwU providing a standard trading platform to the market
gvbm¤§Z †jb‡`b-e¨e¯’v wbwðZ Kivi g‡Zv welqmg~n| Gme †¶‡Î intermediaries and investors. DSE is well capable to
mybv‡gi SyuwK ‰Zwi n‡j Zv †gvKv‡ejvq wWGmBÕi h‡_ó cvi`wk©Zv overcome its reputational risk. To cater this risk DSE has
i‡q‡Q| Px‡bi †KŠkjMZ wewb‡qvMKvix, WweøDGdBÕi c~Y©v½ been able to obtain its strategic investors from China,
m`m¨c` I wRAviAvBÕi m‡½ m¤úvw`Z Pyw³ wWGmB‡K mybv‡gi full membership of WFE and signed agreement with GRI
SyuwK †gvKv‡ejvq mnvqZv Ki‡e| and other renowned Exchanges in the world.

cÖhyw³ SzuwK Technology Risk

cÖhyw³ SyuwK nj cÖhyw³ e¨_© nIqvi m¤¢vebv hv Avcbvi ¯^vfvweK Technology risk is any possibility of technology failures
e¨emv‡K e¨vnZ K‡i| bZyb fe‡b hvIqvi ci wWGmBÕi bZyb GKwU to disrupt your business. DSE is in the process of setting
up a new site in its new building. Once that is set up the
mvBU Pvjyi welq cÖwµqvaxb i‡q‡Q| bZyb mvBUwU Pvjy n‡j Av‡Mi
existing site will be moved to a suitable location to
mvBUwUi me Z_¨ GKwU Dchy³ mvf©v‡i ¯’vbvšÍi Kiv n‡e, hv‡Z evwn¨K
mitigate technology risk from physical disaster. DSE’s
†Kv‡bv `yN©Ubv‡ZI Gme Z_¨ bó bv nq| wWGmBÕi eZg©vb KvwiMwi
technical team is fully trained to maintain the existing
`jwU we`¨gvb e¨e¯’vwU ¯^vaxbfv‡e cwiPvjbvi †¶‡Î h‡_ó cÖwkw¶Z|
system independently.

wewb‡qvM-SzuwK Investment Risk

wewb‡qvM SyuwK ej‡Z wewb‡qvM †_‡K cÖZ¨vwkZ jv‡fi †P‡q ¶wZi Investment risk is defined as the probability or
m¤¢vebv ev AwbðqZv †K eySvq| D”P wewb‡qvM-Sywu K ˆZwi bv K‡iB uncertainty of losses rather than expected profit from
wWGmB me mgq m‡e©v”P gybvdv Kivi †Póvq _v‡K| G Kvi‡Y investment. DSE continuously searches for optimum
wWGmB Zvi wewb‡qvM‡K bvbv ˆewP‡Î¨ mvwR‡q‡Q| Gi g‡a¨ wKQy return without exposing to high-risk investment. DSE has
wewb‡qvM i‡q‡Q e¨vs‡Ki e‡Û I wKQy miKvwi e‡Û| G Qvov diversified its investment to Bank’s subordinated capital
bonds, Govt owned bonds and in contribution of 45%
cÖ¯vÍ weZ wK¬qvwis I †m‡Uj‡g›U †Kv¤úvwb‡Z Zvi 45 kZvsk g~ja‡b
paid-up capital of proposed Clearing & Settlement
wewb‡qvM Ki‡Q wWGmB| Gi d‡j wewb‡qvM-SyuwK A‡bKvs‡k K‡g
Company will be subscribed by DSE, which will reduce
hv‡e|
the risk of investment.

wWGmBÕi wi¯‹ A¨v‡cUvBU Risk Appetite for DSE

wi¯‹ Av‡cUvBU ej‡Z †evSvq GKwU ms¯’v Zv‡`i †KŠkjMZ Risk appetite can be defined as 'the amount and type of
D‡Ïk¨¸‡jv c~iY Ki‡Z †h cwigvY SyuwK MÖnY Ki‡Z B”QyK Zv‡K| risk that an organization is willing to take in order to
ms¯’v¸‡jvi wi¯‹ Av‡cUvBU Zv‡`i LvZ, ms¯‹„wZ Ges j¶¨¸‡jvi meet their strategic objectives'. Organizations will have

80 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Dci wbf©i K‡i| wewfbœ SyuwKi Rb¨ wewfbœ SyuwK cÖeYZv we`¨gvb different risk appetites depending on their sector, culture
Ges G¸‡jv ms¯’vi cÖ‡qvRbxqZv Abymv‡i mg‡qi mv‡_ mv‡_ and objectives. A range of appetites exist for different
cwiewZ©Z n‡Z cv‡i| risks and these may change over time as per the
requirements of the organization.
†h‡Kv‡bv cl©` mfvi Av‡jvP¨ m~wP‡Z SyuwK cÖeYZv Ges mnbkxjZv Risk appetite and tolerance need to be noticed high on
¸iæZ¡ cvIqv `iKvi Ges GKwU G›UvicÖvB‡R Sywu K e¨e¯’vcbv c×wZ any board's agenda and is a core consideration of an
g~j we‡ePbvi welq| Avgv‡`i wb‡`©kbvmg~n †evW©iæ‡gi weZK©‡K enterprise risk management approach. Our guidance
mg_©b Kivi Rb¨ e¨envwiK w`Kwb‡`©kbv, civgk© Ges Z_¨ mieivn provides practical direction, advice and information to
K‡i| support board room debate.
While risk appetite will always mean different things to
hw`I SyuwK cÖeYZv G‡KKR‡bi Kv‡Q G‡KK iKg, SyuwK cÖeYZvi
different people, a properly communicated, appropriate
Dchy³ wee„wZ ms¯’v¸‡jv‡K j¶¨ AR©‡b Ges †UKmB Dbœqb mg_©b risk appetite statement can actively help organizations
Ki‡Z mwµqfv‡e mnvqZv Ki‡Z cv‡i| achieve goals and support sustainability.
cwiPvjbv cl©` mvaviYZ †Kv‡bv ms¯’vi Sywu K wba©vi‡Yi Rb¨ `vqe×| The Board of Directors is normally responsible for setting
an organization’s risk appetite. But DSE Board of
Z‡e wWGmB cwiPvjbv cl©`, wbix¶v I SyuwK e¨e¯’vcbv KwgwU Ges
Directors, the Audit and Risk Management Committee
e¨e¯’vcbv KwgwU, hv Gi EaŸ©Zb Kg©KZ©v‡`i mgš^‡q MwVZ Zviv
and Management Committee of DSE comprising of high
wWGmBÕi SyuwK wba©viY K‡i Ges GwU mswkøó wefvM¸‡jv‡Z officials decide the risk and let it escalated down to the
µgn«vmgvb nv‡i w`‡q †`q| mvaviYZ wWGmB ms¯’vi Kvw•ÿZ j¶¨ concerned departments. Normally DSE prudently
AR©‡bi Rb¨ SyuwKi cÖK„wZ, e¨vwß, Zvrch© Ges P~ovšÍ cwiYvg determines the nature, extent, significance and finale
weP¶YZvi mv‡_ wba©viY K‡i| outcome of the risk for achieving the desired goal of the
organization.

msKU e¨e¯’vcbv `j (wmGgwU) Crisis Management Team (CMT)

msKU e¨e¯’vcbv `‡ji (µvBwmm g¨v‡bR‡g›U wUg-wmGgwU) KvR The role of the CMT is to identify and deal with potential
n‡jv msKUKv‡j Kg©x I e¨emv cwiPvjbvi m¤¢ve¨ SzuwK Lyu‡R †ei risks to employees and business operations during times
Kiv Ges †m¸‡jvi mgvav‡b KvR Kiv| G `j me ai‡bi Z_¨ of crisis. After considering all the available information,
we‡kølY K‡i †KŠkjMZ wm×všÍ MÖn‡Yi ¶gZv iv‡L| G·‡P‡Äi the CMT can make informed strategic decisions with the
mvwe©K Kvh©µg cwiPvjbv, Avw_©K, Kg©x I eª¨vÛg~‡j¨i g‡Zv ¸iæZ¡cY~ © aim of minimizing any long term detrimental effect to
welq¸‡jv gv_vq †i‡L `xN©‡gqvw` †h‡Kv‡bv †bwZevPK cÖfve Gov‡Z the operations, finance, employees and reputation of
†KŠkjMZ wm×všÍ †bq G `j| the Exchange.

Bbwm‡W›U †imcÝ wUg Incident Response Team

†Kv‡bv ANUb ev `yN©Ubvi †¶‡Î †R¨ô e¨e¯’vcK me ai‡bi Z_¨ The senior manager at the site of the incident collects
available pertinent information and advises the Crisis
msMÖn K‡i Ges wmGgwU mgš^qKvix‡K AewnZ K‡i| mswkøó
Management Team (CMT) Coordinator. This manager,
wefv‡Mi Kg©x‡`i mnvqZvq G e¨e¯’vcK `j ANUb ev `yN©Ubvi
assisted by appropriate departmental employees will
†¶‡Î Zvr¶wYKfv‡e c`‡¶c MÖnY K‡ib| wmGgwUi cieZ©x
assume initial control and deal with the incident directly
wb‡`©kbvi AvM ch©šÍ mivmwi Zviv e¨e¯’v †b‡eb| wWGmB G Rb¨
until further directed by the CMT. DSE developed a set
Bbwm‡W›U †imcÝ c×wZ I cÖwµqv M‡o Zz‡j‡Q hv‡Z cÖ‡qvRb
of incident response procedures and process to execute
Abyhvqx h_vh_ e¨e¯’v MÖnY Kiv m¤¢e nq|
as and when required.

Riæwi Ae¯’vq mvov †`Iqvi ms‡KZ Alert for Emergency Responses

Riæwi cª‡qvR‡b Zvr¶wYKfv‡e wWGmB‡Z GKwU h_vh_ gv‡bi The purpose of the “Alert for emergency responses” is
†UªwWs wm‡÷g Pvjy ivLv I cÖwZôv‡bi Ab¨vb¨ m¤ú` i¶vi welqwU to provide a standard and understandable reference for

DSE ANNUAL REPORT n­2019-20

81
 wbwðZ Ki‡Z ÔA¨vjvU© di Bgv‡R©wÝ †imcÝÕ e¨e¯’v M‡o †Zvjv using in emergency situations to ensure the availability
n‡q‡Q| G e¨e¯’v ev w¯‹‡gi gva¨‡g Riæwi Ae¯’vq GKRb Kg©x A_ev of Dhaka Stock Exchange Trading System and all other
`vwqZ¡cvÖ ß e¨w³ cwiw¯’wZ †gvKv‡ejvq mvov w`‡q Aek¨B Kv‡R †b‡g properties of the Exchange. This scheme specifies the
hv‡eb| G QvovI Avgv‡`i i‡q‡Q mßv‡ni mvZ w`bB PweŸk call of emergencies that employees or responsible
NÈvRy‡o mkix‡i Dcw¯’Z †_‡K Ges ¯^qswµq c×wZ‡Z A¨vjvU© persons must response. We have 24x7 alert monitoring
Z`viwK e¨e¯’v| Dciš‘ Avgv‡`i we‡kl GKwU `j i‡q‡Q, hviv system by physical presence and auto generated alert
A¨vjvU© ey‡S cÖ‡qvRbxq e¨e¯’v MÖn‡Y m¶g, †hLv‡b AviGwmAvB system. Moreover, we have specified team for each
†gwUª·I AšÍfy©³ i‡q‡Q| service to handle the alert procedure which includes
RACI matrix.

Bgv‡R©wÝ †imcÝ cø¨vb Emergency Response Plan

XvKv ÷K G·‡PÄ Kg©x I Zvi MÖvnK‡`i wbivcËv I fv‡jvi Rb¨ Dhaka Stock Exchange is committed to the safety and
KvR Ki‡Z cÖwZkÖæwZe×| cvkvcvwk †UªK †nvìvi‡`i †mev`v‡bi well-being of its staff and guests, as well as providing
wel‡qI A½xKvive×| XvKv ÷K G·‡PÄ †Kv‡bv `yN©Ubvq AvµvšÍ service to the TREC holders. This plan exists to satisfy
n‡j RiæwiwfwˇZ hv‡Z mvov †`Iqv m¤¢e nq Ges Kxfv‡e Kx Kx those needs and to outline the steps to be taken to
ai‡bi e¨e¯’v MÖnY Kiv hvq Zv G cø¨v‡bi gva¨‡g mywbw`©ó Kiv prepare for and respond to an emergency affecting
n‡q‡Q| Dhaka Stock Exchange.

Riæwi Ae¯’vq mvov †`Iqvi †¶‡Î nv‡Z †bIqv G D‡`¨v‡Mi g‡a¨ The goals of this plan is responding to an emergency
situation include:
AšÍf©y³ i‡q‡Q :
• The safety of all staff and guests.
• me Kg©x I MÖvn‡Ki wbivcËv
• The physical and emotional well-being of staffs and
• kvixwiK I gvbwmKfv‡e Kg©x I MÖvnK‡`i Kj¨v‡Yi welqwU guests.
†`Lfvj Kiv • The timely stabilization of an emergency situation.
• Riæwi cÖ‡qvR‡b h_vmg‡q cwiw¯’wZ w¯’wZkxj ivLv • The protection of ICT facilities, property and the
• AvBwmwU my‡hvM-myweav, m¤ú` Ges Kg©x I MÖvn‡Ki wbivcËv belongings of staff and guests.

wWRv÷vi wiKfvwi Disaster Recovery

wWRv÷vi wiKfvwi (wWAvi) n‡”Q Ggb GKwU e¨e¯’v, †hLv‡b Disaster recovery (DR) is an area of business continuty
planning that aims to protect an organization from the
cÖwZôvb‡K †h‡Kv‡bv ai‡bi †bwZevPK NUbv †_‡K i¶vi wbivcËv
effects of significant negative events. DR allows an
cwiKíbv MÖnY Kiv nq| wWAvi e¨e¯’vcbvi g‡a¨B `yNU© bvi ciciB
organization to maintain or quickly resume mission-
wech©q mvgvj w`‡q ¯^vfvweK Kvh©µg Pvjy Ki‡Z †hme c`‡¶c
critical functions following a disaster.
wb‡Z n‡e Zv mywbw`©ó Kiv i‡q‡Q| wech©q mvg‡j Ny‡i `vuov‡bvi
Disaster recovery, backup and business continuity
c`‡¶c †bIqvi mvg_¨©, e¨vKAvc ivLv I e¨emvwqK Kvh©µg mPj planning are the important requirements of the
ivLvi cwiKíbv MÖn‡Yi welqwU ÷K G·‡P‡Äi Avewk¨K k‡Z©i Exchange. Disaster Recovery (DR) includes putting in
g‡a¨B i‡q‡Q| msK‡Ui mgq wech©q †gvKv‡ejvq e¨enƒZ place procedures to be undertaken to restore normalcy
Kg©cwiKíbvq h_vh_ I my¯úófv‡e D‡jøL Kiv i‡q‡Q wech©q of operations in the aftermath of a disaster. A disaster
KvwU‡q IVvi cwiKíbvi welqwU| g~jZt wWAvi cÖwµqvi ev¯Íevqb recovery plan is the clearly defined and documented
I e¨e¯’vcbvi †¶‡Î Kvi Kx KiYxq Zv wba©viY Ki‡e me ¸iæZ¡c~Y© plan of action for use at the time of a crisis. Typically, DR
plan covers all the key personnel, resources, services
e¨w³, m¤ú`, †mev I Kv‡Ri welqvw` my¯úó Kiv i‡q‡Q G msµvšÍ
and actions required to implement and manage the DR
cwiKíbvq|
process.
AvBwmwUÕi †¶‡Î wech©q KvUv‡bv - G·‡P‡Äi wbqwgZ Kvh©µg ICT Disaster Recovery – the unexpected interruption
cwiPvjbvi †¶‡Î Z_¨cÖhwy ³MZ (AvBwmwU) Kvi‡Y nVvr K‡i mgm¨v of normal business processes resulting from the

82 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

†`Lv w`‡Z cv‡i| AvBwmwUi †h‡Kv‡bv ai‡bi ÎæwU‡K wech©q wn‡m‡e interruption of the ICT infrastructure components may
†`Lv nq| XvKv ÷K G·‡P‡Äi †UªwWs wm‡÷‡gi Kvh©µg wewNœZ K‡i occur. We consider here all sorts of failure of ICT
infrastructure as Disaster; whatever the small failure it
ev Kivi †Póv K‡i Ggb LyeB mvgvb¨ ÎæwU‡KI wech©q wn‡m‡e a‡i
is, if it interrupts or attempts to interrupt the trading
†bIqv nq| wewfbœ gbyl¨m„ó fzj †hgb : wm‡÷g cwiPvjbvi
system is “Disaster” for Dhaka Stock Exchange.
mdUIq¨vi ev †WUv‡eR ÎæwU, Acv‡iwUs wm‡÷‡g ÎæwU, n¨vwKs ev Disaster may be occurred by human errors like
I‡qemvBU wec`MÖ¯Í nIqv, ˆe`y¨wZK ÎæwU, nvW©Iq¨vi ÎæwU, application software or database error, Operating
ZvcgvÎvRwbZ ÎæwU, Af¨šÍixY †bUIqvK© ÎæwU, G·Uvb©vj ev System error, hacking or site compromising, power
MÖvn‡Ki †bUIqvK© e¨vK‡ev‡b ÎæwU, fvBivm AvµgY, AvBwmwU surge / spike, power outages, hardware error / fault,
wefv‡Mi ¸iæZ¡c~Y© e¨w³‡`i cÖwZôvb Z¨vM, kvixwiK AvµgY, air cooling failure, internal network error / failure or
congestion, external/user network backbone failure,
AwMœKvÐ, feb am, So, eb¨v I f‚wgK‡¤úi g‡Zv bvbvb `y‡h©v‡MI
virus outbreak, major ICT resources leaving
wech©q †b‡g Avm‡Z cv‡i| G Kvi‡Y †WUv †m›Uvi A¨vwcø‡Kk‡bi
organization, physical attack, fires and may be by
cvkvcvwk †bUIqv‡K© e¨enƒZ me ai‡bi wWfvBm dvqviIqv‡ji natural causes like earthquake, hurricanes, storm
gva¨‡g h_vh_fv‡e wbivc` ivLv n‡q‡Q| †d¬·‡UªW e¨enviKvix‡`i damage, floods, failure of building. All access to the
wm‡÷‡g XzK‡Z GK †Rvov D”P gv‡bi wmAvBGm‡Kv dvqviIqvj datacenter application as well as devices through
†cwi‡q Avm‡Z nq| wbivcËvi cÖ‡qvRb Abyhvqx me ai‡bi network are protected by firewall sets, FLexTrade users
wbivcËve¨e¯’v †hgb †bIqv n‡q‡Q, †Zgwb ˆ`e-`ywe©cv‡K bZzb will access the system through a pair of high end
CISCO Firewall, security measures can be deployed as
wbivcËve¨e¯’v †bIqvi my‡hvM i‡q‡Q| G Qvov wm‡÷‡g XzK‡Z
and when required as per security policies, all sorts of
cÖwZôv‡bi ewnivMZ A¨vwcø‡Kkb mieivnKvix‡`i †Zv e‡UB,
external communication of application vendors as well
wWGmBÕi Kg©KZ©v‡`iI GKwU wmAvBGm‡Kv dvqviIqvj cvi n‡Z as DSE officials must pass through another sets of
nq| kw³kvjx ch©‡e¶Y c×wZ wm‡÷‡g AbvûZ cÖ‡ek ev CISCO Firewalls, strong monitoring system ensure
†bUIqv‡K© AbvKvw•ÿZ †Kv‡bv NUbv hv‡Z bv N‡U Zv wbwðZ K‡i protection and prevention of unwanted access or
I cÖwZ‡iv‡ai Rb¨ KvR K‡i| wWGmB wØZxq wWRv÷vi wiKfvwi unexpected network behavior. DSE is going to develop
mvBU ˆZwi Ki‡Z hv‡”Q| the second site as disaster recovery site.

†WUv wi‡Ubkb A¨vÛ e¨vKAvc cwjwm Data Retention and Backup Policy

eZg©v‡b we‡k¦i me©e„nr ÷K G·‡P‡Äi c„ô‡cvlKZvq cwiPvwjZ DSE has been maintaining world’s largest Exchange
†K›`Öxq †eªvKvi AW©vi g¨v‡bR‡g›U wm‡÷g (IGgGm) e¨envi Ki‡Q hosted a centralized Broker Order Management System
wWGmB| †UªK‡nvìviiv hv‡Z wbwð‡šÍ I †Kv‡bv ai‡bi weNœ QvovB (OMS) DSE-FlexTP for the use of DSE TREC holders to
IGgGm Kvh©µg Pvjv‡Z cv‡i †m Rb¨ wWGmB-†d¬·wUwc †bIqv ensure smooth operation of the OMS. All TREC holders
n‡q‡Q| MÖvnK‡`i AW©vi (µq-weµqv‡`k) Kvh©Ki K‡i me †UªK are centrally connected with this system to manage their
†nvìvi †K›`ªxqfv‡e GwUi m‡½ mshy³| wWGmB-†d¬·wUwc GKwU clients’ orders. DSE-FlexTP system is a large enterprise
me©e„nr G›UvicÖvBR wm‡÷g †hwUi wb‡¤œv³ AeKvVv‡gv I system having following infrastructure and application
A¨vwcø‡KkbMZ Dcv`vb i‡q‡Q : components:
• G‡Z 25wU †nv÷ (wdwRK¨vj mvf©vi) i‡q‡Q, †hwUi m‡½ cÖvq • There are 25 Hosts (physical server) with around 250
250 fvP©zqvj †gwkb mvf©vim (wfGg) hy³| Virtual Machine Servers (VM).
• wek¦gv‡bi G›UvicÖvBR ch©v‡qi †÷v‡iR wm‡÷g GBPwc • World class enterprise level Storage System HP 3PAR
3wcGAvi e¨envi Kiv n‡q‡Q, m‡½ i‡q‡Q GmGGb
with SAN infrastructure.
AeKvVv‡gv|
• High capacity 10G network for interconnectivity in
• D”P ¶gZvi 10wR †bUIqvK©| wewfbœ ch©v‡qi mvf©v‡ii g‡a¨
different layer of servers.
AvšÍt‡hvMv‡hv‡M GwU e¨eüZ n‡q _v‡K|
• Tape Backup System.
• †Uc e¨vKAvc wm‡÷g|

DSE ANNUAL REPORT n­2019-20

83
 • G›UvicÖvBR gv‡bi wfGgIq¨vi fvP©zqvj wm‡÷‡gi m‡½ G • Enterprise level VMware Virtual System with vCenter
wm‡÷‡g i‡q‡Q wf‡m›Uvi I wf‡m›Uvi Acv‡ikb g¨v‡bRvi| and vCenter Operation Manager.
• G›UvicÖvBR gv‡bi DB‡ÛvR 2012 I wjb¨v· Acv‡iwUs wm‡÷g • Enterprise Level Windows 2012 and Linux Operating
e¨envi Kiv n‡q‡Q, m‡½ i‡q‡Q GmwKDGj mvf©vi †WUv‡eR| System with SQL Server Database.
• D”P ¶gZvi I DuPz gv‡bi IGgGm A¨vwcø‡Kkb mdUIq¨v‡ii • High performance and high scalable OMS
cvkvcvwk wewfbœ Dcv`vb, wewfbœ mvB‡jv Abyhvqx mgvbfv‡e fvM application software along with different level of
K‡i †`Iqv n‡q‡Q| components are distributed evenly in different Silos.
• †WUvi cwigvY µgvMZfv‡e e„w×i cwi‡cÖw¶‡Z †WUvi e¨vKAvc • The consistent growth in data volumes has
I wiKfvwii Rb¨ cÖ‡qvRbxq I Kvh©Ki e¨e¯’v MÖnY Kiv n‡q‡Q| necessitated an efficient approach to data backup
G Rb¨ wWGmB GKwU mgwš^Z †WUv e¨vKAvc bxwZ ˆZwi K‡i‡Q, and recovery. DSE possesses a comprehensive Data
hv‡Z `y‡h©v‡Mi mgqI ¸iæZ¡c~Y© †WUv myiw¶Z _v‡K| G Qvov backup policy to keep the valuable data safe from
evowZ myi¶v wn‡m‡e wWGmB AdmvBU †WUv e¨vKAvc I any disaster. Additionally, DSE is going to deploy off-
AvKv©Bf AeKvVv‡gv M‡o Zzj‡Q, hv‡Z ¸iæZ¡c~Y© I wµwUK¨vj site Data Backup and archive infrastructure to keep
Z_¨ AdmvBU †jv‡Kk‡b myiw¶Z _v‡K| wWGmB GKwU m¤ú~Y© critical and important data to a safe off-site location.
Ab-mvBU Ges Ad-mvBU B‡j±ªwbK WvKv e¨vKAvc wm‡÷g DSE is going to develop a complete on-site and off-
ˆZwi Ki‡Z hv‡”Q| site electronic data backup system.

AvBGmI 27001 ev¯Íevqb Ges mvwU©wd‡Kkb ISO 27001 Implementation and Certification
XvKv ÷K G·‡P‡Äi †ndvR‡Z A‡bK g~j¨ ms‡e`bkxj Z_¨ Dhaka Stock Exchange possesses a lot of sensitive
i‡q‡Q| Gi g‡a¨ wKQy Z_¨ wWGmBÕi †fZi †_‡K ˆZwi nq Avi information in its custody, some of them are generated
wKQy Z_¨evRvi mswkøó‡`i KvQ †_‡K msMÖn Kiv nq| g~j¨ within DSE and some of them are collected or sent from
ms‡e`bkxj Z_¨ evRv‡ii Rb¨ AZ¨šÍ ¸iæZ¡c~Y© m¤ú`| Ab¨vb¨ its stakeholders. Information is an important asset which,
like other business assets, has value to an organization
e¨emvi m¤ú‡`i g‡Zv cÖvwZôvwbK wKQy m¤ú` i‡q‡Q †h¸‡jvi
and consequently needs to be suitably protected.
h_vh_ myi¶v `iKvi| †h ai‡bi ûgwK †_‡K Z‡_¨i †MvcbxqZv
Information security protects information from a wide
i¶v Kiv †M‡j Zv Z_¨‡K myiw¶Z K‡i|
range of threats to ensure confidentiality.
G A‡ji †bZ„Z¡¯’vbxq G·‡PÄ wn‡m‡e I evsjv‡`‡ki A_©‰bwZK To be the leading exchange in the region and a key
cÖe„w×i Ab¨Zg PvwjKvkw³ wn‡m‡e Avgiv cÖvwZôvwbKfv‡e Z‡_¨i driver of economic growth in Bangladesh, we must
wbivcËv wbwðZ K‡i _vwK| G †¶‡Î AvBGmI 27001 wWGmBÕi ensure information security within the organization. ISO
Rb¨ me‡P‡q fv‡jv mgvavb| 27001 is one of the best solution for DSE.
AvBwmwU wefv‡Mi Z‡_¨i †MvcbxqZv wbwðZ Ki‡Z wZb ai‡bi There are three steps to ensure information security
c`‡¶c i‡q‡Q| †m¸‡jv n‡jv- within the ICT Division:

l AvBGmI 27001 Abyhvqx cÖ‡qvRbxq e¨e¯’v MÖnY (eZ©gvb l Preparedness to comply with ISO 27001
ms¯‹iY 2013) requirement (present version is 2013)

l AvBGmI 27001 Gi Pvwn`v cwicvjb

l ISO 27001 requirement implementation

l AvBGmI 27001 mvwU©wd‡Kkb

l ISO 27001 Certification

AvBGmI 27001 ev¯Íevq‡bi D‡Ïk¨¸‡jv wb¤œiƒc: The objective of ISO 27001 implementation are as
follows:
- GwU ev¯Íevq‡bi g~j D‡Ïk¨ n‡jv Z_¨cÖhyw³ ev AvBwU mykvmb
- Ultimate objective is to ensure IT Governance; IT
wbwðZ Kiv, AvBwU mykvmb e¨emvwqK j¶¨ I AvBwU cÖKí ev Governance creates clarity between business goals
¯’vcbvi ¯^”QZv wbwðZ Kiv| and IT projects / deployment.
- AvBGmI ev¯Íevq‡bi cÖv_wgK j¶¨ n‡”Q Z‡_¨i †MvcbxqZv - Primary objective is to implement Information
wel‡q mykvmb wbwðZ Kiv| Security Governance.

84 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

- GwU ev¯Íevq‡bi cÖ_g c`‡¶c n‡”Q Z_¨ wbivcËv e¨e¯’vcbv - First step is to develop and implement Information
c×wZ M‡o †Zvjv| Security Management System.
- j¶¨ AR©‡bi Rb¨ me‡P‡q DËg cš’v n‡”Q AvBGmI 27001 - deployment of ISO 27001 Information Security
Abyhvqx Z_¨ wbivcËv e¨e¯’vcbv c×wZ (AvBGmGgGm) Management System (ISMS) is the best solution to
cwicvjb| achieve this goal
Avgiv GiB g‡a¨ mdjZvi m‡½ cÖ_g c`‡¶cwU ev¯Íevqb m¤úbœ We have completed the step 1 successfully and started
K‡iwQ| eZ©gv‡b wØZxq c`‡¶cwU ev¯Íevqbvaxb i‡q‡Q| for step 2 implementation phase.

wdb¨vwÝqvj wi‡cvwU©s K‡›Uªvj Financial Reporting Controls

Internal control, as defined in accounting and auditing,
Af¨šÍixY myi¶v ev K‡›Uªvj welqwU m¤ú‡K© A¨vKvDw›Us I AwWwUs‡q
is a process for assuring of an organization's objectives
my¯úó D‡jøL i‡q‡Q| GwU Ggb GKwU e¨e¯’v, †hLv‡b cÖwZôv‡bi
in operational effectiveness and efficiency, reliable
j‡¶¨i m‡½ msMwZ †i‡L Kvh©Ki I MwZkxj cwiPvjbv, wek¦vm‡hvM¨
financial reporting and compliance with laws,
wdb¨vwÝqvj wi‡cvwU©s Ges AvBb-Kvbyb, wewaweavb I bxwZ †g‡b
regulations and policies.
Pjvi wbðqZvi weavb i‡q‡Q| Kvh©Ki Af¨šÍixY myi¶v m¤ú‡`i
Effective internal control reduces the risk of asset loss
¶wZi SzuwK Kgvq| cvkvcvwk cwiKwíZ I c~Yv©½ Z_¨ wbwðZ Kivi
and helps ensure that planned information is
gva¨‡g Avw_©K cÖwZ‡e`b‡K A‡bK †ewk wek¦vm‡hvM¨ I wbf©yj Kiv
complete and financial statements are accurate,
hvq| †mB m‡½ mswkøó AvBb, wewaweavb †g‡b Avw_©K cwiKíbv
reliable and the plan's operations are conducted in
ev¯Íevq‡bi welqwUI wbwðZ nq G e¨e¯’vi gva¨‡g| wdb¨vwÝqvj
accordance with the provisions of applicable laws
wi‡cvwU©s‡qi †¶‡Î wWGmB DbœZ bxwZ I MvBWjvBb AbymiY Kivi
and regulations. DSE has standard policies and
cvkvcvwk G wel‡q wbix¶v I SzuwK e¨e¯’vcbv KwgwUi gva¨‡g
guidelines for financial reporting to the Board
cwiPvjbv cl©‡`i Kv‡Q `vqe× _v‡K|
through Audit and Risk Management Committee.

Af¨šÍixY wbix¶v Internal Audit

Af¨šÍixY wbix¶v (B›Uvibvj AwWU) Ggb GKwU MwZkxj e¨e¯’v, Internal audit is a dynamic process involved in helping
hv cÖwZôvb‡K Zvi j¶¨c~i‡Y mnvqZv K‡i _v‡K| G e¨e¯’vi gva¨‡g organisations achieve their objectives. It is concerned
h_vh_ g~j¨vq‡bi wfwˇZ SzuwK e¨e¯’vcbvi Kvh©KvwiZv e„w× Ges with evaluating and improving the effectiveness of risk
cÖvwZôvwbK wbqš¿Y I mykvmb cÖwZôv Kiv nq| wWGmB‡Z GKwU management, control and governance processes in an
¯^vaxb I ¯^qsm¤ú~Y© Af¨šÍixY wbix¶v wefvM i‡q‡Q| G wefvM organisation. DSE has an independent and full fledged
e¨e¯’vcbv cwiPvj‡Ki gva¨‡g wbix¶v I SzuwK e¨e¯’vcbv KwgwUi internal audit department which report to Audit and Risk
Kv‡Q Zv‡`i cÖwZ‡e`b Rgv †`q| Management Committee through Managing Director.

Statutory Audit
mswewae× wbix¶v
External Auditor plays a critical role in validating
ewnivMZ wbixÿK †Kv¤úvwbi Avw_©K Z‡_¨i mZ¨Zv wbwðZ Kivi
company financial information. The external auditor
†¶‡Î ¸iæZ¡c~Y© f‚wgKv cvjb K‡i _v‡K| †Kv¤úvwbi Avw_©K
conducts annual statutory audit of company’s financial
cÖwZ‡e`‡bi wbqggvwdK evwl©K mswewae× wbix¶v Kvh©µg cwiPvjbv
statement. External auditor can give their opinion
K‡i ewnivMZ wbixÿK| ewnivMZ wbixÿK cÖ‡hvR¨ †¶‡Î mswkøó where applicable. Their opinion, special audit,
wel‡q gZvgZ e¨³ Ki‡Z cv‡ib| Zv‡`i gZvgZ, we‡kl wbix¶v, accountancy and opinion on internal issues bear huge
wnmveiÿY I Af¨šÍixY wbqš¿‡Yi wel‡q gZvgZ we‡kl ¸iæZ¡ enb importance. A report on the above is given to the Audit
K‡i| ewnivMZ wbixÿK eQi †k‡l wbix¶v Kvh©µ‡gi GKwU and Risk Management Committee and to the
cÖwZ‡e`b wbix¶v I SzuwK e¨e¯’vcbv KwgwU Ges e¨e¯’vcbv management once a year after substantial completion
KZ©„c‡¶i Kv‡Q cÖwZeQi w`‡q _v‡K| of the year-end audit.

DSE ANNUAL REPORT n­2019-20

85
 cwi‡ek I mvgvwRK mykvmb Environmental and Social
Governance
mvaviYfv‡e BGmwR ej‡Z cwi‡ekZ, mvgvwRK Ges In a common parlance and intuitive definition ESG
mykvm‡bi welq †K eySvq| BGmwR †KvbI ms¯’vi Avw_©K stands for Environmental, Social, and Governance
(ESG). ESG are the criteria that altogether establish the
`¶Zv Ges cwiPvjbv m¤ú‡K© Zvi ¯’vwqZ¡ Ges ˆbwZK
framework for assessing the impact of the sustainability
Abykxj‡bi cÖfve g~j¨vq‡bi Rb¨ KvVv‡gv cÖwZôv K‡i|
and ethical practices of a company on its financial
weKífv‡e ejv hvq, cwi‡ekMZ, mvgvwRK I mykvmb e¨e¯’v
performance and operations. Alternatively focusing,
Ggb GKwU ˆewkó¨, hv mvgvwRKfv‡e m‡PZb wewb‡qvMKvixiv Environmental, Social and Governance (ESG) criteria
Dchy³ wewb‡qv‡Mi Rb¨ cÖwZôv‡bi Kvh©µ‡gi gvb`Û¸wj are a set of standards for a company’s operations that
cix¶v wbix¶v Ki‡Z e¨envi K‡i| AwaKš‘, eZ©gv‡b socially conscious investors use to screen potential
wewb‡qvMKvix, cvIbv`vi, miKvi Ges Ab¨vb¨ cwi‡ekMZ investments. Moreover, nowadays the contribution of
ms¯’v¸wji Kv‡Q †UKmB Dbœq‡b cÖwZôv‡bi Ae`vb LyeB corporations towards sustainable development is a

¸iæZ¡c~Y©| major concern of investors, creditors, government, and

other environmental agencies.
we‡ePbvi Rb¨ g~j welq¸wji g‡a¨ mvaviYZ: Key issues for consideration typically include:
B (GbfvBib‡g›U): Rjevqy cwieZ©b, Kve©b wbtmiY, E: climate change, carbon emissions, pollution,
`~lY, `¶ gvbem¤ú`, Rxe ˆewPΨ, R¡vjvwb LiP; resource efficiency, biodiversity, energy
consumption,
Gm (†m¨vkvj): gvbevwaKvi, kÖggvb, ¯^v¯’¨ I myi¶v,
S: human rights, labor standards, health & safety,
ˆewPΨZvi bxwZ, m¤cÖ`vq m¤úK©, gvbe m¤ú` Dbœqb
diversity policies, community relations,
(¯^v¯’¨ I wk¶v);
development of human capital (health &
wR (Mfb©vÝ): K‡c©v‡iU mykvmb, `yb©xwZ, AvB‡bi kvmb, education);
cÖvwZôvwbK kw³, ¯^”QZv| G: corporate governance, corruption, rule of law,
evRv‡i Dcjä Z‡_¨i ¸YMZ Ges cwigvY DbœZKi‡Yi institutional strength, transparency.

gva¨‡g †UKmB djvdj¸‡jv‡Z wewb‡qvMKvix‡`i wm×všÍ DSE is working to improve the quality and quantity of
MÖn‡Yi ÿgZv evov‡bvi j‡ÿ¨ wWGmB KvR Ki‡Q, information available to the market on sustainable
D`vniY¯^iƒc ejv hvq, Zv‡`i †cvU©‡dvwjI Ges †KŠkj‡K outcomes in order to empower investors to make
cwi‡ek I mvgvwRK mykvmb (BGmwR) Gi mv‡_ AviI decisions on this basis, for example to assist investment
mymsnZ Ki‡Z wewb‡qvM Znwej‡K mnvqZvKiY| funds to better integrate Environmental, Social and
Governance (ESG) factors into their portfolios and
weGmBwm K‡cv©‡iU Mfb©¨vÝ †KvW (wmwRwm) Rvwi K‡i‡Q,
strategies.
†hLv‡b ZvwjKvfz³ †Kv¤úvwb¸‡jvi w¯’wZkxjZv, ˆewPΨbxwZ
Ges msL¨vjNy †kqvi‡nvìvi‡`i myiÿvi †ÿ‡Î SzuwK cwigvc BSEC issued the Corporate Governance Code (CGC).

I cÖKvk‡K weGmBwmÕi K‡cv©‡iU Mfb©¨vÝ †KvW 2018 †Z Where measurement and disclosure of a listed

AšÍfz©³ Kiv n‡q‡Q| mKj ZvwjKvfz³ †Kv¤úvwb‡K Aek¨B company’s threat to sustainability, diversity policy and

bZzb K‡cv©‡iU Mfb©¨vÝ †KvW †g‡b Pj‡Z n‡e Ges Gi d‡j protection of minority shareholders, have been

†Kv¤úvwbi ¯’vwqZ¡ Ges ¯^”QZvi cÖwZ eva¨evaKZv AviI incorporated in the BSEC’s Corporate Governance

evo‡e Avkv Kiv hvq| Code 2018. All listed companies must comply with the
new Corporate Governance Code. And these are
†`‡ki cÖavb ÷K G·‡PÄ wWGmBÕi GKwU `xN© BwZnvm expected to enhance the company’s obligation to
i‡q‡Q mvgvwRK `jmg~n‡K cÖ‡qvR‡bi mg‡q mn‡hvwMZv sustainability and fairness.

86 wWGmB evwl©K cÖwZ‡e`b n­2019-20

Kivi| XvKv ÷K G·‡PÄ cÖavbgš¿xi ÎvY I Kj¨vY Znwe‡j As a premier bourse, DSE has a long track record to

†KvwfW-19 gnvgvixi weiæ‡× jovB‡q mnvqZvi Rb¨ Aby`vb support social groups in need of help. Dhaka Stock
Exchange (DSE) has donated to the Prime Minister’s
w`‡q‡Q, hv‡Z K‡ivbv fvBiv‡mi we¯Ívi‡iv‡a miKvi Zvi
Relief and Welfare Fund to help fight the COVID-19
cÖ‡Póv Z¡ivwš^Z Ki‡Z cv‡i| wWGmB WweøDGBPIÕi wb‡`©kbv
pandemic so that the government can expedite its efforts
AbymiY Ki‡Q Ges Kgx©‡`i my¯v^ ¯’¨ Ges my¯Z
’ vi Rb¨ mev©waK to prevent the spread of coronavirus. DSE has following
AvšÍwiK cÖ‡Póv Pvwj‡q hv‡”Q| WHO guideline and give most sincere effort for Good
health and well-being of the employees as well.
RvZxq Ges AvšÍRv©wZK chv©‡q mw¤§wjZ Ges mgwš^Z
Only collective, coordinated action at the national and
c`‡ÿcB †Kej Rjevqy cwieZ©b Ges e„nËi †UKmB Dbœq‡b
international level can mobilize investment in support of
mg_©‡bi Rb¨ wewb‡qvM‡K msnZ Ki‡Z cv‡i| GUv‡K wWGmB
the climate transition and wider sustainability – this is a
AMÖvwaKvi w`‡”Q| Avgiv M‡elYv, we‡kølY Ges w`K top priority for us. We will continue to produce the
wb‡`©kbv¸‡jv Ae¨vnZ ivLe hv‡Z cÖ‡Póvmg~n GwM‡q wb‡q research, analysis and guidance need to drive these
hvIqv hvq, GQvov ˆewk¦K mn‡hvwMZvi Rb¨ cøvUdg© mieivn efforts forward, provide platforms for global
Kiv Ges wek¦e¨vcx mgvav‡bi w`‡K Ab¨vb¨ AvšÍRv©wZK ms¯’vi cooperation across sectors, and work with other
international bodies towards global solutions.
mv‡_ mgš^q K‡i KvR K‡i|

DSE ANNUAL REPORT n­2019-20

87
 †Møvevj wi‡cvwU©s Bwbwk‡qwUf (wRAviAvB) Collaborative initiatives with
Gi mv‡_ mn‡hvMx D‡`¨vM Global Reporting Initiative (GRI)
†Møvevj wi‡cvwU©s Bwbwk‡qwUf (wRAviAvB) GKwU AvšÍRv©wZK The Global Reporting Initiative (GRI) is an
international independent standards organization
¯^vaxb ms¯’v hv Rjevqy cwieZ©b, gvbevwaKvi Ges `ybx©wZi g‡Zv
that helps businesses, governments and other
welq¸‡jv‡Z e¨emv, miKvi Ges Ab¨vb¨ cÖwZôvb¸‡jv‡K organizations understand and communicate their
cÖfve¸‡jv eyS‡Z mnvqZv K‡i| impacts on issues such as climate change, human
rights and corruption.
XvKv ÷K G·‡PÄ wjwg‡UW Ges †Møvevj wi‡cvwU©s Bwbwk‡qwUf Dhaka Stock Exchange Limited (“DSE”) and Global
(wRAviAvB) 20 †g, 2018 Zvwi‡L ZvwjKvfz³ †Kv¤úvwb¸‡jv‡K Reporting Initiative (“GRI”) entered into first agreement
on May 20, 2018 to build commitment and awareness
BGmwR (Gbfvib‡g›Uvj, †mvm¨vj Ges Mfvb©¨vÝ) wel‡q
to provide guidance to listed companies on ESG
cÖwZkÖæwZe× Ges m‡PZbZv ˆZwii Rb¨ cÖ_g Pzw³‡Z Ave× nq| (Environmental, Social and Governance).

wRAviAvBÕi GB Kg©Kv‡Ði Ask wn‡m‡e, wWGmB (Ryb 2019 As of this endeavor of GRI, DSE has done following
workshops on Technical Series titled “Preparing a
†_‡K Rvbyqvwi 2020) mg‡qi g‡a¨ Ò†UKmB cÖwZ‡e`b Sustainability Report” comprised of three workshops
cÖ¯‘ZKiYÓ kxl©K †UKwbK¨vj wmwi‡Ri Ici wb¤œwjwLZ wZbwU that were spaced out over a period of time (June
2019 to January 2020).
Kg©kvjvi Av‡qvRb K‡i‡Q|

September 18, 2019

18 †m‡Þ¤^i 2019
GRI Standards Disclosure & Reporting on SDGs
wRAviAvB ÷¨vÛvW©m cÖKvk Ges GmwWwR wel‡q cÖwZ‡e`b Kiv
Number of participants: 45+59 (webinar)
AskMÖnYKvix‡`i msL¨v t 32 wU †Kv¤úvwb †_‡K 45+59 participants from 32 companies
(I‡qwebvi) AskMÖnYKvix
Topics covered:
Av‡jvP¨ welqmg~n :
- Making claims related to the use of GRI Standards
- wRAviAvB ÷¨vÛvW© e¨envi m¤úwK©Z `vwe Kiv
- GRI General Disclosures
- wRAviAvB mvaviY cÖKvkbv
- Disclosure of Material Topics
- g¨v‡Uwiqvj welq cÖKvk
- Sustainable Development Goals.
- †UKmB Dbœq‡bi jÿ¨mg~n

January 22, 2020

22 Rvbyqvix 2020
Practical Tips for preparing your next report: Bringing
cieZx© cÖwZ‡e`b cÖ¯Z
‘ Kivi Rb¨ e¨envwiK wUcm t me GKwÎZ it all together
Kiv
Number of participants: 48 participants from 30
AskMÖnYKvixi msL¨v : 30wU †Kv¤úvwbi 48 Rb AskMÖnYKvix companies
Av‡jvP¨ welqmg~n : Topics covered:
- mvm‡U‡bwewjwU wi‡cvU© P~ovšÍ Kiv - Finalising your sustainability report
- wi‡cvwU©s cÖwµqv - Reporting Process
- mvm‡U‡bwewjwU wi‡cvwU©s ¯úó Kiv : wRAviAvB wfwËK - Demystify sustainability reporting: FAQ on
mvm‡U‡bwewjwU wi‡cvU© ˆZwii wel‡q FAQ preparing a GRI based Sustainability Report
- wRAviAvB mnvqZv, cwi‡mev Ges miÄvgmg~n - GRI support, services and tools

- wRAviAvB Ges AskMÖnYKvix ms¯’v¸‡jvi g‡a¨ cvi¯úvwiK - One on one calls between GRI & participating
†hvMv‡hvM| companies.

88 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wewb‡qvM wk¶v Financial Literacy

Avw_©K wkÿv n‡jv Avw_©K wel‡q e¨w³MZ e¨e¯’vcbv Ávb| Financial literacy is knowledge about personal
management of finances. It gives the twin benefit of
GwU Avw_©K RvwjqvwZ †_‡K i¶v Kivi cvkvcvwk Avw_©Kfv‡e
protecting from financial frauds as well as planning
myiw¶Z fwel¨r cwiKíbvi ˆØZ myweav †`q| Avw_©K wk¶v for financially secured future. Financial literacy gives
MÖvnK‡`i wewfbœ Avw_©K c‡Y¨i Dchy³Zv Ges evRv‡i Avw_©K consumers the necessary knowledge and skills
wewb‡qv‡Mi my‡hvM¸‡jv g~j¨vq‡bi Rb¨ cÖ‡qvRbxq Ávb Ges required to assess the suitability of various financial
products and investment opportunities available in
`¶Zv †`q| eZ©gv‡b Avw_©K wkÿv AZ¨šÍ ¸iæZ¡c~Y© n‡q
the financial market. It has become very important in
D‡V‡Q, KviY Avw_©K evRvi¸‡jv RwUj n‡q D‡V‡Q Ges the recent years, as financial markets have become
evRvi I wewb‡qvMKvix‡`i g‡a¨ Z‡_¨i e¨eavb i‡q‡Q e‡j complicated and there is information gap between
markets and the
mwVK Avw_©K wewb‡qvM
investors, leading to
Ki‡Z Amyweav nq| difficulties in making
evsjv‡`‡k Avw_©K wk¶vi correct financial choices.

hvÎv ïiæ n‡q‡Q 2017 Financial literacy journey

in Bangladesh has been
mv‡j| †`ke¨vcx Avw_©K
started in the year of
wk¶v †cÖvMÖvg Gi AvIZvq 2017. Almost 37,000
cÖvq 37,000 AskMÖnYKvix participants have been
trained under Nationwide
cÖwkw¶Z n‡q‡Q| wWGmBÕi
Financial Literacy
mvwe©K ZË¡veav‡b wWGmB †UªK †nvìvi‡`i Øviv Ryb 2020 Program. Total number of 31 programs have been
mvj ch©šÍ †gvU 31wU Abyôv‡b 4,780 AskMÖnYKvix cÖwkw¶Z conducted by DSE Training Academy and DSE TREC
n‡q‡Q| Holders under supervision of DSE from July 2019 to
June 2020 where 4,780 participants were trained.
weGmBwm, evsjv‡`k GKv‡Wwg di wmwKDwiwUR gv‡K©Um
BSEC, Bangladesh Academy for Securities Markets
(weGGmGg) Ges wWGmB †Uªwbs GKv‡Wwg B‡Zvg‡a¨ (BASM) and DSE Training Academy jointly have taken
wewb‡qvMKvix Ges cyuwRevRv‡i Kg©iZ‡`i Rb¨ wbqwgZ initiative to conduct Regular Financial Literacy
Programs for Investors and Capital Market
wewb‡qvM wkÿv cwiPvjbvi Kvh©µg ïiæ K‡i‡Q| weGmBwm
Employees. BSEC has already conducted 6 (six)
B‡Zvg‡a¨ †`‡ki wefvMxq kn‡i 6wU m‡¤§jb K‡i‡Q| conferences in divisional cities in the country.

DSE ANNUAL REPORT n­2019-20

89
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

cyuwRevRv‡ii gva¨‡g bZzb bZzb

D‡`¨v³v m„wó Kiv m¤¢e
AvšÍR©vwZK cyuwRevRvi I wWGmB
GLOBAL MARKET & DSE
 Asia Pacific Domestic Market

Market Capitalization to GDP ratio

Sl. Name of the Exchanges Market Cap. Market Cap.
No. USD bn (Jun-19) USD bn (Jun-20)
1 BSE India Limited 2,207.92 1,842.04
2 Bursa Malaysia 410.07 355.02
3 Colombo Stock Exchange 14.30 12.91
4 Dhaka Stock Exchange 41.10 29.90
5 Hong Kong Exchanges and Clearing 4,189.28 4,890.42
6 Indonesia Stock Exchange 513.12 398.34
7 Japan Exchange Group 5,614.22 5,664.05
8 Philippine Stock Exchange 286.85 221.05
9 Shanghai Stock Exchange 4,776.75 5,264.87
10 Shenzhen Stock Exchange 3,034.15 3,916.77
11 Singapore Exchange 725.89 585.92
12 Taiwan Stock Exchange 1,046.39 1,202.39
13 The Stock Exchange of Thailand 588.04 472.52

Market Capitalization Market Cap., USD bn Jun-20

Market Cap., USD bn Jun-19

The Stock Exchange of Thailand

Taiwan Stock Exchange
Singapore Exchange
Shenzhen Stock Exchange
Shanghai Stock Exchange
Philippine Stock Exchange
Japan Exchange Group
Indonesia Stock Exchange
Hong Kong Exchanges and Clearing
Dhaka Stock Exchange
Colombo Stock Exchange
Bursa Malaysia
BSE India Limited
- 500 1,000 1,500 2,000 4,500 3,000 3,500 4,000

92 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
 Turnover Value, USD bn Jul-19 to Jun-20
Turnover Value
Turnover Value, USD bn Jul-18 to Jun-19
The Stock Exchange of Thailand
Taiwan Stock Exchange
Singapore Exchange
Shenzhen Stock Exchange
Shanghai Stock Exchange
Philippine Stock Exchange
Japan Exchange Group
Indonesia Stock Exchange
Hong Kong Exchanges and Clearing
Dhaka Stock Exchange
Colombo Stock Exchange
Bursa Malaysia
BSE India Limited
- 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000

No. of Trades, '000 Jul-19 to Jun-20

No. of Trades, '000 Jul-18 to Jun-19

4,050,000

4,000,000

3,050,000
No. of Trades

3,000,000

2,050,000

2,000,000

1,050,000

1,000,000

500,000

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In

Sourch: World Federation of Exchanges (WFE)

Stock Exchanges website
International Moneytary Fund (IMF)

DSE ANNUAL REPORT n­2019-20

93
 SZSE Market at a Glance

Outstanding Market Performance in 2020

Relative Movements of SZ Component and ChiNext Index vs. Major Indices Year-to-Date
(2 Jan to 15 Sept, Set index on 2 Jan as 100)
160

150

140

130

120

110

100

90

80

70

60
2020-01-02 2020-02-02 2020-03-02 2020-04-02 2020-05-02 2020-06-02 2020-07-02 2020-08-02 2020-09-02

ChiNext SZ Component HSI Nasdaq FTSE100

• Generally SZ market outperformed and ChiNext is the best performer after the outbreak
• ChiNext outperformed SZ Component for more than 18 percentage points by Sept 15th

Multi-tiered Capital Market

Shoulder the responsibility to serve innovative companies and entrepreneurship

Main Board: Competitive blue chips

No. of listed companies: 469
Total market cap: USD 1.1trn
Average market cap: USD 2.4bn
SME Board: Niche champions
No. of listed companies: 968
Total market cap: USD 1.6trn
Average market cap: USD 1.7bn
ChiNext Market: Innovation and entrepreneurship
No. of listed companies: 860
Total market cap: USD 1.1trn
Average market cap: USD 1.4bn
Total
No. of listed companies: 2297
Total market cap: USD 3.9trn
Source: SZSE, as of 22 Sept 2020; reference Average market cap: USD 1.7bn
exchange ratio: 1USD=7.0RMB
No. of accounts: 230mn
Turnover rate: 2.44 2

94 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Growing Institutional Participation

Proportion of Trading Value of Institutional and Retail Investors

100%
11% 12% 15%
90% 19% 20% 23% 26%
80%

70%

60%

50%
89% 88% 85%
40% 81% 80% 77% 74%
30%

20%

10%

0%
2015 2016 2017 2018 2019 2020Q1 2020Q2

Retail Investors Institutional Investors

• Institutional trading increases significantly after the launch of Stock Connect

• Institutional trading reaches its record high (26%) in Q2 2020

ChiNext Reform Overview

• First batch of 18 companies listed on 24 Aug 2020 at SZSE

• Positioning: to mainly serve growth oriented innovative entrepreneurial enterprises, and

support the in-depth integration between traditional industries and new technologies, new

industries, new forms and new models of business

• Pilot registration-based share issuance framework (IPO and follow-on offerings)

• Diversify listing standards to accommodate non profit-making companies

• Relax the daily price limit from 10% to 20% on both sides. No daily price limit in the first 5

trading days immediately after listing

• Streamline the delisting mechanism & shorten the exit cycle

• Raise the upper limit of ESOP of listed companies from 10% to 20%

• Allow companies with “red-chip structure”, VIE arrangement, and WVR structure to get listed

DSE ANNUAL REPORT n­2019-20

95
 V-Next Innovation 33
Ecosystem 74
PROVINCES
7800+
12900+ enterprises from 41+ countries INVESTMENT
HIGH-TECH
INSTITUTIONS
ZONES

Target Users 28 20600+

REGIONAL OTC
INVESTORS
• Innovative enterprises MARKETS
• PE/VCs
• Buyer companies (Listed or non-
listed)

41 2500+
LISTED
COUNTRIES
V-Next Partners COMPANIES

• Stock exchanges, financial

intermediaries
• Incubators, accelerators, research
institutes 300+ 12900+
• Embassies, consulates, investment ROADSHOWS ENTERPRISES
promotion agencies
• Innovation platforms, international
/YEAR
46+
BILLION
events & competitions FUNDRAISING
AMOUNT

*Updated as of Jun. 2020

Rich and Diverse Product System

Financial
Product

Equity Fixed Income Fund Index Derivatives

A-shares Government Structured fund Scale index Option

bond

B-shares Municipal bond Closed-end Fund Composite index

Preferred Corporate bond Sector index

shares ETF

Enterprise bond Style index

LOF
Convertible bond Thematic index

ABS
Composite index

96 wWGmB evwl©K cÖwZ‡e`b n­2019-20

 Leading Technology

The safest and most advanced securities Market surveillance based on “big data”
trading system

Higher reliability Lower latency and Trading data Clearing data Member’s data
• 18 years of trouble-free higher performance
operation • 300,000 orders per
Pre-trading risk monitoring Companies information Media information
• second
• Spare system shift within • Order placement latency:
10 seconds 1.1 milliseconds

Intelligent analysis parameters system

Larger capability Stronger scalability • 130 warning indicators

• Daily processed orders: • Multi-interface in line with • 5 sets of intelligent analysis indicators
400 million international standard
• Listed instruments: 50,000 • Ready for product
expansion
• An in-house system Insider trading Market manipulation

DSE ANNUAL REPORT n­2019-20

97
 SSE Market at a Glance

SSE - the Premium Blue-chip Market

Premium Listing Venue for Blue-chips
Ranking Among World’s Top Exchanges (2019 in terms of below indicators)

Market Cap. (USD tn)

Value of Share Trading (EOB, USD tn) Fund Raised through IPO (USD bn)
NYSE Nasdaq-US HKEX

Nasdaq-US Cboe Global Saudi Stock Exchange

JPX SZSE SSE 26.55

SSE 5.11 NYSE Nasdaq-US

HKEX SSE 7.88 NYSE

Euronext JPX LSE Group

LSE Group LSE Group SZSE

SZSE KRX ASX

Saudi Stock Exchange Euronext Deutsche Boerse

TMX Group Cboe Europe Euronext

0 5 10 15 20 25 0 5 10 15 20 0 10 20 30 40 50

Source: SSE, WFE, as of the end of 2019. 1

SSE - the Premium Blue-chip Market

Companies Ranking Among the Top
Fortune Global 500
2019
Top Global 500 Companies Listed in SSE
No. of Fortune Global 500 Companies
129 Revenue (USD
121 Company Name Global Rank Listed Company
bn)
Sinopec Group 2 414.6 600028.SH
China National Petroleum 4 393.0 601857.SH
52
600406.SH
31 29 State Grid 5 387.1
(Subsidiary)
16 16 14 13 11
China State Construction
21 181.5 601668.SH
Engineering
601138.SH
Hon Hai Precision Industry 23 175.6
(Subsidiary)
Industrial & Commercial Bank
26 169.0 601398.SH
Of China

Among the 129 China companies in the 2019 list, there are 119 Ping An Insurance 29 163.6 601318.SH
mainland China and Hong Kong companies, of which 93 are listed or
have subsidiaries listed in China A share market, and 81 of them China Construction Bank 31 151.1 601939.SH
choose SSE.
Agricultural Bank of China 36 139.5 601288.SH

SAIC Motor 39 136.4 600104.SH

Source: Fortune, SSE. Note that multiple subsidiaries of the same company listed in the same market are counted as one. 3

98 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

SSE - the Premium Blue-chip Market
High Quality Blue-chip Stocks

High Dividend Yield (TTM) Improving Corporate Governance

%
• In 2002, the CSRC published the guidelines of corporate governance for listed
SSE 50 3.50
companies, which set explicit requirements for corporate governance. The
guidelines were mainly built upon OECD Principles of Corporate Governance.
SSE A Shares 2.69
• In Sep. 2018, the CSRC revised the guidelines to adapt to the dramatic changes
in domestic and overseas markets, and several new rules are added:
China A Shares 2.19
Ø Establish the basic framework for ESG information disclosure;

SZSE A Shares 1.37

Ø Encourage institutional investors to participate in the corporate
governance of listed companies, and that brokerage companies should
pay more attention to listed companies’ corporate governance when
ChiNext 0.71 offering service.

Chinese Corporate Governance Index

CAC 40 3.73 63

SSE 50 3.50

DAX 3.36 62

DIJA 2.56
61
Nikkei 225 2.19

S&P 500 2.12

60
2013 2014 2015 2016 2017
SENSEX 30 1.37

Source: CSRC, Wind, CCGINK, as of the end of 2018. Note that Chinese Corporate Governance Index is published by Nankai University 4

SSE STAR Market – Where China Innovation Companies Cluster

Timeline of the Project Mission and Vision
2018.11.5 China
The SSE STAR Market was announced by President Xi
during the China International Import Expo. • Enhance the capability to
serve technology innovation
2019.1.23 • Promote the high-quality
The plan and guidelines for the STAR Market were development of the Chinese
approved by the Central Committee for Deepening economy
Overall Reform.
2019.3.1
The CSRC and the SSE released key rules and
guidelines on SSE STAR market.
2019.3.18
The SSE officially began to accept applications for
offering and listing of issuers.
2019.6.5
The first listing committee review meeting was held
and 3 companies got review.
2019.6.13 Shanghai Capital Market
The SSE STAR Market was officially launched.
• Support the construction of • Promote the market-oriented
2019.6.14 Shanghai International Financial reform of the capital market,
The first 2 companies successfully registered at the Center and Innovation Center of improve the multi-tiered capital
CSRC. Science and Technology market
2019.7.22 • Promote the joint development • Accumulate experience for the
The first batch of 25 companies were listed on the of the two centers construction of the capital market
SSE STAR Market infrastructure

DSE ANNUAL REPORT n­2019-20

18
99
 SSE STAR Market – Where China Innovation Companies Cluster
Positioning and Targeted Companies

New Generation High-end

New Materials
IT Equipment

Energy
Conservation &
New Energy Biomedicine
Environmental
Protection

19

SSE STAR Market – Where China Innovation Companies Cluster

Companies that Might Shortly be Available on the STAR Market
No. of Applicants for Offering and Listing Applicants by No. of Patents
As of 31 October 2019, a total of 168 applications were received. 59 applicants have
registered with the CSRC, and 40 of them have listed in SSE STAR Market.

New Generation 69 0~50 45

IT
25
21

40
Biomedicine 14 51~100 47
8

High-end 26
Equipment
7
5 No. of Applications
101~250 49
No. of Registration
18 No. of Listing
New Materials 11
6
251~500 17
Energy
Conservation & 10
Environmental
1
Protection

5 >500 10
Others 1

Source: Wind, qichacha 20

100 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

SSE STAR Market – Where China Innovation Companies Cluster
New Mechanism, New Opportunities
Key Features

The Offering Review and Differentiated Trading

Registration System Mechanisms

Diversified Listing More Targeted

Standards Overall Design Continuous Supervision

Market-oriented Offering Strengthened Delisting

Pricing System

Source: SSE 21

DSE ANNUAL REPORT n­2019-20

101
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

DbœZ evsjv‡`k wewbg©v‡Y

cyuwRevRvi GK wbf©i‡hvM¨ Drm
- gvbbxq cÖavbgš¿x †kL nvwmbv
cwiPvjbv cl©‡`i cÖwZ‡e`b
DIRECTORS’ REPORT
 m¤§vwbZ †kqvi‡nvìvie„›` Dear Shareholders

Avmmvjvgy AvjvBKyg Assalamu Alaikum

On behalf of the Board of Directors, I would like to

XvKv ÷K G·‡PÄ wjwg‡U‡Wi 59Zg evwl©K mvaviY mfvq
extend my sincere congratulations to all of you for
wWwRUvj cøvUd‡g©i gva¨‡g AskMÖn‡Yi Rb¨ Avwg cwiPvjbv
participating in the 59th Annual General Meeting of
cl©‡`i c¶ †_‡K Avcbv‡`i mKj‡K AvšÍwiK Awfb›`b
DSE on Digital Platform. I am very happy to present
Rvbvw”Q| Avwg cÖ_gev‡ii g‡Zv 2019-20 A_©eQ‡ii cwiPvjbv the Board of Director's report and financial report to
cl©‡`i cÖwZ‡e`b I Avw_©K cÖwZ‡e`b Avcbv‡`i mvg‡b Dc¯’vcb you for the first time for the year 2019-20.
Ki‡Z †c‡i AZ¨šÍ Avbw›`Z| We all know that Capital market is an integral part of
Avgiv Rvwb †h cyuwRevRvi GKwU †`‡ki A_©bxwZi Awe‡”Q`¨ the economy of a country. Its role is vital for inclusive

A½| m¤ú` e›Ub Ges wewb‡qvMKvix‡`i Rb¨ g~jab‡K AviI growth in terms of wealth distribution and making
capital safer for investors. Through its multifarious
wbivc` Kivi †¶‡Î Gi f~wgKv e¨vcK| eûgyLx f~wgKvi gva¨‡g
roles, the capital market contributes to the overall
cyuwRevRvi GKwU †`‡ki mvgwMÖK Dbœq‡b Ae`vb iv‡L| GwU
development of a country. It generates employment,
Kg©ms¯’vb m…wó K‡i, wewb‡qvM evovq, mÂq‡K DrmvwnZ K‡i,
boosts up investment, promotes savings, help
AeKvVv‡gv Dbœq‡b mnvqZv K‡i Ges m‡e©vcwi GwU AvšÍR©vwZK developing infrastructure and above all it contributes
m¤úK© weKv‡k Ae`vb iv‡L| Avgiv Avgv‡`i cyuwRevRv‡ii in developing international relationship. We would like
m‡e©vËg e¨envi wbwðZ Ki‡Z PvB| to make the best use of our capital market.

evsjv‡`‡ki A_©‰bwZK ch©v‡jvPbv Economic Review of Bangladesh

Bangladesh recorded one of the fastest growth rates
evsjv‡`k MZ K‡qK eQi a‡i we‡k¦i Ab¨Zg `ªæZZg cªe„w×i
in the world in the past few years with a stable
nvi AR©‡bi mv‡_ mv‡_ w¯’wZkxj A_©‰bwZK Kg©¶gZv eRvq
economic performance that has helped to reduce
†i‡L‡Q hv `vwi`ª¨ Ges GDP Growth Rate and Inflation Rate poverty and social
9.00
mvgvwRK ˆelg¨ n«vm Ki‡Z 8.00
inequalities. GDP
mvnvh¨ K‡i‡Q| 2019 mv‡j 7.00
growth was estimated
Rate in %

6.00
to have reached 7.9%
cÖv°wjZ wRwWwc cªe„w× wQj 5.00

4.00 in 2019 and is

7.9% hv †KvwfW-19 Gi 3.00
FY '16 FY '17 FY '18 FY '19 FY '20 forecasted to fall 2% in
cªv`yf©v‡ei Kvi‡Y 2020 2020 due to the
mv‡j 2% K‡g †h‡Z cv‡i Ges 2021 mv‡j 9.5% ch©šÍ DbœxZ outbreak of the COVID-19 and will pick up to 9.5% in
n‡e e‡j 14 Gwcªj 2020 Zvwi‡L AvB Gg Gd †_‡K c~e©vfvm 2021, according to the updated IMF forecasts at 14th

†`qv n‡q‡Q| wek¦e¨vcx gnvgvix-cieZ©x A_©‰bwZK cybiæ×vi April 2020. The post-pandemic global economic
recovery and the private consumption boosted by
Ges evsjv‡`kx cªevmx‡`i wewfbœ †`k †_‡K †cªwiZ †iwgU¨vÝ
strong remittance flows from the Bangladeshi
cªev‡ni Kvi‡b e¨w³MZ e¨q e„w× 2021 mv‡j cªew„ ×i g~j PvwjKv
Diaspora around the world are expected to be the key
kw³ n‡e e‡j Avkv Kiv n‡”Q| drivers of growth in 2021.

104 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

2019 mv‡j GKwU gReyZ ivR¯^ bxwZgvjvi d‡j miKvwi †gvU In 2019, the government general gross debt remained

mvaviY FY Zyjbvg~jKfv‡e Kg wQj - hv wRwWwci cªvq 34.6 relatively low - at around 34.6% of GDP - as a result
of a tight fiscal policy. Nonetheless, the tax base is
kZvsk| Ki Qv‡oi Kvi‡Y msKxY© Ki bxwZi
narrow owing to a number of
cÖfve miKvwi ivR‡¯^ c‡o‡Q| Abygvb Kiv exemptions, weighing on public

36037
33,493

32,943

32,717
n‡q‡Q wRwWwc‡Z miKv‡ii FY AbycvZ

30,168
revenue. Public debt ratio to GDP is
2021 mv‡ji g‡a¨ 35.9% G DbœxZ n‡e | consequently anticipated to increase
to 35.9% by 2021. A new VAT law was
Ki Avq e„w×i cÖqv‡m 2019-20 A_©eQ‡ii

11.02
introduced at the start of the fiscal year
20.55
ïiæ‡Z GKwU bZyb f¨vU AvBb Pvjy Kiv

10.75
(1.64)

(0.69)
2019-20 in an attempt to increase tax
n‡qwQj; Z‡e Gi cÖfve cªeZ©‡bi ci †_‡KB 2015-16
income; however, its impact has been
2016-17

2017-18

2018-19

2019-20
mxgve× i‡q‡Q| RvZxq ivR¯^ †evW©-Gi Z_¨ limited since the launch. VAT collection
Abymv‡i, RyjvB-A‡±vei 2019 mv‡j f¨vU grew only by 1.8% in July-October
Forex Reserve Growth
(US$ mn) Rate (%)
2019, the slowest growth rate in
msMªn †KejgvÎ 1.8% e„w× †c‡q‡Q hv
Forex Reserve & growth rate
recent years, according to the
mv¤cÖwZK eQi¸wj‡Z me‡P‡q axi MwZi
National Board of Revenue. Financial
e„w×i nvi| bb-cvidwg©s F‡Yi wekvj Ask situation of the banking sector remains weak due to a
Ges cybM©wVZ FY e„w×i Kvi‡Y e¨vswKs Lv‡Zi Avw_©K cwiw¯’wZ large share of non-performing loans and an increase
`ye©j| 2019 mv‡j g~j¨ùxwZ ¯^í cwigv‡Y e„w× †c‡q 5.7% G in restructured loans. Inflation moderated to 5.7% in
2019 and is expected to remain stable in 2020 (5.5%)
`uvwo‡q‡Q Ges KwfW-19 gnvgvix m‡Ë¡I, 2020-G 5.5% Ges
and in 2021 (5.6%), despite the COVID-19 pandemic.
2021-G 5.6% kZvs‡k w¯’wZkxj _vK‡e Bangladesh is one of the most
e‡j Avkv Kiv n‡”Q| Rjevqy cwieZ©‡bi vulnerable countries in the world to
†¶‡Î evsjv‡`k we‡k¦i Ab¨Zg Sywu Kc~Y© GKwU 7.86
8.13
climate change, with extreme weather
7.11 7.28
†`k| Rjevqy cwieZ©bRwbZ Kvi‡Y weMZ events estimated to have caused a loss
5.24
of around 1.8% of GDP in the past few
K‡qK `k‡K wRwWwci cªvq 1.8% ÿwZ
decades. The country has taken
n‡q‡Q e‡j Abygvb Kiv n‡q‡Q| meyR A_©vqb
12.30
18.42

19.43

17.19

15.76

measures to promote green financing

cÖPv‡i G †`k wewfbœ c`‡ÿc wb‡q‡Q Ges and is seeking grants from the
2015-16

2016-17

2017-18

2018-19

2014-15

AvšÍR©vwZK m¤cÖ`v‡qi KvQ †_‡K Aby`vb international community.

AvnŸvb Ki‡Q | Market Cap. to GDP growth

The official unemployment rate
GDP ratio (%) rate (%)
according to the latest survey of
evsjv‡`k cwimsL¨vb ey¨‡ivi (weweGm)
GDP Growth rate & M.Cap to GDP ratio Bangladesh Bureau of Statistics (BBS)
me©‡kl Rwic Abymv‡i †eKvi‡Z¡i nvi 2016-
was 4.2% during 2016-2018, but this
2018 mv‡j 4.2% wQj, Z‡e hye †eKvi‡Z¡i rate has increased more than double
Kvi‡Y GB nvi wظ‡Yi †P‡q †e‡o 10.6%-G `vuwo‡q‡Q| AviI upto 10.6% in case of youth unemployment rate. More
¸iæZ¡c~Y© welq, evsjv‡`‡ki 29.8% ZiæY wk¶v, Kg©ms¯’vb ev importantly, 29.8% of young people in Bangladesh are
not involved in education, employment or training.
cªwk¶‡Y RwoZ bq| Ab¨vb¨ mvgvwRK welq¸‡jvi g‡a¨ wbZ¨
Other social issues include constant social strikes,
mvgvwRK ag©NU, mš¿vmev`, g~ja‡b RbM‡bi mxwgZ my‡hvM-
terrorist threats, limited access to capital by the
myweav Ges fvi‡Zi mv‡_ wZ¯Ív b`xi cvwb e›Ub wb‡q we‡iva population, and disputes over Teesta River water
AšÍf©y³ i‡q‡Q| Rjevqy cwieZ©bI evsjv‡`‡ki Rb¨ gvivZ¥K distribution with India. Climate change also poses a
ûgwKi KviY n‡q `vuwo‡q‡Q| serious threat to Bangladesh.

DSE ANNUAL REPORT n­2019-20

105
 A_©bxwZi cÖavb LvZmg~n Major Sectors of Economy

†`‡ki A_©bxwZ Zvi wekvj gvbe m¤ú`, De©i K…wlRwg Ges The Country’s economy relies on its enormous
human resources, rich agricultural soils and
wekvj Rjm¤ú‡`i Dci wbf©ikxj| wRwWwc‡Z K…wl Lv‡Zi
abundant water resources. Agriculture represents
Ae`vb 13.1% Ges †gvU Rbe‡ji 39.7% GB Lv‡Z 13.1% of GDP and employs 39.7% of the total
wbhy³| cªavb dm‡ji g‡a¨ i‡q‡Q Pvj, Pv, cvU, Mg, AvL, workforce. Main crops include rice, tea, jute, wheat,
ZvgvK, gkjv Ges dj| evsjv‡`k we‡k¦i PZy_© e„nËg Pvj sugarcane, tobacco, spices, and fruits. Bangladesh is
Drcv`bKvix †`k, hw`I cªvK„wZK `y‡h©v‡Mi Kvi‡Y gv‡S g‡a¨ the world's fourth biggest rice producer, although
shortages caused by natural disasters occasionally
Pvj Avg`vwb Ki‡Z nq|
force the country to import rice.
wRwWwc‡Z wkíLv‡Zi Ae`vb 28.5% Ges †gvU Rbe‡ji
Industry represents 28.5% of GDP and employs
20.5% GB Lv‡Z wbhy³| †U·UvBj GLb ch©šÍ †`‡ki e„nËg 20.5% of the total workforce. Textile is by far the
wkí| †`‡ki †gvU idZvwb Av‡qi 80%-GiI †ewk Av‡m largest industry, accounting for more than 80% of the
GB LvZ †_‡K| †U·UvBj idZvwb Avq GK eQi Av‡M GKB country's total exports. Textile export income fell to
USD 30.1 billion in January-November 2019 from
mg‡q 32.9 wewjqb gvwK©b Wjvi †_‡K K‡g Rvbyqvwi-b‡f¤^i
USD 32.9 billion at the same time a year earlier
2019-G 30.1 wewjqb gvwK©b Wjvi n‡q‡Q (evsjv‡`k
(Bangladesh Export Promotion Bureau). A risk factor
idZvwb Dbœqb ey¨‡iv)| †cvkvK wk‡íi SyuwKc~Y© welq n‡jv in the clothing industry is the gap between local
Zzjvi ¯’vbxq mieivn Ges Pvwn`vi g‡a¨ e¨eavb| gva¨wgK supply and demand of cotton. Secondary industries
wkí¸wji g‡a¨ KvMR, Pvgov, mvi, avZy Ges Jla AšÍf©y³ include paper, leather, fertilizers, metals, and
pharmaceuticals.
i‡q‡Q|
Service sector accounts for 53.5% of GDP and
wRwWwc‡Z †mev Lv‡Zi Ae`vb 53.5% Ges †gvU Rbe‡ji
employ 39.8% of the total workforce. Microfinance
39.8% GB Lv‡Z wbhy³| †`‡ki cªhyw³ idZvwb cªwZ eQi and computing are among the largest sectors, with
cªvq 1 wewjqb Wjvi hvi g‡a¨ gvB‡µvwdbvÝ Ges Kw¤úDwUs the country's technology exports reaching around
LvZ Ab¨Zg| miKv‡ii jÿ¨ 2021 mv‡ji g‡a¨ cªhyw³i USD 1 billion per year. The government aims to

idZvwb 5 wewjqb gvwK©b Wjv‡i DbœxZ Kiv| increase technology exports to USD 5 billion by 2021.

Capital Market and the Economic

cyuwRevRvi I evsjv‡`‡ki A_©‰bwZK Dbœqb Development of Bangladesh
A_©‰bwZK Dbœq‡bi Rb¨ GKwU wbivc` Ges my`„p Avw_©K Economic development requires a safe and sound
financial system to act as a transmission mechanism
e¨e¯’v cª‡qvRb hv GKwU mÂvjb e¨e¯’v wnmv‡e mÂqKvwii
to make fund transfer from savers to entrepreneurs
wbKU †_‡K g~jab mÜvbKvix Drcv`bkxj D‡`¨v³v‡`i seeking capital for productive investments. Businesses
Znwe‡j ¯’vbvšÍi K‡i| cieZ©x‡Z e¨vemvwqK weKvk, bZyb in turn use the capital to grow, generate new ideas,
aviYv ˆZwi Ges bZyb cªhyw³ Qwo‡q w`‡Z H g~jab e¨envi and spread novel technologies. As a result,
productivity improves and the overall economy
Kiv nq| dj¯^iƒc, Drcv`b e„w× cvq Ges mvgwMªK A_©bxwZ
benefits. The capital market today is a reality met in
DcK…Z nq| eZ©gvb cywu RevRvi AvaywbK A_©bxwZi ev¯Íe iƒc| any modern economy. In this sense, it is a market the
GB A‡_© cywu RevRvi A_©‰bwZK cwi‡e‡ki mv‡_ ¯’vqxfv‡e Lvc necessity of which is unchallengeable, an extremely
dynamic and innovative structure, permanently
LvIqv‡Z mÿg Ggb GKwU MwZkxj I Awfbe AeKvVv‡gv
adapting to the economic environment. The capital

106 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

m¤^wjZ evRvi hvi cÖ‡qvRbxqZv Ab¯^xKvh©| cyuwRevRvi‡K market is considered as the replica of national
economy.
RvZxq A_©bxwZi cªwZiƒc wnmv‡e we‡ePbv Kiv nq|
Capital markets have a huge role to play in the
†`‡ki A_©‰bwZK Dbœq‡b cywu RevRv‡ii wekvj f~wgKv i‡q‡Q| economic development of the country. Bangladesh’s
Av‡Mi `yB eQ‡i †bwZevPK Kvh©µg Ges †KvwfW-19 gnvgvix capital market, however, has greatly lost the
msK‡Ui Kvi‡Y evsjv‡`‡ki cyuwRevRvi wewb‡qvMKvix‡`i confidence of its investors due to negative
performance in the previous two years in association
Av¯’v e¨vcKfv‡e nvivq| RvZxq A_©‰bwZK Dbœqb Z¡ivwš^Z
with the COVID-19 pandemic crisis. However, the
Ki‡Z cyuwRevRv‡ii GB wewb‡qvMKvix‡`i Av‡Mi Zyjbvq country’s capital market needs these investors now
GLb AviI †ewk cª‡qvRb| bxwZ-wba©viKMY, we‡klZt more than ever in order to revitalize the nation’s
evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb (weGmBwm) economic recovery. Policymakers, in particular, the
Bangladesh Securities and Exchange Commission
†`‡ki cyuwRevRv‡i wewb‡qvMKvix‡`i Av¯’v wdwi‡q Avb‡Z
(BSEC) have been playing the crucial role in bringing
¸iæZ¡c~Y© f~wgKv cvjb K‡i Avm‡Q| wewb‡qvMKvixiv GLb investor’s confidence in capital market of the country.
AvZ¥wek¦vmx Ges fvj gv‡bi e¨emvq wewb‡qv‡Mi Rb¨ Investors are now self confident and inspired to invest
Abycvª wYZ hv mvgwMªKfv‡e †`‡ki A_©‰bwZK Dbœq‡b mnvqK| in good quality businesses to improve the nation’s
economy as a whole.
cyuwRevRvi RvZxq A_©bxwZi `c©Y †hLv‡b †QvU-eo mKj
Capital market is the mirror of national economy
†Kv¤úvwbi Kvh©µg A‡bK †ewk ¸iæZ¡c~Y©| †Kv¤úvwb¸‡jvi where all the companies’ performance, large or
AZxZ AjvfRbK Kvh©µg eZ©gv‡b Av¯’vi msKU ˆZwi K‡i| small, matters the most. Declining performance of the
evRv‡i MwZ evov‡Z e„nËg cÖwZôvb¸‡jvi ZvwjKvfyw³, evRvi companies in the past is creating lack of confidence
at present. Listing of large corporations to have
m¤ú‡K© wewb‡qvMKvix‡`i Ávb I m‡PZbZv Ges mykvm‡bi
momentum in the market, proper market knowledge
ev¯Íevqb, wewb‡qvMKvix‡`i Av¯’v †div‡Z mnvqK| Gm‡ei and awareness among investors and implementation
mxgve×Zv cyuwRevRvi weKv‡k evav n‡Z cv‡i| G‡¶‡Î of proper corporate governance are contributing
evsjv‡`‡ki cywu RevRvi †`‡ki A_©‰bwZK cªew„ ׇZ †h cwigvY factors for the revival of the confidence of the
investors. Absence of these can impose restriction on
Ae`vb ivLv Avek¨K Zv ivL‡Z cvi‡Q bv| AvÂwjK ch©v‡qi
the development of capital market.It is a matter of
cyuwRevRvi¸‡jvi g‡a¨ evsjv‡`‡ki cyuwRevRv‡ii g~jab I
great regret that Bangladesh’s capital market has
wRwWwc AbycvZ me‡P‡q Kg| eQ‡ii ci eQi a‡i g~jab I failed to keep up with the country’s economic growth.
wRwWwc AbycvZ n«vm, evRv‡i eo †Kv¤úvwbi ZvwjKvfyw³ bv Among its regional peers, the market capitalization-
to-GDP ratio is the lowest. The ratio has been
nIqv n‡”Q Gi Ab¨Zg KviY| dj¯^iƒc, †h‡nZy eo
decreasing over the years suggesting a lack of listing
†Kv¤úvwb¸wji wbqwgZ jf¨vsk Ges Kzcb cª`v‡bi m¤¢vebv
of large corporations in the market. Consequently,
†ewk _vKvq wewb‡qvMKvixiv †`‡ki cyuwRevRv‡i wewb‡qv‡Mi investors are losing urge to invest in the country’s
AvMªn nviv‡”Qb| capital market as large corporations are more likely
to provide regular dividends and coupon payments.
evsjv‡`‡ki A_©‰bwZK Dbœqb cyuwRevRv‡ii Kv‡Q FYx|
The economic development of Bangladesh is owed
Gw`‡K e¨vsK¸‡jv evsjv‡`‡ki A_©‰bwZK Kvh©µ‡gi A_©vq‡b
to its capital market. Banks play dominant roles in
cÖfvekvjx f~wgKv cvjb K‡i _v‡K| Z‡e, e¨vsK¸‡jv D”P financing economic activities in Bangladesh.
bb-cvidiwgs †jvb Ges Znwej g¨vPzwiwUi Mowg‡ji SyuwKi However, banks are not in a position to finance a
long term productive investment activities
Kvi‡b avivevwnKfv‡e `xN©‡gqv`x Drcv`bkxj wewb‡qv‡M
continuously following higher level of non-performing
A_©vqb Ki‡Z cv‡i bv| GgZve¯’vq, evsjv‡`k‡K
loan and risk of maturity mismatch of funds. Given
Drcv`bkxj wewb‡qvM Ges AeKvVv‡gvMZ cªK‡í A_©vq‡bi this, Bangladesh needs to undertake measures to

DSE ANNUAL REPORT n­2019-20

107
 Rb¨ cyuwRevRvi m¤cÖmvi‡Yi e¨e¯’v MªnY Kiv `iKvi| Z‡e expand capital market for financing productive
investments and infrastructural projects. But the
`w¶Y Gkxq Ges `w¶Y-c~e© Gkxq †`k¸wji Zyjbvq
capital market in Bangladesh is still lagging behind
evsjv‡`‡ki cyuwRevRvi GLbI wcwQ‡q i‡q‡Q| G j‡¶¨
as compared to those of South Asian and South-east
cywu RevRvi‡K mg„× K‡i †Zvjv Ges we‡`wk wewb‡qvMKvix‡`i Asian countries. To this end, regulator of capital
AskMÖnY evov‡Z wewfbœ `xN© I ¯^í‡gqv`x e¨e¯’v Mªn‡Yi market BSEC, following the guidelines of Prime
Minister who has ordered to take various long and
wel‡q cyuwRevRv‡ii wbqš¿K ms¯’v weGmBwm cªavbgš¿xi
short-term measures to make the capital market
w`K&wb‡`©kbv AbymiY K‡i wKQy ev¯Íeev`x c`‡¶c MªnY K‡i‡Q
vibrant, has undertaken some pragmatic steps to
hvi g‡a¨ i‡q‡Q mykvmb wbwðZ K‡i fv‡jv †Kv¤úvwb‡K ensure good corporate governance to motivate good
AvKl©Yxq cÖ‡Yv`bvmn wewfbœ AvBwb myweav w`‡q Zv‡`i eÛ I companies for floating bonds, shares and continue
legal facilitation with more attractive incentives,
†kqvi cyuwRevRv‡i wb‡q Avmv|
especially for the foreign participants.
†kqvi evRv‡ii MwZkxjZv, A_©bxwZ Ges e¨w³‡kÖYxi
Movements in the stock market can have a profound
†fv³v‡`i Dci Mfxi A_©‰bwZK cªfve †dj‡Z cv‡i| economic impact on the economy and individual
†kqv‡ii g~j¨ aŸ‡mi d‡j e¨vcK A_©‰bwZK wech©q NU‡Z consumers. A collapse in share prices has the
potential to cause widespread economic disruption.
cv‡i| †kqvi evRv‡i cªwZw`‡bi MwZgqZv A_©bxwZ‡Z
Daily movements in the stock market can also have
Avgv‡`i KíbvZxZ cªfve †dj‡Z cv‡i| Z‡e †kqvievRviB
impact on the economy than we might imagine.
Avmj A_©bxwZ bq| †kqv‡ii `vg n«vm gv‡b GB bv †h cy‡iv However, the stock market is not the real economy.
A_©bxwZi cÖe„w× wb¤œMvgx| Avmj K_v n‡”Q, †kqv‡ii `ªæZ Share prices fall do not directly represents the lower
g~j¨ n«vm A_©bxwZi Ae¯’v AZ¨šÍ Lvivc GUv †hgb †evSvq growth of an economy as a whole. The point is a
rapid fall in share prices, doesn’t necessarily mean
bv, wVK †Zgwb A_©bxwZ‡Z †kqv‡ii g~j¨ n«v‡mi †KvbI
the economy is doing badly but it also cannot be said
cªfveB †bB GwUI ejv hvq bv| e¨vcK g~j¨ n«vm RbM‡Yi that there is no effect of price fall of share on
e¨‡qi aiY, Zv‡`i Znwej Ges AvZ¥wek¦v‡mi Dci Ggb economy. Huge price fall can have impact on
cªfve †d‡j †h, Zv †kl ch©šÍ A_©‰bwZK cªe„wׇK e¨vnZ people’s spending pattern, people’s fund and
confidence that ultimately lead to slower economic
K‡i|
growth.
†kqvievRvi †_‡K mwZ¨Kvi myweav cvIqvi Rb¨ †jb‡`‡bi To get the ultimate benefit from the stock market
wWwRUvjvB‡Rkb, wewb‡qvMKvix‡`i Av¯’v †div‡Z we‡`wk some measures like digitalization of transactions,
wewb‡qvMKvix‡`i DØy×KiY, avivevwnK †jb‡`‡bi Rb¨ luring foreign investors to retrieve investor
confidence, adoption of widespread electronic
e¨vcKfv‡e B‡j±ªwbK †jb‡`b cÖPjb, we‡`wk
trading for continuous transaction, bringing in foreign
wewb‡qvMKvix‡`i wdwi‡q Avbv Ges GKwU cªvYešÍ eÛ evRvi investors back and development of a vibrant bond
m¤úªmvi‡Yi wel‡q me©m¤§Zfv‡e D‡`¨vM MªnY Kiv DwPZ| market should be unanimously taken.

evRvi-wPÎ 2019-20 Market Scenerio 2019-20

The 2019-20 fiscal year made its exit as a
2019-20 A_©eQ‡ii wb¯ŒgY cyuwRevRv‡ii BwZnv‡m GKwU
memorable year for capital market. The first half of
¯§iYxq eQi wn‡m‡e cwiMwYZ n‡e| we`vqx A_©eQ‡ii ïiæ
the outgoing year witnessed instability and lack of
†_‡KB evRv‡ii Aw¯’wZkxjZv Ges wewb‡qvMKvix‡`i
confidence among the investors. A new Board of
Av¯’vnxbZvi gv‡SB A_©eQ‡ii cª_gva© †kl nq| Avi Directors of DSE, consisting different experienced and

108 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

A_©eQ‡ii wØZxqv‡a© GK msKUgq mg‡q wewfbœ †m±i †_‡K successful persons was formed in the second half to

AvMZ eûg~Lx AwfÁZv m¤úbœ mdj e¨w³e‡M©i mgš^‡q MwVZ stave off the crisis. After assuming the office by the
newly-formed Board of Directors, the Coronavirus
nq wWGmBÕi cwiPvjbv cl©`| beMwVZ cwiPvjbv cl©` `vwqZ¡
pandemic began its havoc. The whole world was
Mªn‡Yi ci ciB ïiæ nq †`‡k K‡ivbvfvBiv‡mi cªv`yf©ve| G
devastated by the deadly pandemic which invited
gnvgvix‡Z mviv wek¦ UvjgvUvj n‡q c‡o| wbR wbR †`‡ki
lockdown and restricted movement of both public
¯^v¯’¨Sywu K Gov‡Z †`‡k †`‡k P‡j Aeiæ× Ae¯’v ev jKWvDb| and goods to avoid health risk in the countries.
evsjv‡`kI G Ae¯’v †_‡K wb®‹…wZ cvqwb| †`‡ki Bangladesh was not spared from this grave crisis for
K‡ivbvfvBivm cwiw¯’wZ †gvKv‡ejvi Ask wn‡m‡e miKvi 26 which the Government announced general holidays
gvP© 2020 †_‡K 30 †g 2020 ZvwiL ch©šÍ `dvq `dvq phase by phase from March 26, 2020 to May 30,
mvaviY QywU †NvlYv K‡i| miKv‡ii GB wm×v‡šÍi mv‡_ m½wZ 2020. DSE also remained closed in line with the

†i‡L XvKv ÷K G·‡PÄ wjwg‡UWI eÜ _v‡K| d‡j Government decision during the period. A good
number of on-going development processes of the
cyuwRevRv‡ii †ek wKQy Pjgvb Dbœqb cªwµqvi Kvh©µg _g‡K
capital market were affected due to such prolonged
hvq, mv‡_ cyuwRevRv‡ii mvgwMªK wPÎI cv‡ë hvq| GgbB
closure which also altered the overall scenario of the
GK Aw¯’wZkxj cwiw¯’wZ‡Z wbqš¿K ms¯’v evsjv‡`k
stock market. In such a situation, highly skilled
wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡b `¶Zv Ges Ki‡cv‡iU professionals were appointed in the top positions of
RM‡Zi eûg~Lx †ckv`vi AwfÁZv m¤úbœ e¨w³eM©‡K, the BSEC. After remaining closed for 66 days, the
†Pqvig¨vb I Kwgkbvi wn‡m‡e wb‡qvM †`qv nq| GKUvbv 66 government on July 31, 2020 re-opened the offices
w`b eÜ _vKvi ci †`‡ki `ªæZ weKvkgvb A_©bxwZ‡K MwZkxj and industrial entities in limited phases ordering to
Kivi Rb¨ miKvi ¯^v¯’¨wewa †g‡b mxwgZ AvKv‡i Awdm I be very compliant with the health rules. The

wkí KjKviLvbv 31 †g 2020 ZvwiL †_‡K cybivq Pvjy K‡i| government took the decision to keep the fast
growing economy alive. The transaction in stock
Ab¨vb¨ Lv‡Zi g‡Zv ¯^v¯’¨wewa †g‡b cyuwRevRv‡iI †jb‡`b
market also began like other sectors keeping in mind
ïiæ nq| †jb‡`b ïiæ n‡jI wewb‡qvMKvix‡`i AskMªnY K‡g
the health hazards. However, the turnover hit the 7-
hvIqvq †jb‡`‡bi cwigvYI weMZ 7 eQ‡ii g‡a¨ me©wbgœ
year low as number of investors was very thin. Later,
ch©v‡q †cŠu‡Q| evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ due to some positive steps taken by the BSEC, the
Kwgk‡bi †ek wKQy BwZevPK c`‡¶‡c cieZ©x A_©eQ‡ii market became buoyant at the very beginning of the
(2020-21) ïiæ †_‡KB evRvi MwZgq n‡q D‡V| XvKv ÷K new fiscal year 2020-2021. DSE is also working to
G·‡PÄI evRv‡ii MwZ Ae¨vnZ †i‡L †UªwWs‡q ˆewPΨ continue the dynamism through bringing
Avbq‡bi j‡ÿ¨ Aëvi‡bwUf †UªwWs †evW©, GmGgB, wd·W diversification in the trading on launching some tools

BbKvg wmwKDwiwUR (†UªRvwi eÛ, †UªRvwi wej, Ki‡cv‡iU including Alternative Trading Board, SME, Fixed
Income Securities (treasury bond, treasury bill and
eÛ) wb‡q wbijm KvR Ki‡Q| beMwVZ cl©` wWGmBÕi
corporate bond). The newly formed Board of
mvgwMÖK Dbœq‡bi Rb¨ bvbvwea Kvh©µg nv‡Z †bq, †hgb
Directors has initiated various tasks like establishment
wWRv÷vi wiKfvwi wm‡÷g ¯’vcb, AvBwU AwWU cÖPjb Ges
of Disaster Recovery System, introduction of IT Audit
wcÖ-I‡cwbs I †cv÷-†K¬vwRs Kvh©µg Pvjy KiY| m¤úªwZ and launching of Pre-opening and Post-closing
†m›Uªvj KvD›UvicvwU© evsjv‡`k wjwg‡UW (wmwmweGj) bv‡g sessions. Recently the board of directors of a new
GKwU †Kv¤úvwb MwVZ I wbewÜZ nIqvq Gi cwiPvjbv cl©`I company-Central Counterparty Bangladesh Ltd-was
MwVZ n‡q‡Q Ges Lye kxNªB Gi Kvh©µg ïiæ n‡e| elected and it will begin its operation very soon.

DSE ANNUAL REPORT n­2019-20

109
 cÖv_wgK MYcÖ¯Íve (AvBwcI) Initial Public Offiering (IPO)

2019-20 A_©eQ‡i wkí D‡`¨v³viv evRvi †_‡K 1wU K‡c©v‡iU In FY 2019-20, the entrepreneurs have collected

eÛ mn †gvU 4wU wmwKDwiwUR-Gi cÖv_wgK MYcÖ¯Íve ev capital of BDT 3,330.79 mn through IPO of 4 (four)

AvBwcIÕi gva¨‡g †gvU securities including 01

(one) Corporate Bond,
3,330.79 wgwjqb UvKv IPO & Listing during last 4 years

among them 1 (one)

g~jab msMÖn K‡i| Gi 2019-20
company raised BDT
g‡a¨ 1wU †Kv¤úvwb 2018-19
372.08 mn as
wcÖwgqvg eve` 372.08 2017-18
premium. On the
wgwjqb UvKv g~jab 2016-17
other hand, in FY
D‡Ëvjb K‡i| Aciw`‡K 0 2 4 6 8 10 12 14 16

FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 2 0 1 8 - 1 9 ,

2018-19 A_©eQ‡i 1wU IPO 9 11 14 3
Listing 9 9 14 5 entrepreneurs
wgDPz¨qvj dvÛmn †gvU
collected capital of
14wU wmwKDwiwUR-Gi cÖv_wgK MYcÖ¯vÍ e ev AvBwcIÕi gva¨‡g BDT 5,710 mn through IPO of 14 (fourteen) securities
†gvU 5,710 wgwjqb UvKv g~jab msMÖn K‡i| Gi g‡a¨ 2wU including 01 (one) mutual fund, among them 02
†Kv¤úvwb wcÖwgqvg eve` 2,011.74 wgwjqb UvKv g~jab (two) companies raised BDT 2,011.74 mn as
D‡Ëvjb K‡i| premium.

ZvwjKvfyw³ Listing

2019-20 A_©eQ‡i 1wU eÛ mn †gvU 4wU wmwKDwiwUR In FY 2019-20, a total of 4 securities including one
12,212.06 wgwjqb UvKv cwi‡kvwaZ g~jab wb‡q wWGmB‡Z bond became listed in DSE with a paid up capital of

ZvwjKvfy³ nq| Aciw`‡K 2018-19 A_©eQ‡i 1wU wgDPz¨qvj BDT 12,212.06 mn and in the previous fiscal year a
total of 14 securities including one mutual funds
dvÛmn †gvU 14wU wmwKDwiwUR 17,562.79 wgwjqb UvKv
became listed in DSE with a paid up capital of BDT
cwi‡kvwaZ g~jab wb‡q wWGmB‡Z ZvwjKvfy³ nq|
17,562.79 mn.

ivBU †kqvi Bmÿ

Right Issue
2019-20 A_©eQ‡i 2wU †Kv¤úvwb 207.70 wgwjqb ivBU
In FY 2019-20, two (02) companies declared to
†kqvi Bmy¨i gva¨‡g †gvU 2,313 wgwjqb UvKv g~jab msMÖn
collect the capital of BDT 2,313 mn through issuing
K‡i| Gi g‡a¨ 1wU †Kv¤úvwb wcÖwgqvg eve` 230 wgwjqb
a total of 207.70 mn right share. One (01) company
UvKv g~jab D‡Ëvjb K‡i|
raised capital of BDT 230 mn as premium.

†evbvm †kqvi Bmÿi gva¨‡g g~jab e„w×

Capital enhancement through Bonus Share
XvKv ÷K G·‡PÄ wjt G ZvwjKvfy³ †Kv¤úvwbmg~‡ni g‡a¨
Among the listed companies of DSE, in FY 2019-20,
2019-20 A_©eQ‡i e¨vswKs Lv‡Zi 9 wU, Avw_©K Lv‡Zi 5 wU, a total of 95 companies collected BDT 18,316.45 mn
cÖ‡KŠkj Lv‡Zi 15 wU, Lv`¨ I Avbylw½K Lv‡Zi 4 wU, R¡vjvbx through issuing 1,831.65 mn bonus share. Of those

110 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

I we`y¨r Lv‡Zi 4 wU, †U·UvBj Lv‡Zi 24 wU, Jla I imvqb companies 9 companies were from banking sector, 5

Lv‡Zi 11 wU, mvwf©m GÛ wi‡qj G‡÷U Lv‡Zi 3 wU, wm‡g›U from financial sector, 15 from engineering sector, 4
from food and beverage sector, 4 from fuel & power
Lv‡Zi 3 wU, AvBwU Lv‡Zi 5 wU, U¨vbvix Lv‡Zi 1 wU, BÝy¨‡iÝ
sector, 24 from textile sector, 11 from Pharmaceuticals
Lv‡Zi 7 wU Ges wewea Lv‡Zi 3 wU mn †gvU 95 wU †Kv¤úvwb
& Chemicals, 03 from Services & Real Estate, 03 from
1,831.65 wgwjqb †evbvm †kqvi Bmy¨i gva¨‡g 18,316.45
cement sector, 05 from IT, 01 from tannery, 07 from
wgwjqb UvKv g~jab e„w× K‡i| Aciw`‡K 2018-19 A_©eQ‡i insurance and 03 from miscellaneous. On the other
†gvU 152 wU †Kv¤úvwb 3,305.10 wgwjqb †evbvm †kqvi Bmy¨i hand, in FY 2018-19, total 152 companies raised
gva¨‡g 35,576 wgwjqb UvKv g~jab e„w× K‡i| capital of BDT 35,576 mn by issuing 3,305.10 mn
bonus share.

ZvwjKvfy³ wmwKDwiwUR mg~‡ni Kvh©µg

Activities of listed Securities
2019-20 A_©eQ‡i 240 wU †Kv¤úvwbi evwl©K mvaviY mfv
In FY2019-20, Annual General Meetings of 240
AbywôZ nq| Gi g‡a¨ 214 wU †Kv¤úvwb 1 kZvsk †_‡K 650
companies were held - among them 214 companies
kZvsk ch©šÍ bM` jf¨vsk †NvlYv K‡i‡Q| Av‡Mi eQi 2018-
declared dividend from 1% to 650%. In the previous
19 A_©eQ‡i 269wU †Kv¤úvwb Zv‡`i evwl©K mvaviY mfv m¤úbœ
year FY2018-19, Annual General Meetings of 269
K‡i Ges Zv‡`i g‡a¨ 180wU †Kv¤úvwb 2 kZvsk †_‡K 775
companies were held - among them 180 companies
kZvsk bM` jf¨vsk †NvlYv K‡i|
declared cash dividend from 2% to 775%.

Uvb©Ifvi - g~j¨ Turnover - Value

2019-20 A_©eQ‡i †KvwfW- Total Turnover Value In the year 2019-20, the
250,000
19-Gi Kvi‡Y Uvbv 66 w`b total trade of Dhaka
200,000
Stock Exchange Limited
cyuwRevRv‡ii †jb‡`b eÜ 150,000
stood at BDT
_vKvq XvKv ÷K G·‡P‡Ä 100,000
780,243.78 million due
50,000
†gvU †jb‡`‡bi cwigvY to the closure of the
-
Mar
Nov
Oct

Apr
Aug

May
Dec

Jan
Jul

Jun
Feb
Sep

`vuovq 780,243.78 wgwjqb capital market for sixty

FY '2019 FY '2020 six consecutive days for
UvKv, hv MZ A_©eQ‡ii
Covid 19, which is marking a decrease of BDT
Zyjbvq 681,686 wgwjqb UvKv ev 46.63 kZvsk Kg|
681,686 million or 46.63% less than that of last year.
2019-20 A_©eQ‡i 203 Kvh©w`e‡m M‡o †jb‡`b nq In 203 working days of the FY 2019-20 the average
3,816.19 wgwjqb UvKv, hv 6 eQ‡ii g‡a¨ me©wb¤œ| Aciw`‡K turnover was BDT 3816.19 mn which was the lowest

2018-19 A_©eQ‡i 238 Kvh©w`e‡m †gvU †jb‡`‡bi cwigvY in last 6 years. On the other hand in 238 working
days of the FY 2018-19, total turnover was BDT
wQj 1,461,930 wgwjqb UvKv Ges M‡o †jb‡`‡bi cwigvY
1,461,930 million while the average trade was BDT
wQj 6142.56 wgwjqb UvKv| 6142.56 million.

DSE ANNUAL REPORT n­2019-20

111
 wWGmBÕi g~j¨ m~PKmg~n: DSE Indices

wWGmB eªW Bb‡W· DSE Broad Index (DSEX)

(wWGmBG·)
In FY 2019-20, DSE Broad
XvKv ÷K G·‡P‡Äi cÖavb m~PK DSE Broad Index (DSEX)
wWGmB eªW Bb‡W· 6,000
Index (DSEX) or the

(wWGmBG·) Av‡Mi A_©eQ‡ii 5,500

benchmark index has
5,000
†P‡q 1,432.53 c‡q›U ev decreased by 1432.53 point
4,500
26.42 kZvsk nªvm †c‡q 2019- 4,000
or 26.42% than that of the last
20 A_©eQ‡ii †k‡l 3,989.09 3,500
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
c‡q‡›U `vuovq| 2019-20 FY '2020 FY '2019
FY 2018-19 to reach at
A_©eQ‡i wWGmBG· g~j¨ m~PK 3989.09 point. In 2019-20
m‡e©v”P 5,384.93 c‡q‡›U DbœxZ
the highest point of DSE
nq Ges me©wbgœ wQj 3,603.95
c‡q›U| Broad Index (DSEX) was

5384.93 and the lowest point

was 3603.95.
wWGmB 30 m~PK (wWGm30)

wWGmB 30 m~PK (wWGm30) DSE 30 Index (DS30)

2,100
588.11 c‡q›U ev 30.49 2,000 DSE30 Index (DS30)
1,900

kZvsk nªvm †c‡q 1340.98 1,800

1,700 DSE30 index stood at
1,600
c‡q‡›U `vuovq| 2019-20 1,500
1340.98 point, which is
1,400
A_©eQ‡i wWGm30 g~j¨ m~PK 1,300
1,200 making a decrease of
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
m‡e©v”P 1,912.58 c‡q‡›U DbœxZ FY '2020 FY '2019 588.11 point or 30.49%. In
nq Ges me©wbgœ wQj 1203.43 FY 2019-20, the highest
c‡q›U| point of DSE 30 was
1912.58 and the lowest
point was 1203.43.
wWGmBG· kixqvn& m~PK
(wWGmBGm)

GKB eQi wWGmBG· kixqvn& DSE Shariah Index

m~PK (wWGmBGm) 319.61 (DSES)

c‡q›U ev 25.68 kZvsk nªvm DSES Index stood at 925.08

DSEX Shariah Index (DSES)
†c‡q 925.08 c‡q‡›U `vuovq| 1,500
point which is making a
1,200
2019-20 A_©eQ‡i 900 decrease of 319.61 point or
(wWGmBGm) g~j¨ m~PK m‡e©v”P 600
25.68%. In FY 2019-20, the
300
1,235.16 c‡q‡›U DbœxZ nq -
highest point of DSES was
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Ges me©wbgœ wQj 834.78 1235.16 and the lowest
FY '2020 FY '2019

c‡q›U| point was 834.78.

112 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

evRvi g~jab Market Capitalization

wWGmB evRvi g~jab Av‡Mi A_©eQ‡ii Zyjbvq 878.49 Market Capitalization of DSE has decreased by BDT
wewjqb UvKv ev 21.97 kZvsk nªvm †c‡q 3,119.67 wewjqb 878.49 billion i.e. 21.97% compare to last fiscal year
UvKvq `vuwo‡q‡Q| 2019-20 A_©eQ‡i evRvi g~jab m‡e©v”P and stood at BDT 3,119.67 billion. In 2019-20, the
3,980.80 wewjqb UvKvq DbœxZ nq Ges me©wbgœ wQj highest market cap was BDT 3,980.80 billion and the
2,873.83 wewjqb UvKv| lowest amount of market cap was BDT 2,873.83
billion.

gv‡K©U wcB
2019-20 A_©eQ‡ii †kl w`‡b XvKv ÷K G·‡PÄ wjt G Market P/E

ZvwjKvfy³ wmwKDwiwUR mg~‡ni cÖvBm-Uz-Avwb©sm †iwkI ev In the last trading day of FY 2019-20, the market P/E
gv‡K©U wcB `vuovq 10.78| Aciw`‡K 2018-19 A_©eQ‡ii †kl
of listed securities of DSE was 10.78 which was 14.25
w`‡b G AbycvZ ev gv‡K©U wcB wQj 14.25| 2019-20 A_©eQ‡i
in FY 2018-19. If we look at the sector-wise price
LvZIqvix cÖvBm-Uz-Avwb©sm †iwkI ev gv‡K©U wcB ch©v‡jvPbv
Ki‡j †`Lv hvq e¨vswKs Lv‡Zi gv‡K©U wcB 6.67, dz‡qj GÛ earnings ratio we can see that P/E of Banking sector

cvIqvi Lv‡Zi 9.51, †UwjKwgDwb‡Kkb Lv‡Zi 9.59, 6.67, Fuel & Power sector 9.51, Telecommunications
BwÄwbqvwis Lv‡Zi 10.09 Ges wgDPz¨qvj dv‡Ûi gv‡K©U wcB sector 9.59, Engineering sector 10.09 and Mutual
10.50| Funds 10.50.

gv‡K©U K¨vwcUvjvB‡Rkb UzwRwWwci AbycvZ Market Capitalization to GDP Ratio

XvKv ÷K G·‡PÄ wjt G 2019-20 A_©eQ‡ii Ryb †k‡l At the end of FY 2019-20, the ratio of DSE equity
gv‡K©U K¨vwcUvjvB‡Rkb Uz wRwWwci AbycvZ `vuovq 12.30 market cap to GDP stood at 12.30%, much lower
kZvsk, hv cvk¦©eZ©x †`k¸‡jvi Zyjbvq A‡bK Kg| †hgb than neighboring country. For example, we can say
_vBj¨v‡Û (GmBwU) gv‡K©U K¨vwcUvjvB‡Rkb Uy wRwWwci that the ratio of Market Capitalization to GDP of
AbycvZ 89.29 kZvsk, fvi‡Z (weGmB) 62.75 kZvsk, Thailand (SET) 89.29%, India (BSE) 62.75%, Pakistan
cvwK¯Ív‡b (†KGmB) Market Cap. USD bn

GDP* USD bn
(KSE) 16.15%,
16.15 kZvsk,
Market Cap. To GDP ratio (%)
15225 1400 Srilanka (CSE)
Market Cap. & GDP (US $ bn)

Market Cap. to GDP ratio (%)

14425
13625

kÖxjsKvq (wmGmB)
12825 1200
12025
11225 1000
14.92%, Tokyo
10425
9625

14.92 kZvsk, 8825

8025
7225
800
(SE) 109.89%,
6425 600

†UvwKI GmB-†Z
5625
4825
4025
3225
400 S i n g a p o r e
2425 200

109.89 kZvsk, 1625

825
25 0 E x c h a n g e
BSE India Limited

Bursa Malaysia

Colombo Stock Exchange

Hong Kong Exchanges

Indonesia Stock
Exchange

Philippine Stock
Exchange

Shanghai Stock
Exchange

Shenzhen Stock
Exchange

Singapore
Exchange

Taiwan Stock
Exchange

The Stock Exchange

Japan Exchange
Group Inc.
Dhaka Stock Exchange

and Clearing

of Thailand

wm½vcyi G·‡P‡Ä 1 6 1 . 4 9 % ,
161.49 kZvsk, Philippine Stock
wdwjcvBb GmB-†Z Exchange 61.95%
61.95 kZvsk Ges gvj‡qwkqvq (eyimv gvj‡qwkqv) 97.19 and Malaysia (Bursa Malaysia) 97.19%. The listing of
kZvsk| gv‡K©U K¨vwcUvjvB‡Rkb Uy wRwWwci AbycvZ e„w×i companies with good fundamental, Govt. owned
Rb¨ fv‡jv †gŠjwfwË m¤úbœ †Kv¤úvwbmn miKvwi gvwjKvbvaxb enterprises are essential for increasing Market
†Kv¤úvwbi ZvwjKvfzw³ evov‡bv Acwinvh©| Capitalization to GDP.

DSE ANNUAL REPORT n­2019-20

113
 LvZ wfwËK †jb‡`b Sector wise transaction

XvKv ÷K G·‡P‡Ä 2019-20 A_©eQ‡i LvZ wfwËK †jb‡`‡b Pharmaceuticals & Chemicals sector remained in the
kxl©¯v’ ‡b i‡q‡Q Jla I imvqb LvZ| G Lv‡Zi †gvU †jb‡`b top position in FY 2019-20. Total transaction of this

wQj 149,299 wgwjqb UvKv, A_©vr †gvU †jb‡`‡bi 19.13 sector was BDT 149,299 million, which is 19.13% of

kZvsk| 101,828 wgwjqb UvKv †jb‡`b K‡i wØZxq Ae¯’v‡b the total transactions. Engineering sector stood at
second position with transaction of BDT 101,828
i‡q‡Q cÖ‡KŠkj LvZ, hv †gvU †jb‡`‡bi 13.05 kZvsk, exgv
million which is 13.05% of the total transactions,
LvZ 82,551 wgwjqb
Insurance sector stood
UvKv †jb‡`b K‡i Z…Zxq Sector Wise Turnover (BDT mn) : FY 2019-20
at third position with
Ae¯’v‡b i‡q‡Q, hv †gvU 160,000
140,000 transaction of BDT
†jb‡`‡bi 10.58 120,000
100,000 82,511 million which
kZvsk| PZz_© Ae¯’v‡b 80,000
60,000 is 10.58% of the total
i‡q‡Q †U·UvBj LvZ, 40,000 transactions, Textile
20,000
hvi †gvU †jb‡`b UvKvq -
sector stood at fourth

u ic

av mu ond
& ed
k

Ta IT
g
ds

C ry
te

co rat ce

d ion
& g
Pa ace tile

s
81,149 wgwjqb UvKv
ua ns

Se Pr ls

la r e
en
C l
ns an

ou
we

a
od r i n

am
ice ntin
Ju

r & ica

e
el Alli

Te rpo ran
En Fun

isc eisu
ut ti o

Re
em

nn
m Tex

an at
B

m eB
position with

ne
Po
Fo n ee

er
pe ut
u

el nic
i
&
ti t

L
l

ns
gi

el
I
lI

Ges †gvU †jb‡`‡bi

rv
Fu
M
ia

ar

M
o
transaction of BDT
nc

Ph

C
le
na

Tr
Fi

10.40 kZvsk Ges 81,149 million and

cÂg Ae¯’v‡b i‡q‡Q R¡vjvbx I we`y¨r LvZ, hvi †gvU †jb‡`b 10.40% of the total transactions, Fuel and Power
UvKvq 64,430 wgwjqb UvKv Ges †gvU †jb‡`‡bi 8.27 sector stood at fifth position with transaction of BDT
kZvsk| 64,430 million and 8.27% of the total transactions.

ˆe‡`wkK †jb‡`b Foreign transaction

2019-20 A_©eQ‡i we‡`wk wewb‡qvMKvix‡`i †gvU †jb‡`‡bi The total investment of foreign investors in FY 2019-

cwigvY `vuovq 96,864.80 wgwjqb UvKv hv †gvU †jb‡`‡bi 20 was BDT 96,864.80 million which is 12.41% of

12.41 kZvsk| MZ A_©eQ‡ii †P‡q 14,671.51 wgwjqb the total trade. BDT 14,671.51 million or 17.85
percent higher than the previous financial year. In
UvKv ev 17.85 kZvsk †ewk| 2019-20 A_©eQ‡i µqK…Z
FY 2019-20 the total securities bought were of BDT
wmwKDwiwU‡Ri cwigvY wQj 41,439.24 wgwjqb UvKv Ges
41,439.24 million and total securities sold was of
weµqK…Z wmwKDwiwU‡Ri cwigvY wQj 55,425.56 wgwjqb
BDT 55,425.56 million. On the other hand, in FY
UvKv| Aciw`‡K, 2018-
2018-19, the total
19 A_©eQ‡i ˆe‡`wkK Foreign Trade Transaction (Tk mn)
foreign trade stood at
†jb‡`‡bi cwigvY wQj 120,000

100,000
BDT 82,193.30
82,193.30 wgwjqb UvKv|
80,000 million of which total
Gi g‡a¨ µqK…Z 60,000

40,000
securities bought was
wmwKDwiwU‡Ri cwigvY wQj 20,000 of BDT 40,178.11
40,178.11 wgwjqb UvKv -
million and total
(20,000)
Ges weµqK…Z 2015-16 2016-17 2017-18 2018-19 2019-20
securities sold was of
wmwKDwiwU‡Ri cwigvY wQj BDT 42,015.19
Foreign Trade (Buy) Foreign Trade (Sale) Total Value Net Position

42,015.19 wgwjqb UvKv| million.

114 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

e¨emvwqK Kg©KvÐ Business Activities

wWGmB-†gvevBj A¨vc DSE-Mobile App

†`‡ki cyuwRevRvi weKv‡ki †¶‡Î 9 gvP© 2016 Zvwi‡L After successful launching of mobile app on March
09, 2016, the number of registered users is going up
ms‡hvRb nq wWGmB-†gvevBj A¨vc| GB A¨vc Pvjyi ci
and at the end of 2019-20 the number stood at
µgea©gvb nv‡i †gvevB‡j †jb‡`b e¨enviKvixi msL¨v †e‡oB
53,754. In 2019-20, the
Pj‡Q hv 2019-20 A_©eQi †k‡l
total number of order
`vuovq 53,754 R‡b| 2019-20 56000

54000
through mobile was 57 lac
A_©eQ‡i †gvevB‡ji gva¨‡g †gvU 52000
27 thousand 566 of which
50000

57 j¶ 27 nvRvi 566 wU 48000

40 lac 36 thousand 559
46000

Av‡`k †cÖiY K‡i| Gi g‡a¨ 40 44000 orders have been executed.

42000

j¶ 36 nvRvi 559wU Av‡`k

Jul-19

Aug-19

Sep-19

Oct-19

Nov-19

Dec-19

Jan-20

Feb-20

May-20

Jun-20
DSE is going through a huge
Kvh©Ki nq| fwel¨‡Z cÖhyw³MZ Mobile Users infrastructural development

Dbœq‡bi mdj ms‡hvR‡bi gva¨‡g for successful adaptation of

future technological development. DSE is always
wWGmB AeKvVv‡gvMZ Dbœq‡b KvR K‡i hv‡”Q| wWGmB
ready to adapt future technological advancement for
†jb‡`‡bi †ÿ‡Î cÖhyw³i m‡e©vËg myweav wewb‡qvMKvix Ges
the ultimate betterment of the investors and other
Ab¨vb¨ †÷K‡nvìvi‡`i †`vo‡Mvovq †cŠuQv‡Z me©`v cÖ¯‘Z|
stakeholders.

IwUwm gv‡K©U OTC Market

IwUwm gv‡K©‡Ui †jb‡`b Av‡Mi eQ‡ii Zyjbvq 2019-20 In FY 2019-20, the trade of OTC market has been
A_©eQ‡i 96.29 kZvsk nªvm †c‡q‡Q| GB eQ‡i IwUwm gv‡K©‡U decreased by 96.29% than that of previous year.
†gvU 18 j¶ 30 nvRvi †kqvi †jb‡`b nq| hvi g~j¨ UvKvq 2 In 2019-20, total share traded in OTC market was
†KvwU 43 j¶ 50 nvRvi| IwUwm gv‡K©‡U eZ©gv‡b 64wU 18 lakh 30 thousand shares valued BDT 2 crore
†Kv¤úvwb i‡q‡Q| Gi g‡a¨ 12wU †Kv¤úvwb wWg¨vU GKvD‡›U 43 lakh 50 thousand. There are currently 64
†jb‡`b nq| G wWg¨vU n‡”Q e¨vsK GKvD‡›Ui gZB GKwU companies in the OTC market. Of these, 12
GKvD›U †h GKvD‡›U ÷K B‡j±ªwbK d‡g© ivLv nq| 2019-20 companies traded in demat form. Shares of 30 out
A_©eQ‡i 65wU †Kv¤úvwbi g‡a¨ 30wU †Kv¤úvwbi †kqvi †jb‡`b of 65 companies were traded in the 2019-20
nq| Aciw`‡K 2018-19 A_©eQ‡i †kqvi †jb‡`‡bi cwigvY financial year. On the other hand, total share
wQj 4 j¶ 20 nvRvi| hvi g~j¨ wQj UvKvq 65 †KvwU 58 j¶ traded in OTC market was 4 lakh 20 thousand

40 nvRvi Ges †jb‡`bK…Z †Kv¤úvwbi msL¨v wQj 16wU| valued BDT 65 crore 58 lakh 40 thousand and the
number of companies traded was 16.

Z_¨ †mevmg~n
Data Services
wWGmBÕi Z_¨ cwi‡lev¸‡jvi g‡a¨ i‡q‡Q GgwWGm ms‡hvM
The data services include MDS connection (delay
(wW‡j †WUv), w`b †k‡l evRvi cwimsL¨v‡bi Z_¨, data), End of Day file (market statistics), customized
Kv÷gvBRW ZvwjKvfz³ †Kv¤úvwbi cÖwZ‡e`b Ges listed company reports and customized historical
Kv÷gvBRW HwZnvwmK †WUv| ¯’vbxq cÖwZôvb Ges data. Local institutions and International data vendors

DSE ANNUAL REPORT n­2019-20

115
 AvšÍR©vwZK Z_¨ we‡µZviv GB cwi‡levi cÖavb MÖvnK| are the main clients of these services. DSE executed

wWGmB 26 (QvweŸk) wU †Kv¤úvwbi mv‡_ Pzw³ m¤úv`b K‡i‡Q deed of agreement with twenty-six (26) companies
which are the EOD clients. DSE completed deed of
hviv BIwW MÖvnK| GgwWGm Z_¨ MÖvnK, †UªK‡nvìvi
agreement with twenty-three (23) companies which
†Kv¤úvwb, B‡jKUªwbK I wcÖ›U wgwWqv Ges we‡`wk cÖwZôvbmn
are MDS data clients including TREC holder’s
wWGmB 23 (†ZBk) wU †Kv¤úvwbi mv‡_ Pzw³ m¤úv`b companies, electronic print media and foreign
K‡i‡Q| institutions.

wWGmBi cwiPvjbv cl©` †UªK‡nvìvi‡`i‡K Zv‡`i IGgGm Board of Directors of DSE decided to provide Nasdaq
ˆZwii Rb¨ bvmWvK g¨vwPs BwÄb (GgB) G¨vwcø‡Kkb †cÖvMÖvwgs Matching Engine (ME) Application Programing

B›Uvi‡dm (GwcAvB) mieivn Kivi wm×všÍ wb‡q‡Q| Interface (API) to TRECs to develop their OMS.

†WUv wewµ †_‡K Avq Revenue from Data Sale

After demutualization DSE is in the process of

wWwgDPzqvjvB‡Rkb cieZx© mg‡q wWGmB Av‡qi †¶‡Î
diversifying revenues through data sale in light with
ˆewPΨ Avbvi Rb¨ we‡k¦i L¨vZbvgv G·‡Pĸ‡jvi Av‡jv‡K
the international best practices of the reputed
†WUv wewµ †_‡K Avq Kivi D‡`¨vM wb‡q‡Q| Kg©cwiKíbv
exchanges. As per work plan PMD Department had
Abyhvqx, wcGgwW wWcvU©‡g›U †WUv †fÛi‡`i mv‡_ KvR K‡i
been working with the data vendors i.e. TREC
h‡”Q| A_©vr †UªK‡nvìvi, †Uwj‡hvMv‡hvM †Kv¤úvwb, weÁvcb
holders, telecom companies, advertising and
I wecYb welqK cÖwZôvb, AvšÍR©vwZK †WUv †fÛi,
marketing firms, international data vendors,
civgk©K‡`i m‡½ mgš^q †i‡L wcGgwW KvR Ki‡Q|
consultants, etc. Revenue from data sale would be
AvMvwg‡Z ÷K G·‡P‡Äi Ab¨Zg Av‡qi Drm n‡e †WUv
one of the key earning areas of the exchange in
wewµ †_‡K cÖvß Avq| 2020 mv‡j †WUv wewµ †_‡K wWGmB
future. In the year 2020, Revenue of DSE from data
Avq K‡i‡Q 3,16,48,028 UvKv|
sale was accounted of BDT 3,16,48,028.
DbœZ ÷K G·‡PÄmg~‡ni Av‡qi Ab¨Zg ¸iæZ¡cY~ © Drm n‡”Q Revenue from data service is thus one of the key
†WUv weµq| evRv‡ii †WUv †hgb : wi‡qj UvBg †WUv, sources of all major stock exchanges. Market data i.e.
wn‡÷vwiK¨vj †WUv, evRv‡ii msw¶ß †WUv I †idv‡iÝ †WUv real-time data, historical data, summary data and
BZ¨vw`i weµq †_‡K XvKv ÷K G·‡PÄ eo ai‡bi Av‡qi reference data can create a large portion of revenue
my‡hvM ˆZwi Ki‡Z cv‡i| †WUv mvwf©‡mm Kvh©µg‡K DrmvwnZ earnings for the Dhaka Stock Exchange. Emphasis is
Kivi Dci GLb †Rvi †`qv n‡q‡Q| hv ax‡i ax‡i wWGmBÕi now placed on, boosting of data service operations,

Ab¨Zg GKwU †UKmB wbw`©ó Av‡qi cÖev‡n cwiYZ n‡”Q| which is slowly becoming a sustainable fixed income
revenue stream of DSE. The PMD Department is
wcGgwW wWcvU©‡g›U evsjv‡`‡ki evB‡ii MÖvnK‡`i Kv‡Q
functioning for sales and marketing of all DSE market
wWGmBÕi mKj gv‡K©U †WUv weµq I wecb‡bi Rb¨ KvR
data products to customers outside Bangladesh, while
Ki‡Q| Gi cvkvcvwk ¯’vbxq MÖvnK‡`iI †mev cÖ`vb Ae¨vnZ
they continue to serve its local clients too. Revenue
†i‡L‡Q| †WUv wewµ †_‡K Avq AvMvgx K‡qK eQ‡ii g‡a¨
from data sale will be one of the key earning areas
G·‡P‡Äi Ab¨Zg g~j DcvR©b †¶Î wn‡m‡e cwiMwYZ n‡e| of the exchange within a few years.
¯’vbxq MÖvnK QvovI Avgv‡`i 5wU we‡`wk MÖvnK i‡q‡Q Zviv Apart from the Local Clients, we have also 5 foreign
n‡jv 1) AvBwmB †WUv Gjwc 2) GmGÛwc †Møvevj K‡c©v‡ikb clients they are (i) ICE Data LP (ii) S&P Global Corp.
3| eøygevM© wdb¨vwÝqvj Gjwc 4) wm· dvBb¨vwÝqvj (iii) Bloomberg Financial L.P. (iv) Six Financial
Bbdi‡gkb 5) _gmb iqUvm©| Information (v) Thomson Reuters

116 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wWGmBÕi I‡qemvB‡U weÁvcb †_‡K Avq Revenue from Advertisement on DSE website

evsjv‡`‡ki I‡qemvBU¸‡jvi g‡a¨ wWGmB Awdwmqvj The official website of DSE is one of the most visited
I‡qemvBU me‡P‡q RbwcÖq mvBU¸‡jvi Ab¨Zg| G Kvi‡Y websites of Bangladesh and hence it can be a
÷K G·‡P‡Äi wbqwgZ ivR¯^ Av‡qi gva¨g n‡Z cv‡i G sustainable source of revenue generation. For this
I‡qemvBUwU| G Rb¨ wWGmB wbR¯^ I‡qemvB‡U ¯’vbxq I
reason, DSE has taken initiative to provide
AvšÍR©vwZK weÁvcb cÖPv‡ii c`‡¶c †bq| G‡Z †ek mvovI
advertisement through its own website of different
wg‡j‡Q| I‡qemvB‡Ui weÁvcb †_‡K w`b w`b Av‡qi cwigvY
local and international advertisements. In the last
evo‡Q| AvMvgx w`b¸‡jv‡Z G LvZ †_‡K Avq wWGmBÕi
ivR‡¯^i eo GKwU Drm n‡e e‡j Avkv Kiv hv‡”Q| me©‡kl financial year (2019-2020), DSE has earned total

2019-20 A_©eQ‡i wWGmB G LvZ †_‡K AvbygvwbK 4.92 revenue approximately BDT 4.92 mn from
wgwjqb UvKv Avq K‡i‡Q| advertisement service through DSE website.

ivR¯^ Lv‡Z Ae`vb Contribution to National Revenue

miKv‡ii ivR¯^ Av‡qi †¶‡ÎI XvKv ÷K G·‡P‡Äi f~wgKv In case of revenue earning of the Government, the role
of DSE is praiseworthy. In the fiscal year 2019-20, DSE
Acwimxg| 2019-20 A_©eQ‡ii XvKv ÷K G·‡PÄ wjt
has deposited BDT 126.11 crore government treasury.
126.11 †KvwU UvKv miKvwi †KvlvMv‡i Rgv cÖ`vb K‡ib|
According to the section 53BBB of the Income Tax
Gi g‡a¨ AvqKi Aa¨v‡`k 1984 Gi 53wewewe aviv Abyhvqx Ordinance 1984, tax deducted at source on transaction
†eªvKv‡iR †Kv¤úvwb †_‡K Dr‡m Ki 78.03 †KvwU UvKv, of brokerage companies was BDT 78.03 crore tax from
AvqKi Aa¨v‡`k 1984 Gi 53Gg aviv Abyhvqx ¯úÝi Ges the sale/transfer of sponsor and placement shares

†cøm‡g›U †kqv‡ii weµq ev UªvÝdvi eve` 34.48†KvwU UvKv, under section 53M of the Income Tax Ordinance, 1984
was BDT 34.48 crore. As per section 53N of the Income
BbKvg U¨v· AwW©b¨vÝ 1984 †mKkb 53Gb Abyhvqx
Tax Ordinance, 1984 the shareholders 'share capital
†kqvi‡nvìvi‡`i †kqvi wewµ eve` g~jabx Av‡qi Ici
income is BDT 91.12 lakh from sale of shares to
91.12 j¶ UvKv Ges BbKvg U¨v· AwW©b¨vÝ 1984 †mKkb shareholders and in line with the section 54 of the
54 Abyhvqx †kqvi‡nvìvi‡`i jf¨vsk Av‡qi Dr‡m Ki eve` Income Tax Ordinance, 1984 BDT 12.60 crore has
12.60 †KvwU UvKv| hv 2018-19 A_©eQ‡ii wQj 320.15 been deducted from dividend income of the
shareholder. Which was BDT 320.15 crore in 2018-19
†KvwU UvKv| Gi g‡a¨ AvqKi Aa¨v‡`k 1984 Gi 53wewewe
financial year. As per section 53BBB of the Income Tax
aviv Abyhvqx †eªvKv‡iR †Kv¤úvwb †_‡K Dr‡m Ki 145.95
Ordinance, 1984, tax at source on transaction of
†KvwU UvKv, AvqKi Aa¨v‡`k 1984 Gi 53Gg aviv Abyhvqx brokerage companies is BDT 145.95 crore and tax
¯úÝi Ges †cøm‡g›U †kqvi‡nvìv‡ii wmwKDwiwUR weµq from the sale/transfer of sponsor and placement shares
eve` 104.73 †KvwU UvKv, BbKvg U¨v· AwW©b¨vÝ 1984 under section 53M of the Income Tax Ordinance, 1984

†mKkb 53Gb Abyhvqx †kqvi‡nvìvi‡`i †kqvi wewµ eve` is BDT 104.73 crore. As per section 53N of the Income
Tax Ordinance, 1984 BDT 56.60 crore has been
g~jabx Av‡qi Ici 56.60 †KvwU UvKv Ges BbKvg U¨v·
deducted from the capital gain of strategic share sale
AwW©b¨vÝ 1984 †mKkb 54 Abyhvqx †kqvi‡nvìvi‡`i
and in line with the section 54 of the Income Tax
jf¨vsk Av‡qi Dr‡m Ki eve` 12.87 †KvwU UvKv ivR¯^ †`qv Ordinance, 1984 BDT 12.87 crore has been deducted
nq| from dividend income of the shareholder.

DSE ANNUAL REPORT n­2019-20

117
 cÖwk¶Y GKv‡Wwg Training Academy
In the FY 2019-2020, DSE Training Academy has
2019-20 A_©eQ‡i wWGmB cÖwk¶Y GKv‡Wwg wewfbœ †gqv‡`
conducted 13 (thirteen) Certification Training
†gvU 13wU mvwU©wd‡KU cÖwk¶Y Kg©mw~ Pi Av‡qvRb K‡i| Gme
Programs of different tenures. These training
cÖwk¶Y Kg©m~wPi gva¨‡g mwVK Z_¨ cÖ`vb I m‡PZbZv e„w× programs conducted with the attempt to provide
K‡i| Gi d‡j evRvi-mswkøóiv Zv‡`i ZvwË¡K I e¨envwiK information and raise awareness of applying

Ávb‡K Kv‡R jvMv‡Z cv‡i| techniques of theoretical & practical knowledge for
the intermediaries of Capital Market.
GKv‡Wwg 387 Rb cÖwk¶Yv_x©‡K mvd‡j¨i m‡½ cÖwkÿY w`‡Z
The Academy has trained 387 (three hundred eighty
†c‡i‡Q| †hme wel‡q cÖwk¶Y Av‡qvRb Kiv n‡q‡Q †m¸‡jv seven) participants successfully. The names of the
n‡jv wb¤œiƒc : training programs are as below:

†cÖvMÖv‡gi Dcw¯’wZi No. of No. of

†cÖvMÖv‡gi bvg Name of Program
msL¨v msL¨v Prog. Prtnts.

Gw›U gvwb jÛvwis GÛ Kge¨vwUs dvBb¨vwÝs Ae Anti-Money Laundering & Combating

†UiwiRg (GGgGj GÛ wmGdwU) di w` K¨vwcUvj Financing of Terrorism (AML & CFT)
gv‡K©U B›UviwgwWqvwiR 1 41 for the Capital Market Intermediaries 1 41

G¨v‡mU g¨v‡bR‡g›U: wgDPz¨qvj dvÛm / Asset Management: Mutual Funds /

Kv‡jw±f Bb‡f÷‡g›U ¯‹xg 1 15 Collective Investment Scheme 1 15

wdbvwÝqvj †÷U‡g›U GbvjvBwmm 1 14 Financial Statement Analysis 1 14

Uz †KvqvwjdvB GR w` A‡_vivBRW To qualify as the Authorized

wi‡cÖ‡R‡›UwUf Ae Representative(s) of TREC Holder
†UªK‡nvìvi †Kv¤úvwb, wWGmB 2 112 Company, DSE 2 112

†Uªwbs †cÖvMÖvg Ab AvBwcI : Training Program on IPO:

cÖ‡mm A¨vÛ cÖwmwWDim 2 54 Process & Procedures 2 54

†Uªwbs †cÖvMÖvg Ab GWfvÝW Training Program on Advanced

†UKwbK¨vj GbvjvBwmm 1 17 Technical Analysis 1 17

AvBwmwU wmwKDwiwU MvBWjvBb di ICT Security Guideline for DSE

wWGmB †UªK‡nvìvim 3 43 TREC Holders 3 43

wi¯‹ †eBRW K¨vwcUvj A¨vKz‡qwm Risk Based Capital Adequacy

wi‡Kvqvi‡g›U Ae w` K¨vwcUvj gv‡K©U Requirements of the Capital Market
B›Uvi‡gwWqvwim 1 31 Intermediaries 1 31

IqvK©kc ÒdvÛv‡g›Uvjm Ae Workshop “Fundamentals of

G¨v‡mU f¨vjy‡qkbÓ 1 60 Asset Valuation” 1 60

me©‡gvU 13 387 Total 13 387

wWGmB †Uªwbs GKv‡Wwg wWGmBÕi wewfbœ wWcvU©‡g›U, wek¦we`¨vjq I The Training Academy also arranged other
Ab¨vb¨ wefv‡Mi Rb¨ †ek wKQz m‡PZbZvg~jK Kg©kvjvi Av‡qvRb Awareness Programs for departments of DSE,
K‡iwQj| Kg©kvjv¸‡jv n‡jv- universities and others. The Programs are:

118 wWGmB evwl©K cÖwZ‡e`b n­2019-20

evsjv‡`k e¨vsK : wiMvwW©s w` mvewgkb Ae G‡mU A¨vÛ Bangladesh Bank: Regarding the
jvqvwewjwUR Bbdi‡gkb Ae IGmwmR mv‡f© 1 250 submission of Assets & Liabilities
information for OFCs Survey 1 250
†kqvi‡nvwìs Bbdi‡gkb wm‡÷g mdUIqv‡ii Dci
Demonstration Program on "Shareholding
†W‡gv݇Uªkb †cÖvMÖvg 1 330
Information System" software 1 330
wWGmB I wRAviAvB-Gi w`be¨vcx cÖwkÿY Kg©kvjv 1 92
DSE & GRI daylong training program 1 92
†Kv¤úvwb mwPe‡`i b‡jR †kqvwis Knowledge Sharing and Training
Ges cÖwkÿY Kg©kvjv 1 350 Program for the Company Secretary. 1 350
B›Uvib¨vkbvj BmjvwgK BDwbfvwm©wU PÆMÖvg-Gi Visit to DSE by the students of Department of Business
e¨emvq cÖkvmb wefv‡Mi Qv·`i wWGmB cwi`k©b 1 16 Administration of International
Islamic University Chittagong 1 16
weAvBwmGgÕi Qv·`i Rb¨ cÖwkÿY Kg©kvjv 1 20
Training Session for BICM Students 1 20
BwÛ‡c‡Û›U BDwbfvwm©wU, evsjv‡`k-Gi
dvBb¨vÝ wefv‡Mi QvÎ I d¨vKvwë m`m¨‡`i Visit to DSE by the Faculty Members &
Students of Department of Finance of
wWGB cwi`k©b 1 42
Independent University, Bangladesh 1 42
wWGmB Awdwmqvj‡`i Rb¨
Cyber Security Awareness Program
mvBevi wmwKDwiwU A¨vIqvi‡bm †cÖvMÖvg 4 161
for DSE officials 4 161
GgwUI BbWvKkb †cÖvMÖvg, 2019 1 11 MTO Induction Program, 2019 1 11
wWGmB Awdwmqvj‡`i Rb¨ b‡jR †kqvwis Knowledge sharing and training
I cÖwkÿY †mkb 1 20 sessions for the DSE officials 1 20

RvZxq wewb‡qvM wkÿv Kvh©µg Gi AvIZvq Online training programs on “Role of

Ò†ivj Ae ÷K-†eªvKvim Ab B›Uvi‡bU †eBRW Stock-Brokers on Internet Based Trading”

†UªwWsÓ-Gi Dci AbjvBb cÖwkÿY Kg©kvjv 4 672 under Nationwide Financial Literacy
Program (NFLP). 4 672
XvKv wek¦we`¨vj‡qi e¨emvq wkÿv Abyl‡`i
Online Training on Financial Literacy
e¨e¯’vcbv wefv‡Mi Qv·`i‡K
and Capital Market Students of
cyuwRevRvi I wewb‡qvM wkÿv wel‡q Department of Management, Faculty
AbjvBb cÖwkÿY 1 108 of Business Studies, University of Dhaka 1 108

11 wW‡m¤^i 2019 Zvwi‡L wWGmB †Uªwbs GKv‡Wwg wmGdG DSE Training Academy has also entered into Memorandum
†mvmvBwU evsjv‡`k-Gi mv‡_ GKwU mg‡SvZv Memorandum of Understanding (MoU) with the CFA Society Bangladesh
of Understanding (MoU) Pzw³ m¤úv`b K‡i‡Q| on December 11, 2019.

wWGmB UvIqvi DSE Tower

Dhaka Stock Exchange Limited has already been
XvKv ÷K G·‡PÄ wjt wWGmB feb, gwZwSj †_‡K wbKzį’
shifted from DSE Building, Motijheel to its new and
wWGmB UvIqv‡i (evwo bs- 46, †ivW bs- 21, wbKyÄ-02,
iconic building at “DSE-Tower”, Plot # 46, Road # 21,
XvKv-1229) ¯’vbvšÍwiZ n‡q‡Q| wWGmB UvIqv‡i, ÷K Nikunja-2, Dhaka-1229 on November 03, 2019. DSE
G·‡PÄ, Kgvwk©qvj e¨vsK, wdbvwÝqvj Bbw÷wUDkb, †m›U«vj tower is going to become a commercial hub including
KvD›UvicvwU© evsjv‡`k wjwg‡UW, †m›U«vj wWcwRUwi evsjv‡`k Stock Exchange, Commercial Banks, Financial

DSE ANNUAL REPORT n­2019-20

119
 wjwg‡UW, K¨vwcUvj gv‡K©U B›UviwgwWqvwiR Ges K‡c©v‡iU Institutions, Central Counterparty Bangladesh Limited
AM©vbvB‡Rk‡bi GKwU evwYwR¨K nve wn‡m‡e KvR Ki‡e| (CCBL), Central Depository Bangladesh Limited

eûZj febwU‡Z 13 wU †d¬vi Ges wZbwU †eR‡g›U i‡q‡Q| (CDBL), Stock Brokers, Capital Market Intermediaries
and Corporate Organization. The Tower has 3
cÖwZwU †d¬v‡ii AvqZb 42 nvRvi eM©dyU| wZbwU †em‡g‡›U
basements and 13 floors where each floor covers
398 wU Mvwo cvK© Kiv m¤¢e| †d¬vi Abyhvqx febwUi we¯ÍvwiZ
42,000 Sft (Ave.). Basements- 1, 2 & 3 can
Z_¨ wb‡gœ Dc¯’vcb Kiv n‡jv :
accommodate 398 cars. Level wise overview of this
iconic Tower is as follows:

†j‡fj-01
†j‡fj 01-G gyivj, ¯‹víPvi, gywRe KY©vi, Level 1:

wgDwRqvg, wgwWqv †m›Uvi Ges wjw÷s Mural, Sculpture, Mujib Corner,

nj i‡q‡Q| e¨vsK Ges K‡c©v‡iU Museum, Media Centre and
Listing Hall are in this level.
cÖwZôvb‡K fvov †`Iqvi Rb¨
Only 7500 sft space is
gvÎ 7500 eM©dyU RvqMv
available for rent to
Lvwj i‡q‡Q| wWGmB Banks and Corporate
gv‡K©›UvBj e¨vs‡Ki mv‡_ organization. DSE has
3394 eM©dyU RvqMv already signed
fvovi Pyw³ m¤úbœ K‡i‡Q tenancy agreement
with Mercantile Bank
Ges m¤úªwZ e¨vsKwU Gi
Limited renting out 3394
kvLv Kvh©µg ïiæ K‡i‡Q| sft and they have started
wWGmB GbAviwewm e¨vs‡Ki mv‡_ their branch operation recently.
1600 eM©dyU RvqMvq Zv‡`i GKwU ey_ DSE has also signed another
¯’vc‡bi Rb¨ Pyw³ m¤úbœ K‡i‡Q| agreement with NRBC Bank Limited for
1600 sft to set up a booth of the Bank.

†j‡fj-02
Level 2:
e¨vsK Ges K‡c©v‡iU AM©vbvB‡Rkb‡K fvov †`Iqvi Rb¨ gvÎ
21,135 sft rentable space is available for Banks and
21,135 eM©dyU RvqMv Lvwj i‡q‡Q| wWGmB AvBGdAvBwm
Corporate organization. We have already signed a
e¨vs‡Ki mv‡_ 2,325 eM©dyU Ges †mvk¨vj Bmjvgx e¨vs‡Ki
tenancy agreement with IFIC Bank Limited Social
mv‡_ 1,635 eM©dyU RvqMv fvovi Pyw³ m¤úbœ K‡i‡Q|
Islami Bank Limited renting out 2,325 sft and 1,635
AvBGdAvBwm e¨vsK MZ 24 †m‡Þ¤^i 2020 †_‡K Zv‡`i
sft respectively. IFIC Bank has started their branch
eªv Acv‡ikb ïiæ K‡i‡Q| operation on September 24, 2020.

†j‡fj -3 Level 3:
• wWGmB Awdm| • DSE Office

†j‡fj-4 Level 4:

• AvBwmwU wefv‡Mi Awdm Ges †WUv †m›Uvi GLv‡b ¯’vcb • Office for DSE ICT Division and Data Centre will
Kiv n‡e| be set up here.

120 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

†j‡fj-5 Level 5:

wWGmB †m›U«vj KvD›UvicvwU© evsjv‡`k wjwg‡UW-Gi mv‡_ DSE already signed a tenancy agreement with CCBL

Zv‡`i cÖavb kvLv ¯’vc‡bi Rb¨ 17,000 eM©dUy RvqMv fvovi renting out 17,000 sft for setting up their head office.
Another agreement has been signed with CDBL
Pyw³ m¤úbœ K‡i‡Q| wmwWweGjÕi mv‡_ 4,045 eM©dUy RvqMvq
renting out 4,045 sft for setting up their Datacenter
Zv‡`i †WUv †m›Uvi ¯’vc‡bi Rb¨ fvovi Pyw³ m¤úbœ Kiv
(DR).
n‡q‡Q|

Level 5 to 12:
†j‡fj- 05-12
There are 189 rooms covering area of space 2,90,000
†U«K‡nvìvi †Kv¤úvwbi Awd‡mi Rb¨ †j‡fj 05 †_‡K 12 sft for TREC Holder’s office from Level-05 to Level-12.
ch©šÍ 2,90,000 eM©dyU RvqMvi 189 wU K¶ i‡q‡Q| 97wU 97 TREC Holder Companies have completed their
†U«K‡nvìvi †Kv¤úvwb wWGmB UvIqv‡i Awdm ¯’vc‡bi Rb¨ rental agreement for office space at DSE Tower. The
fvov Pyw³ m¤úbœ K‡i‡Q| Awdm fvov 2020 mv‡ji gvP© †_‡K rent was supposed to be effective from March 01,
Kvh©Ki nIqvi K_v wQj Z‡e †KvwfW-19 gnvgvix RwbZ 2020 but due to covid-19 pandemic situation DSE
Kvi‡Y wWGmB KZ©…c¶ 2020 mv‡ji wW‡m¤^i ch©šÍ Awdm authority waived the rent till December, 2020. DSE

fvov gIKzd K‡i| wWGmB KZ©…c¶ wm×všÍ wb‡q‡Q †h Awdm authority has decided the rent will be effective from
January 01, 2021. Among 97 TREC Holder
fvov 01 Rvbyqvix 2021 †_‡K Kvh©Ki n‡e| 97wU
companies 27 TREC Holder Companies have already
†U«K‡nvìvi †Kv¤úvwbi g‡a¨ 27wU †U«K‡nvìvi †Kv¤úvwb
started trading activities at DSE Tower. Some TREC
B‡Zvg‡a¨ wWGmB UvIqv‡i †U«wWs Kvh©µg ïiæ K‡i‡Q| †ek
Holder companies have also started decorating their
wKQz †U«K‡nvìvi †Kv¤úvwb Zv‡`i Awdm mymw¾Z Kivi KvR
office.
ïiæ K‡i‡Q|

Level 13:
†j‡fj-13
DSE Tower is also furnished with modern Lounge,
wWGmB UvIqv‡ii 13 Zjvq AvaywbK jvDÄ, wRg‡bwmqvg, Gymnasium, Training Academy and Library on Level-
cÖwk¶Y GKv‡Wwg, cvVvMvi Ges †j‡fj-12/13 G GKwU 13. DSE Tower has a well-equipped Auditorium on
mymw¾Z AwW‡Uvwiqvg i‡q‡Q| Level-12/13.

Total Expenses:
†gvU e¨q :
AS on October 2020 total Expenses of the building is
2020 mv‡ji A‡±vei ch©šÍ fe‡bi †gvU e¨q
BDT 301,36,90,631 and revaluation amount is BDT
301,36,90,631 UvKv Ges cybg~©j¨vq‡bi cwigvY
232,80,37,475.
232,80,37,475 UvKv|
DSE Board has decided to allow third parties to use
wWGmB †evW© Z…Zxq c¶‡K fvovi wfwˇZ wWGmB UvIqv‡ii
space of Academy premises and the Multi-Purpose
GKv‡Wwg cÖv½Y Ges gvwë-cvicvm nj e¨env‡ii AbygwZ
Hall at DSE Tower on rental basis. DSE Lounge and
†`Iqvi wm×všÍ wb‡q‡Q| wWGmB jvDÄ Ges wRg‡bwmqvg
Gymnasium would be open for all TREC holders and
†c‡g‡›Ui wfwˇZ mg¯Í †U«K‡nvìvi Ges K‡c©v‡iU AwZw_‡`i
corporate guests on payment basis.
Rb¨ Db¥y³ _vK‡e|

DSE ANNUAL REPORT n­2019-20

121
 mvgvwRK Dbœq‡b Ae`vb Contribution to CSR

K‡c©v‡iU RM‡Z mvgvwRK `vqe×Zvi welqwU AZ¨šÍ Social responsibility is a very important issue in the
corporate world. As a well-known and responsible
¸iæZ¡c~Y©| GKwU my-cwiwPZ I `vwqZ¡kxj ms¯’v wn‡m‡e XvKv
entity, Dhaka Stock Exchange (DSE) has continued its
÷K GK‡PÄ me mgq RbKj¨vYgyLx Kg©ZrciZv Ae¨vnZ
public welfare-oriented activities. The Government
†i‡L‡Q| K‡ivbvfvBivm cÖwZ‡iva I wbqš¿‡Y miKvi mvaviY
had restricted movement of transport and general
QywU †NvlYvmn hvb PjvPj eÜ Kivi cvkvcvwk Rbmvavi‡Yi people to flatten the curve of Corona virus. As a result
PjvPj mxwgZ K‡i| G‡Z mvaviY †L‡U LvIqv gvbyl Kg©nxb commoners became job-less and DSE donated a
n‡q c‡i| G Ae¯’vq XvKv ÷K G·‡PÄ wjwg‡UW mvgvwRK cheque for Tk 1 (one) crore to the Relief and Welfare
`vqe×Zv Kvh©µ‡gi Ask wn‡m‡e Kg©nxb, `y¯’ I wQbœg~j Fund of Prime Minister as part of DSE’s CSR activities
to help the job-less, destitute and impoverished
gvby‡li mnvqZvq cÖavbgš¿xi ÎvY I Kj¨vY Znwe‡j 1 †KvwU
people. On behalf of Honourable Prime Minister
UvKvi GKwU †PK n¯ÍvšÍi K‡i| gvbbxq cÖavbgš¿x †kL
Sheikh Hasina, her Principal Secretary Ahmad
nvwmbvi c‡¶ Zvi g~L¨ mwPe Avn‡g` KvqKvDm Aby`v‡bi
Kaikaus received the cheque of donation. One-day
GB †PK MÖnY K‡ib| wWGmBÕi mKj Kg©KZ©v I Kg©Pvix‡`i basic salary of DSE’s all officials and staff members
GK w`‡bi g~j †eZb K‡ivbvKvjxb mg‡q `wi`ª I are being utilized for the welfare of poor
Amy¯’ gvby‡li Kj¨v‡Yi Rb¨ e¨q Kiv and sick people during the
n‡q‡Q| GQvovI mvgvwRK `vqe×Zvi Coronavirus pandemic. Besides,

Ask wn‡m‡e K‡ivbvfvBivm gnvgvwi‡Z Shenzhen Stock Exchange of

China, the strategic partner of DSE
mn‡hvwMZvi nvZ evwo‡q w`‡q‡Q XvKv
extended their hands of
÷K G·‡P‡Äi †KŠkjMZ Askx`vi
cooperation to fight the Covid-19
Px‡bi †kb‡Rb ÷K G·‡PÄ| Zviv pandemic as part of its social
cyuwRevRvi wbqš¿K ms¯’v evsjv‡`k responsibility. They have provided high
wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb, wWGmBÕi quality masks to Bangladesh Securities and
cwiPvjbv cl©`, mKj †U«K‡nvìvi, wWGmBi Kg©KZ©v I Exchange Commission, Board of Directors of DSE,

Kg©Pvix Ges cywu RevRvi mswkøó mvsevw`K‡`i Rb¨ DbœZ gv‡bi all stakeholders, officials and staff members of DSE
and capital-market related journalists. These masks
gv¯‹ B‡Zvg‡a¨ weZiY Kiv n‡q‡Q| weMZ w`‡bI wmGmAvi
have already been distributed. Dhaka Stock
Kvh©µ‡gi Ask wn‡m‡e †`‡ki †h †Kvb `y‡h©vMKvjxb mg‡q
Exchange has earlier contributed to the Relief Fund
XvKv ÷K G·‡PÄ wjwg‡UW cÖavbgš¿xi ÎvY Znwe‡j Aby`vb
of Prime Minister as part of its CSR activities during
w`‡q‡Q| cwi‡ek Dbœqb, mgv‡Ri SyuwKc~Y© Rb‡Mvôx Ges any disaster of the country. DSE has continued to
cÖwZeÜx‡`i wb‡q KvR K‡i Ggb †ek wKQy msMVb I provide financial support to some organisations and
cÖwZôvb‡K wWGmB Avw_©K mnvqZv †`qvi welqwU Ae¨vnZ institutions who work for development of environment
†i‡L‡Q| and risk-prone and autistic people of the society.

wmGbAvB-wWGmB wm‡j± Bb‡W· ("wmwWGmBwU") CNI-DSE Select Index (“CDSET”)

XvKv ÷K G·‡P‡Äi †KŠkjMZ wewb‡qvMKvix †kb‡Rb I As part of technical collaboration plan between
mvsnvB ÷K G·‡P‡Äi mgš^‡q Px‡bi Kb‡mvwU©qv‡gi Dhaka Stock Exchange Limited and Strategic

122 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

e¨emvwqK I cÖhwy ³MZ mn‡hvwMZvi Ask wn‡m‡e cÖv_wgKfv‡e Investors of DSE, an initiative has been taken to

wWGmB‡Z AvKvi wfwËK wZbwU (e…nr, ga¨g I ¯^í g~jabx launch new Indices for DSE. Initially, DSE planned to

†Kv¤úvwbi mgš^‡q) bZyb m~PK Pvjy Kivi D‡`¨vM MÖnY Kiv launch size-based indices based on DSE Large-Cap,

nq| †kb‡Rb ÷K G·‡P‡Äi mvewmwWqvwi †Kv¤úvwb †kb‡Rb DSE Mid-Cap and DSE Small-Cap Constituents.

wmwKDwiwUR Bbdi‡gkb †Kv¤úvwb wjt I wWGmB †hŠ_fv‡e Dhaka Stock Exchange Limited and Shenzhen

GB m~PKwUi wWRvBb I †W‡fjc‡g‡›Ui KvR K‡i| Securities Information Co., Limited (“SSIC”), a wholly

wewb‡qvMKvixiv hv‡Z e„nr, ga¨g I ¯^í g~jabx owned subsidiary of Shenzhen Stock Exchange, jointly

†Kv¤úvwb¸‡jvi g~‡j¨i n«vm e…w× GK bR‡i eyS‡Z cv‡ib worked in designing, developing and launching of

†mRb¨ GB m~PK Pvjy Kiv nq| DSE Size-based Indices.

cÖv_wgK ch©v‡q, wWGmB I GmGmAvBwm evsjv‡`k In first phase, DSE and SSIC has launched CNI-DSE

cyuwRevRv‡ii e„nr evRvi g~ja‡bi cÖwZwbwaZ¡Kvix I Select Index (“CDSET”) that represents the largest

wewb‡qvM‡hvM¨ †Kv¤úvwbi mgš^‡q wmGbAvB-wWGmB wm‡j± percentage of capitalization of the investable universe
of Bangladesh Capital Market.
Bb‡W· ("wmwWGmBwU") D‡Øvab Kiv nq|

Mujib Centenary
gywRe kZel©
Dhaka Stock Exchange (DSE), the main bourse
gywRee‡l© RvwZi wcZv e½eÜz †kL gywReyi ingvb-Gi cÖwZ of the country has taken different programmes
kÖ×vwb‡e`b c~e©K A_©‰bwZK Dbœq‡bi PvwjKvkw³ †`‡ki throughout the year to pay tribute to the Father
cÖavb cywu RevRvi XvKv ÷K G·‡PÄ wjwg‡UW eQie¨vcx wewfbœ of the Nation Bangabandhu Sheikh Mujibur
Rahman observing the Mujib Year. After the
Kg©m~wP cvj‡bi D‡`¨vM †bq| 10 Rvbyqvwi gvbbxq cÖavbgš¿x
inauguration of the countdown to observe Mujib
gywReel© D`&hvc‡bi ¶YMYbvi D‡Øvab Kivi ci XvKv ÷K Year by the Honourable Prime Minister, DSE on
G·‡PÄ wjwg‡UW 27 Rvbyqvwi 2020 Zvwi‡L gvbbxq msm` January 27, 2020 arranged the opening of the
m`m¨, XvKv ÷K G·‡P‡Äi cwiPvjbv cl©‡`i m`m¨, countdown on its premises, attended by
Honourable Member of Parliament, members of
wWGmBÕi mv‡eK †cÖwm‡W›U I †Pqvig¨vbe„›`, †U«K‡nvìvie„›`,
the DSE Board of Directors, former presidents
wWweGÕi †cÖwm‡W›U Ges cwiPvjKe„›`, gv‡P©›U e¨vsKvm© and chairmen of DSE, TREC-holders, president
G‡mvwm‡qkb Ges Ab¨vb¨ and directors of DBA,

†÷K‡nvìvi‡`i Dcw¯’wZ‡Z wWGmB representatives of Merchant

Bankers Association and other
cÖv½‡b gywRee‡l©i ¶YMYbv D`&hvc‡bi
stakeholders. The importance
Av‡qvRb K‡i gywRee‡l©i gwngv I Zvrch© and significance of Mujib Year
Ges e½eÜyi Kg©gq Rxeb Zz‡j a‡ib| and the achievement of
Bangabandhu were highlighted
gywRee‡l©i wewfbœ Kg©m~wPi Ask wn‡m‡e
in the event. As part of observing Mujib Year,
17 gvP© 2020 Zvwi‡L wWGmBÕi †Pqvig¨vb †gvt BDbymyi DSE Board of Directors, led by its Chairman Md.
ingv‡bi †bZ…‡Z¡ wWGmBi cwiPvjbv cl©` RvwZi wcZv e½eÜy Eunusur Rahman placed floral wreaths at the
†kL gywReyi ingvb-Gi Rb¥kZ evwl©Kx‡Z avbgwÛ 32 b¤^‡i Bangabandhu Portrait at Dhanmondi 32 on
March 17, 2020, the day of birth centenary of
e½eÜyi cÖwZK…wZ‡Z XvKv ÷K G·‡P‡Äi c¶ †_‡K cy®úvN©
Father of the Nation Bangabandhu Sheikh
Ac©Y K‡i kÖ×v Rvbvb| Mujibur Rahman.

DSE ANNUAL REPORT n­2019-20

123
 RvwZi wcZvi 45Zg kvnv`Zevwl©Kx‡Z evsjv‡`k wmwKDwiwUR DSE arranged memorial meeting and Doa

A¨vÛ G·‡PÄ Kwgk‡bi †Pqvig¨vb, Kwgkbvi, Ab¨vb¨ Mehfil to pay tribute on the occasion of the 45 th
death anniversary of the Father of the Nation,
†÷K‡nvìvi Ges mvsevw`Ke„‡›`i AskMÖn‡Y XvKv ÷K G·‡PÄ
where BSEC chairman, commissioner, other
wjwg‡UW ¯§iYmfv I †`vqv gvnwdj Av‡qvRb K‡i Ges GKB stakeholders and journalists attend the program.
w`b avbgwÛ 32 b¤^‡i e½eÜyi cÖwZK…wZ‡Z kÖ×v wb‡e`b K‡ib| On the same day DSE paid tribute at the portrait
of Bangabandhu at Dhanmondi 32.
gywRe kZel© D`&hvc‡bi Ask wn‡m‡e XvKv ÷K G·‡PÄ ¯’vbxq
I AvšÍRv© wZK ch©v‡q wewfbœ ai‡Yi Kg©mP~ x cvj‡bi D‡`¨vM MÖnY As a part of the observance of Mujib Centenary
DSE has adopted, locally and globally, various
K‡i‡Q| Gi g‡a¨ e½eÜzi Rb¥ kZel© Ges evsjv‡`‡ki myeY©
programs among them a book commemorating
RqšÍx Dcj‡ÿ¨ GKwU g~j¨evb MÖš’ cÖKvk, iPbv I wPÎv¼b
Bangabandhu's Birth Centenary and 50 years of
cÖwZ‡hvwMZv Ges wWGmB UvIqv‡i gywRe KY©vi ¯’vcbmn Av‡iv Bangladesh, essay & art competition, establishment
†ek wKQz D‡`¨vM| GQvovI wewfbœ AvšÍRv© wZK ms¯’v- WweøDGdB, of Mujib Corner at DSE Tower and some more initiatives
GmGGdB, IAvBwmBGd, GIGmBGd, BDGbGmGmB I have been taken and webinar through connecting
wewfbœ ÷K G·‡PćK hy³ K‡i GKwU I‡qwebvi Av‡qvRb Kivi WFE, SAFE, OICEF, AOSEF, UNSSE and different
major Stock Exchanges which may be inaugurated
D‡`¨vM †bqv n‡q‡Q| hv gvbbxq cÖavbgš¿x KZ…©K D‡Øva‡bi †Póv
by the honorable Prime Minister.
Kiv n‡”Q|

Mujib Corner at DSE

wWGmB‡Z gywRe KY©vi Pvjy
On the occasion of the birth centenary of Father of the
RvwZi wcZv e½eÜy †kL gywReyi ingv‡bi Rb¥kZevwl©Kx Nation Bangabandhu Sheikh Mujibur Rahman, besides
the state program Dhaka Stock Exchange Limited, the
Dcj‡¶¨ ivóªxq Kg©m~wPi cvkvcvwk †`‡ki cÖavb cyuwRevRvi
main bourse of the country, has also come forward with
XvKv ÷K G·‡PÄI eûgyLx Kg©m~wP wb‡q GwM‡q Avm‡Q| a multi-faceted programs. Starting from March 17 of
PjwZ eQ‡ii 17 gvP© †_‡K e½eÜy †kL gywReyi ingv‡bi the current year the birth centenary celebrations of

Rb¥kZevwl©Kxi Abyôvb ïiæ nq| hv †kl n‡e AvMvgx eQ‡ii Bangabandhu Sheikh Mujibur Rahman will be
continued up to March 17 of the next year.
17 gvP©| e½eÜy ïay †`k‡K ¯^vaxbZv AR©‡b †bZ…Z¡B †`bwb,
Bangabandhu does not only lead the country to
wZwb †`‡ki mvgvwRK I A_©‰bwZK Dbœq‡b GKwU k³ wfZI independence, he also laid a strong foundation for the
ˆZwi K‡i w`‡q‡Qb| wZwb G †`‡ki gvbyl‡K RvwZmË¡vi social and economic development of the country. He
has uphold the national identity of the people of this
cwiPq G‡b w`‡q‡Qb| we‡k¦i Ab¨Zg kw³gvb GB †bZvi
country. To pay homage to one of the most powerful
cÖwZ kÖ×v Rvbv‡Z Ges e½eÜy Rb¥kZevwl©Kx Dcj‡¶¨ leaders in the world and to commemorate
e½eÜy‡K ¯§iYxq K‡i ivL‡Z XvKv ÷K G·‡P‡Äi cwiPvjbv Bangabandhu on the occasion of his birth centenary,
the Board of Directors of the Dhaka Stock Exchange
cl©` e½eÜy Kb©vi wbg©v‡Yi D‡`¨vM MÖnY K‡i| GiB †cÖw¶‡Z
took the initiative to build the Mujib Corner. In this
gvbbxq cÖavbgš¿x †kL nvwmbv KZ©…K eivÏK…Z RvqMvq wbwg©Z context, a modern and informative Mujib Corner has
wbKz‡Ä wWGmB UvIqv‡ii †j‡fj-1 G AvaywbK I Z_¨ mg„× been built at Level-1 of DSE Tower in Nikunja, the land
e½eÜy Kb©vi wbg©vY Kiv n‡q‡Q| gywRe KY©vi cwi`k©bKv‡j allotted by Hon'ble Prime Minister Sheikh Hasina.
During the visit to Mujib Corner, one can know about
GKRb cwi`k©K e½eÜzÕi evsjv‡`k, e½eÜzÕi ivR‰bwZK
Bangabandhu Bangladesh, Bangabandhu's political
`k©b, wkívq‡b f~wgKv, wek¦cwigÛ‡j evsjv‡`k‡K Dc¯’vcb career, his role in industrialization, his contribution in

124 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Ges e½eÜyi †mvbvi evsjv m¤úwK©Z Z‡_¨i gva¨‡g mg„× n‡Z presenting Bangladesh to the world and information
about Bangabandhu's Golden Bengal. There will also
cvi‡e| GQvovI _vK‡e e½eÜyi wewfbœ ai‡bi Av‡jvKwPÎ,
be different types of photographs of Bangabandhu,
7 gv‡P©i fvlY, e½eÜy‡K wb‡q cÖKvwkZ wewfbœ eB, wewfbœ speech on March 7, various books on Bangabandhu,
ai‡bi WKy‡g›Uvwi| different types of documentaries.

wewb‡qvMKvix myi¶v Znwej Investors’ Protection Fund

XvKv ÷K G·‡PÄ (Bb‡f÷im cÖ‡UKkb dvÛ) wewagvjv, Investors' Protection Fund (IPF) was primarily formed

1999 Abyhvqx wewb‡qvMKvix myi¶v Znwej (AvBwcGd- in accordance with the provisions of the Dhaka Stock
Exchange (Investors' Protection Fund) Regulations,
Bb‡f÷im cÖ‡UKkb dvÛ) MVb Kiv n‡q‡Q| G wewagvjvwU
1999. These Regulations have been replaced by the
2014 mv‡j XvKv ÷K G·‡PÄ (Bb‡f÷im cÖ‡UKkb dvÛ
Dhaka Stock Exchange (Investors' Protection Fund
†i¸‡jkbm) bv‡g cÖwZ¯’vwcZ nq| wewagvjvwUi 3bs weavb
Regulations), 2014. As per Regulation 3, the purpose
Abyhvqx, AvBwcGd MVb Kiv n‡q‡Q g~jZt wewb‡qvMKvix‡`i
of this IPF is to protect the interest of the investors in
myi¶vi Rb¨| hv‡Z †Kv‡bv †UªK‡nvìvi †Ljvwc‡Z cwiYZ
case of default by the TREC Holders. It provides DSE
n‡jI wewb‡qvMKvix‡`i ¯^v_© †hb myiw¶Z _v‡K| hw` †Kv‡bv
with the power to set-off the security deposit if there
†UªK‡nvìvi Zvi MÖvnK‡`i cvIbv cwi‡kv‡a e¨_© nq Zvn‡j G
are any unsettled dues by a TREC holder to its
wewagvjv I Znwe‡ji gva¨‡g wWGmB‡K †`qv ¶gZve‡j IB customers. The IPF was first created on August 14,
`vwe cwi‡kva Ki‡Z cvi‡e wWGmB| 14 AvM÷ 2000 mv‡j 2000 with an amount of BDT 1 million only and as
gvÎ GK wgwjqb UvKv wb‡q GwU ïiæ K‡i Ges 30 Ryb, 2020 on June 30, 2020 the total deposit of this fund
Aewa GB Znwe‡ji †gvU Rgv wQj 133.21 wgwjqb UvKv| reached at BDT 133.21 mn.

†jb‡`b wb®úwËi wbðqZv Znwej Settlement Guarantee Fund

XvKv ÷K G·‡PÄ (†m‡Uj‡g›U M¨vivw›U dvÛ) wewagvjv- A Settlement Guarantee Fund (SGF) has been created
as per the Dhaka Stock Exchange (Settlement
2013 Abyhvqx †jb‡`b wb®úwËi wbðqZvq ZnwejwU MVb
Guarantee Fund) Regulations 2013. As per
Kiv n‡q‡Q| AvB‡bi 3 bs aviv Abyhvqx, †jb‡`b wb®úwËi
Regulation 3, the objective of the SGF is to reduce the
SzuwK Kgv‡Z G Znwej MVb Kiv nq Ges XvKv ÷K G·‡PÄ settlement risk in case of trades in the exchange and
(†m‡Uj‡g›U Ae Uªvb‡RKkb) †i¸‡jkb 2013 Abyhvqx ensure settlement of the trades in the manner
†jb‡`b wb®úwË wbwðZ Kiv nq| 2014 mv‡ji 22 Ryb gvÎ prescribed in the Dhaka Stock Exchange (Settlement

25 nvRvi UvKvi Znwej wb‡q hvÎv ïiæ K‡i| 2020 mv‡ji of Transactions) Regulations 2013. SGF was started
on June 22, 2014 with an amount of BDT 25,000
30 Ryb †k‡l ZnwejwUi AvKvi †e‡o `uvwo‡q‡Q 18.03
only and as on June 30, 2020 the total deposit of this
wgwjqb UvKvq|
fund reached at BDT 18.03 mn.

jf¨vsk
Dividend
wWGmBÕi cwiPvjbv cl©` 2020 mv‡ji 30 Ryb mgvß Avw_©K The Board of Directors of DSE recommended the
eQ‡ii Rb¨ jf¨vsk eȇbi mycvwik K‡i‡Q| †Kv¤úvwbi following appropriation of income for the year ended
mvwe©K Kvh©µg, iwÿZ Avq I eZ©gvb Zvij¨-cwiw¯’wZ on June 30, 2020. In view of the performance,

DSE ANNUAL REPORT n­2019-20

125
 we‡ePbvq wb‡q cl©` 30 Ryb, 2020 mgvß Avw_©K eQ‡ii retained earnings of the company and the current

Rb¨ 3% (wZb kZvsk) bM` jf¨vsk cÖ`v‡bi mycvwik liquidity position, the Board recommended 3% (Three
percent) cash dividend for year ended on June 30,
K‡i‡Q| weZiY‡hvM¨ gybvdvi GKwU msw¶ßmvi wb‡P Zz‡j
2020. A summary of distributable profit is presented
aiv n‡jv : below:

(wgwjqb UvKvq) (BDT Million)

we¯ÍvwiZ 2018-19 2019-20 Particulars 2018-19 2019-20

jf¨vs‡ki ci iwÿZ Avq 195.78 268.74 Retained earnings after dividend 195.78 268.74

eQ‡ii wbU Avq 974.84 273.97 Net income of the year 974.84 273.97

jf¨vsk weZi‡Yi Rb¨ Total available fund for

nv‡Z _vKv †gvU A_© 1,170.62 542.70 distribution as dividend 1,170.62 542.70

cÖ¯ÍvweZ bM` jf¨vs‡ki Rb¨ Appropriation for proposed cash dividend

@ 3% (†kqvi cÖwZ 0.30 UvKv) 901.88 541.13 @ 3% (BDT 0.30 per share) 901.88 541.13

2020-21 A_©eQ‡ii Rb¨ wbix¶K wb‡qvM Ges Appointment of Auditor and fixing
remuneration for the FY2020-21
cvwikÖwgK wba©viY
As per requirement of the Companies Act, 1994, the
†Kv¤úvwb AvBb, 1994 Abyhvqx eZ©gvb mswewae× wbix¶v
current statutory auditor A. Qasem & Co. Chartered
cÖwZôvb G. Kv‡kg A¨vÛ †Kvs, PvUv©W© A¨vKvD›U¨v›Um Gi
Accountants, will retire at the 59th Annual General
wWGmBÕi 59Zg evwl©K mvaviY mfvq †gqv` †kl n‡e| Z‡e
Meeting. They have expressed their willingness to be re-
cÖwZôvbwU 2020-21 A_©eQ‡iI cybtwb‡qvM cvIqvi Rb¨ appointed for the FY 2020-21 and the Board has
AvMÖn cÖKvk K‡i‡Q| †h‡nZz cÖwZôvbwU cybtwb‡qv‡Mi mgy`q recommended for the re-appointment of the auditor as
kZ©vewj cwicvjb K‡i‡Q, †m‡nZz wWGmBÕi cwiPvjbv cl©`I they complied with the terms and conditions for re-
cÖwZôvbwU‡K cybivq mswewae× wbix¶K wn‡m‡e cybtwb‡qv‡Mi appointment.
mycvwik K‡i‡Q| In the 58th annual general meeting A. Qasem & Co.,
wWGmBÕi 58Zg evwl©K mvaviY mfvq PvU©vW© A¨vKvD›U¨v›Um Chartered Accountants was appointed as the auditor of
dvg©, Kv‡kg GÛ †Kvs †K 3 (wZb) j¶ UvKv cvwikÖwgK w`‡q DSE till 59th annual general meeting with remuneration

59Zg evwl©K mvaviY mfv ch©šÍ wbix¶K wbhy³ Kiv n‡qwQj| of BDT 3 (Three) Lakh only. The remuneration of BDT 3
(Three) Lakh was approved by the shareholders against
wbix¶K dvg© 5 j¶ UvKvi Av‡e`b Ki‡j wWGmB †evW©
BDT 5 (Five) Lakh asked by the auditor and DSE Board
KZ©…K 4 (Pvi) j¶ UvKv mycvwik K‡i| †kqvi‡nvìvi‡`i
recommendation of BDT 4 (Four) Lakh only.
Aby‡gv`‡bi Rb¨ Dc¯’vcb Ki‡j 3 (wZb) j¶ UvKv
As per provisions of the Companies Act, 1994 DSE
cvwikÖwgK Aby‡gv`b K‡ib|
issued appointment letter to them on January 1, 2020.
†Kv¤úvwb AvBb, 1994 Gi weavb Abymv‡i wWGmB 1 A. Qasem & Co. refused the appointment with
Rvbyqvix, 2020 Zvwi‡L wb‡qvM cÎ Rvwi K‡i| Kv‡kg GÛ remuneration of BDT 3 (Three) Lakh only. Upon
†Kvs 3 (wZb) j¶ UvKv cvwikÖwg‡K wb‡qvM cÖZ¨vL¨vb K‡i| negotiation, they expressed their consent to accept the

c‡i Av‡jvPbv mv‡c‡¶ wWGmBÕi wbix¶K wnmv‡e wb‡qv‡Mi appointment as auditor of DSE subject to payment of

126 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

†¶‡Î 3 (wZb) jÿ UvKv cvwikÖwg‡Ki AwZwi³ 2 (`yB) j¶ BDT 2 (Two) Lakh only as Out of Pocket Expenses (OPE)
UvKv c‡KU LiP (IwcB) wn‡m‡e cÖ¯Ív‡ei †cÖwÿ‡Z wbixÿK apart from their remuneration of BDT 3 (Three) Lakh
only.
wn‡m‡e KvR Kivi m¤§wZ cÖKvk K‡ib|
Then the Board of DSE approved BDT 2 (Two) Lakh only
AZc‡i wWGmB cl©` Zv‡`i c‡KU LiP wn‡m‡e 2 (`yB) j¶
as Out of Pocket Expenses apart from their
UvKv Aby‡gv`b K‡i| GwU †kqvi‡nvìvi‡`i Aby‡gv`‡bi Rb¨ remuneration of BDT 3 (Three) Lakh only. This has been
D‡jøL Kiv n‡q‡Q| placed for approval of the shareholders.

cwiPvjK wb‡qvM Appointment of Directors

The board of directors of DSE comprising 13
13 m`m¨ wewkó wWGmBÕi cwiPvjbv cl©‡`i g‡a¨ 7 Rb
members of which 7 are independent. Among the 07
¯^Zš¿ cwiPvjK| 7 Rb ¯^Zš¿ cwiPvjK‡`i g‡a¨ 6 Rb ¯^Zš¿
Independent Directors the position of 06
cwiPvjK h_vµ‡g Aa¨vcK Wt Aveyj nv‡kg, wePvicwZ Independent Directors namely Professor Dr. Abul
wQwÏKyi ingvb wgqv, wg‡mm g‡bvqviv nvwKg Avjx, IqvwjDj Hashem,) Justice Siddiqur Rahman Miah, Ms.
Bmjvg, Aa¨vcK W. Gg. Kvq‡Kvev` Ges Aa¨vcK †gvt Monowara Hakim Ali, Waliul Islam, Professor Dr. M.
gvmy`yi ingvb, wcGBPwW-Gi †gqv` 12 †deªæqvwi, 2020 Kaykobad and Professor Md. Masudur Rahman, PhD
were expired on February 12, 2020. DSE has
Zvwi‡L †kl nq| D³ QqwU c` c~i‡Yi Rb¨ 9 †deªæqvwi
recommended 18 names to the Regulatory Authority
2020 Zvwi‡L wbqš¿K ms¯’v evsjv‡`k wmwKDwiwUR A¨vÛ
Bangladesh Securities and Exchange Commission to
G·‡PÄ Kwgk‡b wWGmBÕi cÿ †_‡K AvBb Abyhvqx 18
fill these six posts on February 09, 2020. Based on
R‡bi bvg cÖ¯Íve Kiv nq| wWGmBÕi D³ cÖ¯Ívebvi †cÖwÿ‡Z the DSE's proposal, BSEC approved 06 persons as
weGmBwm 19 †deªæqvwi 2020 Zvwi‡L XvKv ÷K G·‡PÄ independent directors of DSE on February 19, 2020
(†evW© GÛ A¨vWwgwb‡÷ªkb) †i¸‡jkbm 2013 Abyhvqx 6 as per (Board and Administration) regulations 2013

(Qq) Rb e¨w³‡K wWGmBÕi ¯^Zš¿ cwiPvjK wnmv‡e Aby‡gv`b of DSE. They are Md. Eunusur Rahman, Professor
Md. Masudur Rahman, PhD, Mrs. Salma Nasreen
†`b| Zviv n‡jb †gvt BDbymyi ingvb, Aa¨vcK W. †gvt
ndc, Md. Muntakim Ashraf, Habibullah Bahar and
gvmy`iy ingvb wcGBPwW, wg‡mm mvjgv bvmixb GbwWwm, †gvt
Professor A. K. M. Masud, PhD with effect from
gybZvwKg Avkivd, nvweeyjøvn evnvi Ges Aa¨vcK G. †K. February 19, 2020 as per provision of Dhaka Stock
Gg. gvmy`, wcGBPwW| ¯^Zš¿ cwiPvjKM‡Yi g‡a¨ Aa¨vcK Exchange (Board and Administration) Regulations,
†gvt gvmy`yi ingvb, wcGBPwW 2q †gqv‡` wb‡qvM cÖvß nb| 2013. Among the newly Independent Directors,
24 †deªæqvwi, 2020 Zvwi‡L 951Zg cl©` mfvq Professor Md. Masudur Rahman, PhD got

cwiPvjKe„›` me©m¤§wZµ‡g †gvt BDbymiy ingvb‡K XvKv ÷K appointment for the 2nd tenure. On February 24,
2020 Mr. Md. Eunusur Rahman was elected as the
G·‡PÄ wjt Gi cwiPvjbv cl©‡`i †Pqvig¨vb wn‡m‡e wbe©vwPZ
Chairman of the Board of Directors of DSE by the
K‡ib|
Board unanimously.
†kqvi‡nvìvi cwiPvjK, Rbve wgbnvR gvbœvb Bgb 2 Ryb, Shareholder Director, Mr. Minhaz Mannan Emon was
2020 ZvwiL †_‡K wZb gv‡mi AwaK mgq a‡i cwiPvjbv absent in total 13 consecutive Board meetings held
cl©‡`i Aby‡gv`b QvovB 2020 mv‡ji 1 †m‡Þ¤^i mgvß over a period of three months’ starting from June 2,

13 wU cl©` mfvq Abycw¯’Z wQ‡jb| †Kv¤úvwb AvBb 1994 2020 and ending on September 1, 2020 without

DSE ANNUAL REPORT n­2019-20

127
 Gi aviv 108 (1) (P), XvKv ÷K G·‡PÄ (†evW© GÛ having been granted leave of absence from the

A¨vWwgwb‡÷ªkb) †i¸‡jkb, 2013 Gi aviv 5 (4) (we) Ges Board of Directors of DSE. According to Section 108
(1)(f) of the Companies Act, 1994, Regulation 5(4)(b)
wWGmBÕi AvwU©‡Kjm Ae G‡mvwm‡qk‡bi Aby‡”Q` 119 (2)
of the Dhaka Stock Exchange (Board and
Ges 130 (wm) Abyhvqx Rbve wgbnvR gvbœvb Bgb-Gi
Administration) Regulations, 2013, Article 119 (ii)
cwiPvjK c`wU 2 †m‡Þ¤^i 2020 Zvwi‡L k~b¨ nq Ges 26 and 130 (c) of the Articles of Association of Dhaka
†m‡Þ¤^i 2020 Zvwi‡L cwiPvjbv cl©` wWGmBi 968 Zg Stock Exchange Limited, the office of Director of Mr.
†evW© mfvq welqwU wbwðZ K‡i‡Q| Minhaz Mannan Emon was fallen vacant on
September 2, 2020 by operation of law and the
ˆbwgwËK k~b¨c` c~iY Ki‡Z, 8 A‡±vei 2020 wWGmBÕi
Board of Directors confirmed such vacation of office
cwiPvjbv cl©‡`i 970Zg †evW© mfvq wWGmBÕi in the 968th Board meeting of DSE held on September
†kqvi‡nvìvi †Kv¤úvwb ÷vwj©s ÷Km GÛ wmwKDwiwUR wj. 26, 2020.
Gi †Pqvig¨vb †gvt wmwÏKyi ingvb, XvKv ÷K G·‡PÄ To fill up the casual vacancy, the Board of Directors
wjwg‡U‡Wi cwiPvjbv cl©‡`i GKRb †kqvi‡nvìvi cwiPvjK in the 970th Board meeting held on October 8, 2020

wnmv‡e g‡bvbxZ n‡q‡Qb| wWGmBÕi †kqvi‡nvìvi appointed Mr. Md. Siddiqur Rahman, Chairman &
Shareholder Representative of Sterling Stocks and
cwiPvj‡Ki GKwU c` k~b¨ nIqvq †Kv¤úvwbR AvBb 1994
Securities Limited (Shareholder Company of DSE) as
Ges wWGmB AvwU©‡Kjm& Ae G‡mvwm‡qkb Abyhvqx wZwb Shareholder Director in the vacant position of Board
†kqvi‡nvìvi cwiPvjK wn‡m‡e wbhy³ nb| D‡jøL¨ †h, of Directors of DSE in accordance with the provisions
†Kv¤úvwbR AvBb Gi weavb Abyhvqx wZwb wWGmBÕi 59Zg of Companies Act, 1994 and Articles of Association

evwl©K mvaviY mfvq Aemi MÖnY Ki‡eb| of DSE. He will retire in the 59th Annual General
Meeting of DSE.

cwiPvjK AveZ©b I wbe©vPb Rotation and Election of Directors

XvKv ÷K G·‡PÄ wjwg‡U‡Wi msN¯§vi‡Ki 140 Aby‡”Q` Following the provision of Article 140 of the Articles of
Abyhvqx, wWGmBÕi †kqviavix cwiPvjK †gvt wmwÏKzi ingvb Association of Dhaka Stock Exchange Limited, Director-
wWGmBÕi cwiPvjbv cl©` †_‡K 59Zg evwl©K mvaviY mfvq Md. Siddiqur Rahman will retire from the Board of
Directors of DSE at the 59th Annual General Meeting.
Aem‡i hv‡eb| msN¯§vi‡Ki weavb Abyhvqx †gvt wmwÏKzi
The position will be filled-up through election conducted
ingvb-Gi Aem‡ii d‡j k~b¨ nIqv GKwU cwiPvjK c`
by the Election Commission of DSE in pursuant to the
wbe©vP‡bi gva¨‡g c~iY n‡e|
relevant provisions of the Articles of Association of DSE.

wbe©vPb Kwgkb Election Commission

†kqviavix cwiPvj‡Ki GKwU c` c~i‡Yi j‡ÿ¨ wWGmB With a view to conducting election DSE Board of

AvwU©‡Kjm Ae G‡mvwm‡qkb-Gi weavb Abyhvqx wWGmB cl©` Directors, as per DSE Articles of Association, has formed

GKwU wbe©vPb Kwgkb MVb K‡i| wbe©vPb Kwgk‡bi m`m¨e„›` 3 (Three) member Election Commission. The Chairman
of the commission is Md. Abdus Samad, Retired Judge
h_vµ‡g nvB‡KvU© wWwfk‡bi evsjv‡`k mywcÖg †KvU©-Gi
of the Supreme Court of Bangladesh, High Court
AemicÖvß wePviK †gvt Avãym mvgv` †Pqvig¨vb I Avjx

128 wWGmB evwl©K cÖwZ‡e`b n­2019-20

wmwKDwiwUR wj.-Gi †Pqvig¨vb Gg. AvKei Avjx Ges nviæb Division and M. Akbar Ali, Chairman of Ali Securities

wmwKDwiwUR wj.-Gi e¨e¯’vcbv cwiPvjK, nviæbyi iwk` Co. Limited and Harunur Rashid, Managing Director of
Harun Securities Limited are the members of the
m`m¨|
commission.

e¨e¯’vcbv cwiPvjK wb‡qvM

Appointment of Managing Director
12 RyjvB, 2019 †_‡K e¨e¯’vcbv cwiPvj‡Ki c`wU k~b¨
The position of Managing Director had become
wQj| wWGmBÕi cÖ¯Ív‡ei †cÖw¶‡Z weGmBwm 23 Rvbyqvix
vacant on July 12, 2019. In response to the proposal
2020 Zvwi‡L XvKv ÷K G·‡PÄ (†evW© GÛ
of DSE, BSEC on January 23, 2020 approved the
A¨vWwgwb‡÷ªkb) †i¸‡jkb, 2013 Abyhvqx KvRx QvbvDj appointment of Kazi Sanaul Hoq as the Managing
nK‡K wWGmBÕi e¨e¯’vcbv cwiPvjK wn‡m‡e wZb eQi Director of DSE for a tenure of 3 years’ subject to
†gqv‡` wb‡qv‡Mi Aby‡gv`b †`b| compliance of Dhaka Stock Exchange (Board and
Administration) Regulations, 2013.
KvRx QvbvDj nK 9 †deªæqvix, 2020 Zvwi‡L wWGmBÕi
Kazi Sanaul Hoq joined DSE on February 09, 2020
Kg©KZ©v‡`i †¶‡Î cÖ‡hvR¨ Ab¨vb¨ mvaviY myweavmn †gvU
with monthly gross salary BDT 8 Lakh with other usual
gvwmK †eZb 8 j¶ UvKvq wWGmB‡Z †hvM`vb K‡ib| KvRx
benefits applicable for the employees of DSE. Till the
QvbvDj n‡Ki †hvM`v‡bi c~‡e© wWGmBÕi cÖavb A_© Kg©KZ©v joining of Kazi Sanaul Hoq, Abdul Matin Patwary,
Ave`yj gwZb cvUIqvix e¨e¯’vcbv cwiPvjK (BbPvR©) wn‡m‡e FCMA, Chief Financial Officer of DSE was the in-
`vwqZ¡ cvjb KiwQ‡jb| charge of the office of Managing Director.

e¨e¯’vcbv cwiPvj‡Ki c`wU k~b¨ n‡j cwiPvjbv cl©` AvBb If the position of Managing Director be vacated the
Board of Directors will appoint Managing Director
Abyhvqx Dchy³ cvwikÖwg‡K 1 Rb e¨e¯’vcbv cwiPvjK wb‡qvM
with required salary and other benefits in accordance
Ki‡eb|
with Rules and Regulations.

miKvwi †KvlvMv‡i Ae`vb Contribution to National Exchequer

2019-20 A_©eQ‡i wWGmB 1,261.11 wgwjqb UvKv miKvwi The contribution of DSE to the National Exchequer for

†KvlvMv‡i Rgv w`‡q‡Q, hv Av‡Mi eQi 2018-19 A_©eQ‡ii the FY 2019-20 of BDT 1,261.11 mn which
represents 60.61% lower
†P‡q 60.61 kZvsk Kg|
as compare to that of FY
AvqKi Aa¨v‡`k-1984
1,047.33
1,590.26

2018-19. Out of which

1,460.21
Amount BDT in mn

741.20

†mKkb 53wewewe, 53Gg,

565.99

BDT 780.29 mn, BDT

347.71

345.73
780.29

53Gb Ges 54 Abyhvqx 345.73 million, BDT 9.11

128.67

125.97
43.49

h_vµ‡g 780.29 wgwjqb, mn and BDT 125.97 mn

9.11

345.73 wgwjqb, 9.11 2017-18 2018-19 2019-20 paid under section

Year
wgwjqb Ges 125.97 53BBB, 53M, 53N and
Collection of tax from TREC holder Collection of tax from transfer of securities or
of Stock Exchanges (U/S 53BBB) mutual fund units by sponsor shareholders
of a company (U/S 53M) 54 of the Income Tax
wgwjqb UvKv Rgv †`Iqv
Collection of Tax on Share Transfer Collection of Tax on on shareholders'
of Exchange (U/S 53N) dividend income (54) Ordinance, 1984
n‡q‡Q|
respectively.

DSE ANNUAL REPORT n­2019-20

129
 (wgwjqb UvKvq) (BDT Million)

†mKkb A_©eQi A_©eQi A_©eQi Section FY FY FY

2017-18 2018-19 2019-20 2017-18 2018-19 2019-20

53 wewewe 1,590.26 1,459.55 780.29 53BBB 1,590.26 1,459.55 780.29

53 Gg 741.20 1,047.33 345.73 53M 741.20 1,047.33 345.73

53 Gb 43.49 565.99 9.11 53N 43.49 565.99 9.11

54 347.71 128.67 125.97 54 347.71 128.67 125.97

†gvU 2,374.96 3,073.53 1,261.10 Total 2,374.96 3,073.53 1,261.10

K…ZÁZv ¯^xKvi Acknowledgements

On behalf of the Board of Directors of DSE, I wish to
msKUKvjxb mg‡q Dbœq‡bi PvKv mPj ivL‡Z wewfbœ cª‡Yv`bv
express my appreciation to the Government for taking
†NvlYvi gva¨‡g h_vh_ D‡`¨vM Mªn‡Yi Rb¨ Avwg cwiPvjbv appropriate initiatives at the time of crisis by declaring
cl©‡`i cÿ †_‡K miKv‡ii cªwZ K…ZÁZv cªKvk KiwQ| incentives for keeping the development wheel at run.
cwiPvjbv cl©` †`‡ki cyuwRevRvi‡K A_©‰bwZK gyw³i †K›`ª The Board of Directors would like to convey their
heartiest thanks to the Honourable Prime Minister and
wnmv‡e M‡o †Zvjvi w`K&wb‡`©kbv I bxwZMZ mnvqZvi Rb¨
the Finance Minister, Government of the People's
MYcªRvZš¿x evsjv‡`k miKv‡ii gvbbxq cªavbgš¿x I A_©gš¿xi
Republic of Bangladesh, for their policy support,
cªwZ AvšÍwiK ab¨ev` Rvbvw”Q| Zv‡`i me©vZ¥K mn‡hvwMZvi guideline to make the capital market as a hub for
Rb¨ Avwg A_© gš¿bvjq, cwiKíbv gš¿bvjq, WvK, economic emancipation of the country. I would also like

†Uwj‡hvMv‡hvM I Z_¨ cªhyw³ gš¿bvjq, RvZxq ivR¯^ †evW© to thank Ministry of Finance (MoF), Ministry of Planning,
Ministry of Post, Telecommunications & Information
(GbweAvi) †K ab¨ev` Rvbvw”Q| h_vh_ †bZ„Z¡, avivevwnK
Technology, National Board of Revenue (NBR) for their
w`K&wb‡`©kbv Ges Zvrch©c~Y© cªwZwµqvi Rb¨ evsjv‡`k utmost co-operation. Gratitude is due to Bangladesh
wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi cÖwZ K…ZÁZv RvbvB| Securities and Exchange Commission (BSEC) for its
†kqvi‡nvìvi‡`i AKyÉ mg_©‡bi Rb¨ K…ZÁZv ¯^xKvi KiwQ| proper leadership, consistent guidance and proactive
responses. The Board also acknowledges gratefully for
GKB mv‡_ evsjv‡`k e¨vsK, wWGmB †eªvKvm© G‡mvwm‡qkb
the unstinted support of shareholders. Board also likes
Ad evsjv‡`k (wWweG), †m›Uªvj wW‡cvwRUwi evsjv‡`k wjt
to convey thanks to Bangladesh Bank, DSE Brokers
(wmwWweGj), evsjv‡`k gv‡P©›U e¨vsKvm© G‡mvwm‡qkb Association of Bangladesh (DBA), Central Depository
(weGgweG), evsjv‡`k G‡mvwm‡qkb Ae cvewjKwj wj‡÷W Bangladesh Limited (CDBL), Bangladesh Merchant

†Kv¤úvwbR (weGwcGjwm), e¨vsKvm© G‡mvwm‡qkb Ae Bankers Association (BMBA), Bangladesh Association

of Publicly Listed Companies (BAPLC), Bankers
evsjv‡`k (weGwe), G‡mvwm‡qkb Ae e¨vsKvm© evsjv‡`k
Association of Bangladesh (BAB), Association of
(Gwewe), evsjv‡`k wjwRs A¨vÛ wdbvÝ †Kv¤úvwbR
Bankers Bangladesh (ABB), Bangladesh Leasing and
G‡mvwm‡qkb, G‡mvwm‡qkb Ae A¨v‡mU g¨v‡bR‡g›U Finance Companies Association, The Association of
†Kv¤úvwbR A¨vÛ wgDPyqvj dvÛm, evsjv‡`k Bbw÷wUDU Ad Asset Management Companies and Mutual Funds,

130 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

K¨vwcUvj gv‡K©U (weAvBwmGg), evsjv‡`k BÝy¨‡iÝ Bangladesh Institute of Capital Market (BICM),
Bangladesh Insurance Association (BIA), TREC holders,
G‡mvwm‡qkb (weAvBG), †UªK‡nvìvi, gv‡P©›U e¨vsK, wcª›U,
Merchant Banks, reporter of print electronic and online
B‡j±ªwbK Ges AbjvBb wbDR †cvU©v‡ji mvsevw`Ke„›` hviv
news portal who extended the much needed support
wWGmB Ges cyuwRevRvi‡K Ae¨vnZ mg_©b Ges mn‡hvwMZv and cooperation to DSE in particular and the capital
w`‡q‡Qb Zv‡`i cªwZ K…ZÁZv cªKvk KiwQ| market in general.

Ae‡k‡l, Avwg ÷K G·‡P‡Äi AMÖMwZi aviv GwM‡q wb‡q Finally, I would like to convey my special thanks to the
management team and the staff member of DSE for
hvIqvq wbijm cwikª‡gi Rb¨ e¨e¯’vcbv Ges wWGmBÕi mKj
their diligent efforts in driving the operating wheel of
Kg©KZ©v-Kg©Pvix‡`i we‡kl fv‡e ab¨ev` Rvbvw”Q|
the Exchange forward.

cwiPvjbv cl©‡`i c‡¶ On behalf of the Board

†gvt BDbymyi ingvb Md. Eunusur Rahman

†Pqvig¨vb Chairman
XvKv ÷K G·‡PÄ wjwg‡UW Dhaka Stock Exchange Limited

December 3, 2020
wW‡m¤^i 3, 2020

DSE ANNUAL REPORT n­2019-20

131
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

The stock market is filled

with individuals
who know the price of everything,
but the value of nothing.
- Phillip Fisher
 Avmbœ Dbœqb
UPCOMING DEVELOPMENTS
 GB A‡ji Ab¨Zg kxl©¯’vbxq G·‡PÄ n‡q IVv wWGmBÕi The vision of DSE is to become one of the leading
j¶¨| GB j¶¨ AR©‡b GwU wewfbœ Dbœqbg~jK D‡`¨vM MÖnY K‡i exchanges of this region. With this aim it has been
taking various development initiatives with a view to
Avm‡Q| †KŠkjMZ Askx`vi‡`i mn‡hvwMZvq, wWGmB GKwU
achieving its goal. With the collaboration of strategic
mwµq, b¨vh¨ Ges AskMÖnYg~jK gv‡K©U‡cøm mieivn Ki‡Z KvR
partners, DSE equipped itself to provide an active, fair
K‡i hv‡”Q|
and participative marketplace.

miKvwi wmwKDwiwU‡Ri †jb‡`b Trading of Government Securities

miKvwi wmwKDwiwUR †jb‡`‡bi Rb¨ weGmBwm, evsjv‡`k e¨vsK A 9-Member Tripartite Committee comprised of
officials from BSEC, BB & DSE responsible for On-
I wWGmBÕi `vwqZ¡kxj Kg©KZv©‡`i mgš^‡q MwVZ 9 (bq)
Exchange Trading of G-Sec submitted its report to the
m`‡m¨i wÎcÿxq KwgwU 30 wW‡m¤^i, 2019 Zvwi‡L weGmBwm‡K
BSEC on December 30, 2019. All the parties (BSEC,
Zvi cÖwZ‡e`b Rgv w`‡q‡Q| mKj c¶B (weGmBwm, evsjv‡`k BB & DSE) agreed in principle to start the trading of
e¨vsK Ges wWGmB) mKj †kªwYi wewb‡qvMKvix‡`i AskMÖnY‡K the same very quickly with a view to encouraging
DrmvwnZ Kivi j‡¶¨ Lye `ªæZ wWGmBÕi gva¨‡g †`ke¨vcx, wider participation of all classes of investors and

mve©Rbxb, AW©vi-PvwjZ, w¯Œb-wfwËK †UªwWs cøvUd‡g© miKvwi proposed to launch a nation-wide, anonymous,
order-driven, screen-based trading platform by DSE
wmwKDwiwUR Pvjy Kivi wel‡q bxwZMZfv‡e m¤§Z n‡q‡Q|
for trading government securities.

wf-†b·U cøvUdg© V-Next Platform

wf-†b·U n‡”Q †kb‡Rb ÷K G·‡PÄ cwiPvwjZ GKwU µm V-Next is a cross-border capital matchmaking
eW©vi K¨vwcUvj g¨vP †gwKs cøvUdg© hv Z_¨ cÖ`k©b, A_©vqb, platform for innovation finance operated by
Shenzhen Stock Exchange (SZSE) featuring
wewb‡qvM Ges wewb‡qvMKvix I wewfbœ cÖwZôv‡bi g‡a¨ wg_w¯Œqvi
information display, financing and investment
ˆewkó¨mn GKwU AvšÍt‡`kxq Znwej ga¨¯’ZvKvix gva¨g, hv
matchmaking and interaction which attracts investors
BKz¨BwU g~jab, bZzb g~jab I †KŠkjMZ mn‡hvwMZvi gva¨‡g
in equity/venture capital and emerging-capital
wewb‡qvMKvix‡K AvK…ó K‡i| funding and strategic cooperation.
wf-†b·U A¨vjv‡qÝ cøvUdg©wU evRv‡ii eyw×gËv msnZ K‡i µq The V-Next Alliance Platform integrates market
c‡ÿi (wewb‡qvMKvix), weµq c‡ÿi (G›UvicÖvBRmg~n) Z_¨ intelligence, displays buy-side (investors) and sell-side
cÖ`k©b K‡i, evRv‡ii DbœwZ mvab K‡i Ges cÖKí Znwe‡ji (enterprises) information, cultivates the market and

mgKÿZv cwiPvjbv K‡i| conducts project-fund matching.

The platform debuted in 2014 and has already

cøvUdg©wU 2014 mv‡j hvÎv ïiæ K‡i‡Q Ges B‡Zvg‡a¨
gained international recognition. More than 40
AvšÍRv©wZK ¯^xK…wZ AR©b K‡i‡Q, Pxbmn 40 wUiI †ewk †`k
countries, including China are currently operating the
eZ©gv‡b wf-†b·U cøvUdg©wU cwiPvjbv Ki‡Q| GB †`k¸‡jvi V-NEXT platform. The potential companies of these
m¤¢ve¨ †Kv¤úvwbmg~‡ni e¨emv‡qi jÿ¨ AR©b Ges e¨emv cÖmv‡ii countries have been able to meet the capital
Rb¨ g~ja‡bi cÖ‡qvRbxqZv c~i‡Y mÿg n‡q‡Q| AbjvBb cÖhwy ³ requirements to achieve and expand business goals.
wfwËK wf-†b·U cøvUdg© wek¦e¨vcx wewb‡qvMKvix‡`i GKwU The online technology-based V-Next platform has
wgjb‡gjv n‡q D‡V‡Q| wf-†b·U we‡`wk A_v©q‡bi gva¨‡g become a worldwide gathering of investors. V-Next is
acting as a bridge for Potential sectors of a country
Kvw•LZ j‡ÿ¨ †cuŠQv‡bvi Rb¨ †KvbI †`‡ki m¤¢ve¨ LvZ¸‡jvi
to reach its desired goal through foreign financing.
†mZzeÜb wn‡m‡e KvR Ki‡Q|

134 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wWGmB Gi gv‡bvbœq‡bi Ask wn‡m‡e †kb‡Rb ÷K G·‡PÄ As a part of value addition in DSE, Shenzhen Stock
(Gm‡RWGmB) Ges wWGmB GK‡hv‡M evsjv‡`k I Px‡bi fvj Exchange (SZSE) and DSE are concurrently promoting
the V-Next Alliance program in Bangladesh to match
†gŠjwfwË m¤úbœ †Kv¤úvwbi g‡a¨ †hvMv‡hvM ¯’vc‡b evsjv‡`k
ambitious growth companies with capital in
wf-†b·U A¨vjv‡qÝ †cÖvMÖv‡gi cÖPvi Ki‡Q| †KŠkjMZ
Bangladesh and China. We have done to the extent
Askx`v‡ii mn‡hvwMZvq Avgv‡`i G AMÖMwZ n‡q‡Q| necessary progress in collaboration with the strategic
wf-†b·U m¤¢ve¨ evsjv‡`wk †Kv¤úvwb¸‡jv‡K BKz¨BwU Ges partner.

†KŠkjMZ Askx`vwiZ¡ A‡š^lY, e¨emvwqK mn‡hvwMZv AbymÜvb V-Next will facilitate potential Bangladeshi companies

Ges Px‡b e¨emv I cÖhwy ³ P¨v‡bj¸‡jvi ˆewPΨ Avbq‡b mnvqZv to explore equity and strategic partnership, seek
business collaboration, and diversify business and
K‡i| wf-†b·U Px‡b 15,000 wUiI †ewk wbewÜZ cÖvwZôvwbK
technology channels in China. V-Next has achieved
†hvM¨ wewb‡qvMKvix‡`i g~ja‡bi mv‡_ wg‡j hvIqv cÖKí¸‡jv‡Z
remarkable success in China with over 15,000
20% nv‡i D‡jøL‡hvM¨ mvdj¨ AR©b K‡i‡Q| B‡Zvg‡a¨ 7wU institutional qualified investors registered recording
†Kv¤úvwb wf-†b·U cøvUd‡g© Zv‡`i †Kv¤úvwb¸‡jv Pvjbvi †ÿ‡Î over a 20% success rate in matching projects to
AvMÖn cÖKvk K‡i‡Q| capital. Already 7 companies expressed their interest
in onboarding their companies on the V-Next
wWGmB evRv‡ii AskMÖnYKvix‡`i A_v©r kxl©¯’vbxq wewb‡qvM
platform.
e¨vsKvi/Bmy¨ g¨v‡bRvi, G¨v‡mU g¨v‡bR‡g›U †Kv¤úvwbR, †fbPvi
DSE is working on promotion and awareness
K¨vwcUvj dvg©¸‡jvi mv‡_ cÖPvi Ges m‡PZbZvg~jK ˆeVK meetings with market participants i.e. leading
Ki‡Q| investment Bankers / Issue Managers, Asset
Management Companies, Venture Capital Firms.
AvcvZZ wf-†b·U cøvUd‡g© AvMZ †Kv¤úvwb¸‡jvi
As for now, V-Next is ready and welcome to promote
msewa©ZKiY‡K ¯^vMZ Rvbv‡Z cÖ¯‘Z|
companies onto the platform.

†m›Uªvj KvD›UvicvwU© evsjv‡`k wjwg‡UW Central Counterparty Bangladesh Limited

evsjv‡`‡ki cyuwRevRv‡i A‡Uv‡gk‡bi Kvh©µg ïiæ nq Õ90-Gi Incorporation of automation in capital market in
Bangladesh started in mid-90’s towards embedding
`k‡Ki gvSvgvwS‡Z, Avw_©K-cÖhyw³ ms¯’vc‡bi gva¨‡g|
FinTech in the market. The objective was to make
evsjv‡`‡ki cyuwRevRv‡ii Ae¨vnZ AvaywbKvqb I mÿgZv e„w×i capital market more efficient by providing all
Ask wnmv‡e evRvi KZ…©cÿ Ges mswkøó Askx`viMY ÷K participants with quicker and more effective means
G·‡PÄ AvaywbKxKiY, wmwKDwiwU wW‡cvwRUwi cÖwZôv BZ¨vw` of exchanging information. As a part of the
continuous modernization and increment in capacity
D‡`¨vM MÖnY K‡ib| GiB avivevwnKZvq evsjv‡`‡ki
of capital market in Bangladesh, Market Authority
cyuwRevRv‡i GKwU hy‡Mvc‡hvMx †m›Uªvj KvD›Uvi cvwU© MV‡bi and relevant stakeholders took different initiatives
j‡ÿ¨ evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb (wK¬qvwis such as modernization of Stock Exchanges,
establishment of Securities Depository etc.. Under
A¨vÛ †m‡Uj‡g›U) wewa, 2017 cÖYxZ nq| D‡jøwLZ wewai Aax‡b
Bangladesh Securities and Exchange Commission
Rvbyqvwi, 2019 G †m›Uªvj KvD›Uvi cvwU© evsjv‡`k wjwg‡UW (Clearing & Settlement) Rules, 2017 the Central
(wmwmweGj) bv‡g GKwU †Kv¤úvwb MwVZ I wbewÜZ nq| hv Counterparty Bangladesh Limited (CCBL) has already
been incorporated in January 2019 which is another
Avgv‡`i cyuwRevRv‡i SyuwK wfwËK wK¬qvwis GÛ †mUj‡g›U †mev
milestone towards sustainable development by
cÖ`v‡bi gva¨‡g †UKmB Dbœq‡bi c‡_ Av‡iKUv eo AR©b|

DSE ANNUAL REPORT n­2019-20

135
 wmwmweGj Gi Aby‡gvw`Z I cwi‡kvwaZ g~jab h_vµ‡g 500 providing the risk based Clearing & Settlement
services in our capital market. The authorized and
†KvwU I 300 †KvwU UvKv|
paid-up capital of CCBL are BDT 500 crore and BDT
B‡Zvg‡a¨ mvZRb ¯^Zš¿ Ges cvuPRb †kqvi‡nvìvi cwiPvj‡Ki 300 crore respectively.
mgš^‡q wmwmweGj-Gi cwiPvjbv cl©` MwVZ n‡q‡Q| D³ AwfÁ CCBL Board of Directors has already formed
I `ÿ cwiPvjbv cl©‡`i Aax‡b B‡Zvg‡a¨ wKQy ¸iæZ¡cY~ © Kvh©µg comprising seven independent and five shareholder
Directors. Under this dynamic Board of Directors
ïiæ n‡q‡Q, †hgbt
some major tasks have already been started like:
1. e¨e¯’vcbv cwiPvjK Ges wmwmweG‡ji Ab¨vb¨ ¸iæZ¡cY~ © c‡` 1. Process of recruitment of Managing Directors and
wb‡qvM cÖwµqv| other positions of CCBL.
2. Office setup of CCBL at DSE Tower, Nikunja.
2. wWGmB UvIqvi wbKzćZ wmwmweG‡ji Awdm ¯’vcb|
3. Process of development of IT infrastructure
3. †WUv †m›Uvimn AvBwU AeKvVv‡gv Dbœqb cÖwµqv| including Data Centers.

wWGmB‡Z wcÖ-I‡cwbs I †K¬vwRs †mkb Pvjy Pre-opening and closing sessions on DSE

DbœZ we‡k¦i ÷K G·‡Pĸ‡jvi mv‡_ Zvj wgwj‡q wWGmB wcÖ- DSE has launched pre-opening and closing sessions
in tandem with stock exchanges in the developed
I‡cwbs I †K¬vwRs †mkb Pvjy K‡i‡Q| 20 A‡±vei 2020
world. On October 20, 2020, the Bangladesh
Zvwi‡L evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb
Securities and Exchange Commission approved the
†÷K‡nvìvi‡`i BDGwU Ges evRv‡ii m‡PZbZv m¤úbœ Kiv
launch of pre-opening sessions, closing sessions and
mv‡c‡¶ wcÖ-I‡cwbs †mkb, †K¬vwRs †mkb Ges †cv÷ †K¬vwRs post-closing sessions subject to completion of UAT
†mkb Pvjy Kivi Rb¨ Aby‡gv`b K‡i| GiB †cÖw¶‡Z wWGmB and market awareness by stakeholders. In this
22 A‡±vei 2020 Zvwi‡L kxl© 20 †U«K‡nvìvi‡`i wb‡q BDGwU context, the DSE completed the UAT with the top 20
m¤úbœ K‡i| 03 b‡f¤^i 2020 Zvwi‡L wWGmB †U«K‡nvìvi TREC Holders on October 22, 2020. On November

Ges gv‡P©›U e¨vs‡Ki cÖwZwbwae…‡›`i AskMÖn‡Y m‡PZbZvg~jK 03, 2020, DSE organized an awareness workshop
with the participation of TREC Holder and Merchant
Kg©kvjvi Av‡qvRb K‡i| wWGmB Ab¨vb¨ Kvh© m¤úv`b mv‡c‡¶
Bank representatives. On November 19, 2020 DSE
19 b‡f¤^i, 2020 ZvwiL wWGmB‡Z wcÖ-I‡cwbs I †K¬vwRs
launched pre-opening and closing sessions subject
†mkb Pvjy K‡i|
to completion of other functions.

g¨vwPs Bwćbi mv‡_ GwcAvB ¯’vcb API Communication with the Matching Engine
AW©vi g¨v‡bR‡g›U wm‡÷g (IGgGm) Ges †d¬·wUwci Dci Pvc To reduce load from OMS, FlexTP, DSE has taken
Kgv‡Z, ˆewk¦K PP©vi Av‡jv‡K AvMÖnx †U«K‡nvìvi initiative to provide API (Application Programming
†Kv¤úvwb¸‡jv‡K GwcAvB ev Gwcø‡Kkb †cÖvMÖvwgs B›Uvi‡dm Interface) connection to the interested TREC holder

ms‡hvM cÖ`v‡bi D‡`¨vM †bqv n‡q‡Q| Gi gva¨‡g †U«K‡nvìvi companies in light with the best practice of

†Kv¤úvwb¸‡jv Zv‡`i wbR¯^ AW©vi g¨v‡bR‡g›U wm‡÷g worldwide, through which the TREC holder company
may develop their own OMS to bring more efficiency
(IGgGm) ˆZwi Ki‡Z cvi‡e, hv e¨emvwqK Kvh©µg‡K AviI
in the trading activities.
`¶Zv G‡b †`‡e|

136 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

wbixÿv I SuywK e¨e¯’vcbv KwgwUi cÖwZ‡e`b
AUDIT AND RISK MANAGEMENT COMMITTEE REPORT
f~wgKv Preface
The Audit and Risk Management Committee
wbixÿv I SuywK e¨e¯’vcbv KwgwU XvKv ÷K G·‡PÄ (†evW© A¨vÛ
(A&RMC) has been formed as per Regulation 15(3)
A¨vWwgwb‡÷ªkb) †i¸‡jkÝ, 2013 Gi †i¸‡jkb 15(3) of the Dhaka Stock Exchange Limited (Board and
Abyhvqx MwVZ nq| GUv wbqgZvwš¿Kfv‡e MwVZ cuvPwU †evW© Administration) Regulations, 2013. It is one of the 5
Board Committees duly formed and empowered to
KwgwUi GKwU, hv XvKv ÷K G·‡P‡Ä AwaKZi mykvmb wbwðZ
ensure superior corporate governance for Dhaka
Kivi †ÿ‡Î ÿgZvcÖvß| wbixÿv I SzuwK e¨e¯’vcbv KwgwU Stock Exchange Limited. A&RMC assists the Board in
†Kv¤úvwbi Kg©Kv‡Ð I Avw_©K cÖwZ‡e`‡bi mwVK wPÎ Ges e¨emv ensuring that the financial statements reflect true and
fair view of the state of affairs of the company and in
ch©‡eÿ‡Y mwVK c×wZ wbwðZ Ki‡Z cl©`‡K mnvqZv K‡i|
ensuring a good monitoring system within the
KwgwU cl©‡`i Kv‡Q `vqe×| wbixÿv I SzuwK e¨e¯’vcbv KwgwUi business. The Committee is responsible to the Board;
`vwqZ¡ m¤ú‡K© (†evW© GÛ GWwgwb‡÷ªkb) †i¸‡jkb-2013 †Z the duties of the A&RMC have been clearly set forth
in writing on Dhaka Stock Exchange (Board and
my¯úófv‡e wjwce× Av‡Q| Administration) Regulations, 2013.

KwgwUi MVb I KvVv‡gv Composition of the Committee:

The Committee comprises of 5 (five) members
G·-AwdwmI m`m¨ wn‡m‡e e¨e¯’vcbv cwiPvjKmn cuvP Rb
including Managing Director who is also an ex-officio
m`m¨ wb‡q G KwgwU MwVZ| Gi g‡a¨ KwgwUi †Pqvig¨vbmn wZb member. Out of which 3 (three) members including
Rb ¯^Zš¿ cwiPvjK Ges evKx GKRb †kqvi‡nvìvi cwiPvjK| the Chairman are from Independent Directors. The
wewa †gvZv‡eK KwgwUi mKj m`m¨ Avw_©K wel‡q Ávbx I `ÿ rest one is Shareholder Director member of the
Committee. All the members of the Committee are
Ges Zviv wbixÿv KwgwUi m`m¨ wn‡m‡e Zv‡`i `vwqZ¡ financially literate have sufficient knowledge to
h_vh_fv‡e cvj‡bi Rb¨ Avw_©K cÖwZ‡e`b we‡kølY I e¨vL¨v understand financial statements and have experience
Ki‡Z mÿg Ges †mUv Zviv K‡i _v‡K| 2018-19 A_©eQ‡i G in corporate management and professional dealings.
The chairman of the committee for Financial Year
KwgwUi †Pqvig¨vb wn‡m‡e Aa¨vcK †gvt gvmy`yi ingvb,
2018-19, Professor Dr. Md. Masudur Rahman was
wcGBPwW 58Zg evwl©K mvaviY mfvq Dcw¯’Z wQ‡jb| MZ 28 present at the 58th Annual General Meeting.

DSE ANNUAL REPORT n­2019-20

137
 A‡±vei 2020 Zvwi‡L wbixÿv I SzuwK e¨e¯’vcbv KwgwU The A&RMC was last re-constituted on October 28,

wb¤œwjwLZ cl©` m`‡m¨i mgš^‡q cybM©wVZ nq : 2020 with the following Board Members:

1. wg‡mm mvjgv bvmixb GbwWwm †Pqvig¨vb 1 Mrs. Salma Nasreen ndc Chairman

2. Aa¨vcK †gvt gvmy`yi ingvb, wcGBPwW m`m¨ 2 Professor Md. Masudur Rahman, PhD Member

3. Rbve †gvt gybZvwKg Avkivd m`m¨ 3 Mr. Md. Muntakim Ashraf Member

4. Rbve †gvnv¤§` kvnRvnvb m`m¨ 4 Mr. Mohammad Shahjahan Member

5. KvRx mvbvDj nK m`m¨ 5 Kazi Sanaul Hoq Member

The secretarial functions of the committee are

KwgwUi mvwPweK Kvh©µg †Kv¤úvwb mwP‡ei gva¨‡g m¤úbœ Kiv
discharged by the Company Secretary. The Chief
nq| cÖavb Avw_©K Kg©KZ©v (wmGdI) Ges Af¨šÍixY wbixÿv Financial Officer (CFO) and Head of Internal Audit
attend the meetings through invitation.
kvLvi cÖavb mfvq Avgš¿Yµ‡g Dcw¯’Z _v‡Kb|

Committee Meetings and Attendance

KwgwUi mfv I Dcw¯’wZ
During the financial year ended June 30, 2020, five
30 Ryb 2020 ZvwiL †kl nIqv Avw_©K eQ‡i wbixÿv I SuywK (05) meetings of the Audit and Risk Management
e¨e¯’vcbv KwgwUi cuvP (5) wU ˆeVK AbywôZ nq| cÖvwZôvwbK Committee were held. The details of the attendance
of the members have been shown in the page of 72
mykvm‡bi cÖwZ‡e`‡b m`m¨‡`i Dcw¯’wZi we¯ÍvwiZ weeiY GB evwl©K
of the annual report.
cÖwZ‡e`‡bi 70 c„ôvq †`Lv‡bv n‡q‡Q|

Major areas have been dealt by Audit & Risk

30 Ryb 2020 Avw_©K eQ‡ii wbixÿv I SzuwK e¨e¯’vcbv KwgwU Management Committee during the financial
KZ„©K cwiPvwjZ cÖavb Kvh©µg¸‡jv wb¤œiƒc: year ended on June 30, 2020:

Avw_©K cÖwZ‡e`b: Financial Reporting

• Reviewed the Management’s Letters issued by
• bxwiÿK‡`i Øviv Bmy¨K…Z e¨e¯’vcbv KZ…©c‡ÿi cÎ
auditors, administrator of the financial reporting
ch©v‡jvPbv, Avw_©K cÖwZ‡e`b cÖwµqv cwiPvjbv I Dchy³ process and monitored on choice of accounting
wnmvebxwZi Ici bRi †i‡L‡Q| policies and principles appropriate to the
exchange.
• gvwmK, ˆÎgvwmK, Aa©evwl©K Avw_©K wee„wZ Ges Ab¨vb¨
• Reviewed the monthly, quarterly, half yearly
Avw_©K djvdj ch©v‡jvPbv I PwiZv_©Zvi Dci cl©‡` financial statements and other financial results of
cÖ‡qvRbxq mycvwik cÖ`vb K‡i‡Q| the exchange and upon its satisfaction;
recommended the same to the Board.
• mKj c‡ÿi †jb‡`b wee„wZ cixÿv K‡i‡Q Ges e¨e¯’vcbvi
• Examined the statement of all related party
`vwLjK…Z mvsNwl©K welq¸‡jvi Ici cÖwZ‡e`b w`‡q‡Q| transactions and the report on conflict of interest
• Avw_©K eQ‡ii Rb¨ wWGmBÕi Lmov evwl©K ev‡RU ch©v‡jvPbv submitted by the management.

Ges cl©‡`i Aby‡gv`‡bi Rb¨ mycvwik K‡i‡Q| • Examined the draft annual budget of DSE for the
financial year 2020-21 and recommended the
• gvwmK ev‡R‡Ui wewfbœ Awgj-msµvšÍ cÖwZ‡e`b Av‡jvPbv same for approval of the Board.
I ch©v‡jvPbv Kiv Ges wWGmBÕi m¤ú‡`i `ÿ e¨envi, Avq • Reviewed and discussed monthly budget variance
e„w× Ges wewfbœ wbqš¿Y‡hvM¨ LiP Kgv‡bvi Rb¨ report and suggested management to the area
and depth of income and reduce controllable
e¨e¯’vcbv‡K wewfbœ civgk© cÖ`vb K‡i‡Q| expenses.

138 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

• KwgwU evwl©K cÖwZ‡e`bmn Ab¨vb¨ wewae× cÖwZ‡e`b wbw`©©ó • The committee ensured that the annual report
and other statutory statements submitted to the
mg‡qi g‡a¨ wbqš¿K ms¯’v¸‡jv‡Z †cÖiY wbwðZ K‡i‡Q|
regulators within the time frame.

Af¨šÍixY wbqš¿Y Ges SzuwK e¨e¯’vcbv cÖwµqv Internal Control and Risk Management process
• †Kv¤úvwbi Af¨šÍixY wbqš¿Y e¨e¯’vi Kvh©KvwiZv chv©‡jvPbv • The Committee is continuously reviewing the
Kivi cvkvcvwk wWGmBÕi Rb¨ cÖ‡hvR¨ AvBb, wewagvjv I effectiveness of the system of internal controls
within the company as well as reviewed the extent
bxwZgvjv, cwiKíbv I c×wZ¸‡jv Kx cwigvY cwicvjb Kiv of compliance with applicable laws, regulations
n‡q‡Q Ges KZUv Kvh©Ki n‡q‡Q Zv KwgwU ch©‡eÿY K‡i‡Q and policies, plans and procedures of DSE.
wKbv Zv ch©v‡jvPbv K‡i‡Q| • Examined the fund management policies and
• wWGmBÕi Znwej e¨e¯’vcbv bxwZ I c×wZ cixÿv Ges procedures of DSE, provided suggestions from
time to time for efficient fund management giving
Znwe‡ji myiÿv I wbivcËvi Ici †Rvo w`‡q `ÿ Znwej
emphasis on the safety and security of fund as first
e¨e¯’vcbvi Rb¨ wewfbœ mg‡q civgk© cÖ`vb K‡i‡Q| priority.
• G·‡PÄ Øviv M„nxZ SzuwK e¨e¯’vcbv Abyhvqx e¨e¯’vcbv • Evaluated the management roles and
KZ…©c‡ÿi f~wgKv, `vwqZ¡, mykvmb cwicvjb I Abykxjb responsibilities in line with the appropriate risk
management, compliance and governance
g~j¨vqb K‡i‡Q|
practices adopted by the exchange.
• KwgwU wbwðZ K‡i‡Q †h, wWGmBÕi Af¨šÍixY wbqš¿Y • The committee ensured that the system of internal
e¨e¯’vwU my`„pfv‡e eySv Ges Kvh©Kifv‡e cwiPvwjZ Ges controls of DSE is soundly conceived and in place,
wbqwgZ ch©‡eÿb Kiv nq| effectively administered and regularly monitored.
• The committee recommended guidance and
• KwgwU ZvwjKvfz³ †Kv¤úvwb¸‡jv †_‡K `xN©‡gqv`x Ges
suggestions and monitored regularly about the
eZ©gvb e‡Kqv msMÖ‡ni wel‡q w`Kwb‡`©kbv Ges civg‡k©i collections of long term and current dues from
mycvwik K‡i‡Q Ges wbqwgZ ch©‡eÿY Ki‡Q| listed companies.

Internal Audit
Af¨šÍixY wbixÿv
• Reviewed the annual audit plan to ensure
• wbixÿY Kvh©µ‡gi chv©ß my‡hvM Ges we¯Í„Z AvIZv wbwðZ adequate scope and comprehensive coverage of
Kivi Rb¨ evwl©K wbixÿY cwiKíbv chv©‡jvPbv Kiv nq Ges audit activities and accordingly approved the
cwiKíbv Aby‡gvw`Z nq| audit plan for the FY 2019-20.
• Reviewed the internal audit report encompassing
• Af¨šÍixY wbixÿv cÖwZ‡e`‡bi g‡a¨ i‡q‡Q wbixÿ‡Yi the audit issues, audit recommendations and the
welqvw`, wbixÿ‡Yi mycvwikgvjv Ges cwiPvjbvi relevant Management’s responses and suggested
cÖwZwµqv¸‡jv KwgwU Øviv chv©‡jvPbv Kiv nq| on the improvement and enhanced control
mechanism based on the audit findings.
• Af¨šÍixY wbixÿ‡Ki Øviv cÖ¯ÍvweZ Dbœqb-K‡g©i Dci
• Discussed with Management on improvement
e¨e¯’vcbv KZ„©c‡ÿi mv‡_ Av‡jvPbv Kiv n‡q‡Q| wbixÿv actions suggested by the internal auditors. Follow-
mycvwik ev¯Íevq‡bi Rb¨ h_vh_ e¨e¯’v †bqv Ges Zv wbwðZ up audit reports were reviewed to ensure that
appropriate action has been taken to implement
Kivi Rb¨ d‡jvAvc wbixÿv wi‡cvU©¸‡jv chv©‡jvPbv Kiv
of audit recommendations.
n‡q‡Q|
• The Committee also recommend any broader
• KwgwU wPwýZ mgm¨v¸‡jv Ges D‡ØM¸‡jvi Rb¨ cÖ‡qvRb reviews deemed necessary as a consequence of
the issues or concerns identified.
Abyhvqx †h‡Kv‡bv we¯Í„Z chv©‡jvPbvi Rb¨ mycvwik Kiv|

DSE ANNUAL REPORT n­2019-20

139
 • wWGmBÕi Af¨šÍixY wbixÿv wefvM Øviv ˆZwiK…Z †mjd • Reviewed and recommended the Internal Audit
Manual and Self-Audit Guidelines developed by
AwWU MvBWjvBb I B›Uvibvj AwWU g¨vbyqvj ch©v‡jvPbv I
Internal Audit Department of DSE.
mycvwik K‡i‡Q|
• Monitored whether suitable suggestions made by
• Af¨šÍixY wbqš¿Y Abykjxb¸‡jv Dbœq‡b Af¨šÍixY I evwn¨K internal and external auditors to improve internal
wbixÿ‡Ki Dchy³ civgk© wbqš¿Y e¨e¯’vq m‡›`nRbK control practices, suspected or presumed fraud or
irregularity or material defect in scope in control
RvwjqvwZ, Awbqg I Dcv`vbMZ ÎæwU e¨e¯’vcbv KZ…©cÿ system have been duly implemented by the
mwVKfv‡e ev¯Íevqb K‡i‡Q wKbv Zv ch©‡eÿY Kiv n‡q‡Q| management.

mswewae× wbixÿK Statutory Auditor

The performance of the statutory auditors was
mswewae× wbixÿ‡Ki Kg©ÿgZv KwgwU Øviv ch©v‡jvPbv Kiv nq
reviewed by the Committee and the Committee
Ges KwgwU †gmvm© G Kv‡mg GÛ †Kvs PvUvW© GKvD›U¨v›Um‡K recommended to the Board of Directors that M/s. A.
30 Ryb, 2021 mgvß Avw_©K eQ‡ii Rb¨ XvKv ÷K G·‡PÄ Qasem & Co., Chartered Accountants be
wjwg‡U‡Wi mswewae× wbixÿK wn‡m‡e cybtwb‡qv‡Mi e¨vcv‡i reappointed as auditor of the company for the
cwiPvjbv cl©`‡K mycvwik K‡i| financial year ending June 30, 2021 after a meeting
with them.

evwl©K Avw_©K cÖwZ‡e`b

Annual Financial Statements
wbixÿv I SuywK e¨e¯’vcbv KwgwU 2020 mv‡ji 30 Ryb mgvß The Audit and Risk Management Committee
A_© eQ‡ii wWGmBÕi Lmov wbixwÿZ Avw_©K cÖwZ‡e`b cixÿv examined the draft audited financial statements of
K‡i Ges GwU cwiPvjbv cl©‡`i Aby‡gv`‡bi Rb¨ mycvwik K‡i| DSE for the year ended June 30, 2020 and
cwiPvjbv cl©` GKB mv‡_ Avw_©K cÖwZ‡e`b Aby‡gv`b K‡i hv recommended the same for approval of the Board.
The Board has subsequently approved the financial
Avmbœ 59Zg evwl©K mvaviY mfvq Aby‡gv`‡bi Rb¨ †ck Kiv
statements which will be placed before the
n‡e| shareholder in the forthcoming 59th Annual General
Meeting for approval.

g~j¨vqb
Appreciation
wbixÿv I SzuwK e¨e¯’vcbv KwgwU Zvi KZ©e¨ I `vwqZ¡ myôzfv‡e
The Committee expresses their sincere thanks to the
cwicvj‡b mvwe©K mn‡hvwMZvi Rb¨ cwiPvjbv cl©‡`i m`m¨e„›`,
members of the Board, Management and Auditors
e¨e¯’vcbv, mswewae× I Af¨šÍixY wbixÿv wefvMmn mKj‡K for their support in carrying out its duties and
AvšÍwiK ab¨ev` cÖKvk K‡ib| responsibilities effectively.

wbixÿv I SuywK e¨e¯’vcbv KwgwUi c‡ÿ, On behalf of the Audit and Risk Management
Committee,

wg‡mm mvjgv bvmixb GbwWwm Mrs. Salma Nasreen ndc

KwgwUi †Pqvig¨vb Chairman of the Committee

140 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

Aa¨emvq mb` cÖm‡½
DUE DILIGENCE CERTIFICATE
The Board of Directors of
Dhaka Stock Exchange Limited

Subject: Declaration on Financial Statements for the year ended on 30th June 2020

Dear Sirs,
Pursuant to the condition No. 1(5)(xxvi) imposed vide the Commission’s Notification No. SEC/CMRRCD/2006-
158/134/Admin/44, dated 07 August 2012 under section 2CC of the Securities and Exchange Ordinance, 1969,
we do hereby declare that:
(1) The Financial Statements of Dhaka Stock Exchange Limited for the year ended on 30 June 2020 have been
prepared in compliance with International Accounting Standards (IAS) or International Financial Reporting
Standards (IFRS) as applicable in Bangladesh and any departure there from has been adequately disclosed;
(2) The estimates and judgments related to the financial statements were made on the prudent and reasonable basis
in order for the financial statements to reveal a true and fair view;
(3) The form and substance of transactions and the Company’s state of affairs have been reasonably and fairly
presented in its financial statements;
4) To ensure above, the Company has taken proper and adequate care in installing a system of internal control
and maintenance of accounting records;
(5) Our internal auditors have conducted periodic audits to provide reasonable assurance that the established policies
and procedures of the Company were consistently followed; and
(6) The management’s use of the going concern basis of accounting in preparing the financial statements is
appropriate and there exists no material uncertainty related to events or conditions that may cast significant doubt
on the Company’s ability to continue as a going concern.

In this regard, we also certify that: 

(i) We have reviewed the financial statements for the year ended on 30 June 2020 and that to the best of our
knowledge and belief:
(a) these statements do not contain any materially untrue statement or omit any material fact or contain
statements that might be misleading;
(b) these statements collectively present true and fair view of the Company’s affairs and are in compliance with
existing accounting standards and applicable laws.
(ii) There are, to the best of knowledge and belief, no transactions entered into by the Company during the year
which are fraudulent, illegal or in violation of the code of conduct for the company’s Board of Directors or its
members.

Sincerely yours,

Kazi Sanaul Hoq Abdul Matin Patwary, FCMA

Managing Director Chief Financial Officer

December 3, 2020

DSE ANNUAL REPORT n­2019-20

141
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

The individual INVESTOR

should act consistently as an investor
and not as a SPECULATOR.
- Ben Graham
 wWGmBÕi †bUIqvwK©s
NETWORKING OF DSE
 weGmBwmÕi bZyb Kwgk‡bi wWGmB UvIqvi cwi`k©b BSEC’s new commission visits DSE Tower

XvKv ÷K G·‡P‡Äi Avgš¿‡Y 02 b‡f¤^i 2020 Zvwi‡L At the invitation of Dhaka Stock Exchange, on
November 2, 2020, Bangladesh Securities and
evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi †Pqvig¨vb
Exchange Commission (BSEC) Commissioners
Aa¨vcK wkejx iæevBqvZ-Dj-Bmjvg-Gi †bZ…‡Z¡, Kwgkbvi
Khondoker Kamaluzzaman, Professor Dr. Shaikh
†Lv›`Kvi Kvgvjy¾vgvb, Aa¨vcK W. †kL kvgmywÏb Avn‡g`, Shamsuddin Ahmed, Professor Dr. Md. Mizanur
Aa¨vcK W. †gvt wgRvbyi ingvb, †gvt Avãyj nvwjg wWGmB Rahman and Md. Abdul Halim lead by its Chairman
wbKyÄ UvIqvi cwi`k©b K‡ib| wWGmBÕi †Pqvig¨vb †gvt Professor Shibli Rubayat-Ul-Islam visited DSE Nikunja
BDbymyi ingvb, weGmBwmÕi †Pqvig¨vb I Kwgkbvie„›`‡K Tower. DSE Chairman Md. Eunusur Rahman
welcomed the BSEC Chairman and Commissioners.
¯^vMZ Rvbvb| c‡i Kwgk‡bi †Pqvig¨vb, Kwgkbvie„›`
Later, the Chairman and Commissioners of BSEC
wWGmB UvIqv‡i gywRe KY©vi, AvBwmwU, wmwmweGj, †eªvKv‡iR
visited Mujib Corner, ICT, CCBL, Brokerage House

nvDm (wgWI‡q wmwKDwiwUR wjwg‡UW), wWGmB †U«wbs (Midway Securities Limited), DSE Training Academy,
GKv‡Wwg, jvB‡eªix, gvwëcvicvm nj I jvDÄ cwi`k©b K‡ib Library, Multipurpose Hall and Lounge at DSE Tower

Ges AvšÍR©vwZK gv‡bi ÷K G·‡PÄ feb wbg©v‡Yi Rb¨ and thanked to the DSE authorities for constructing
an international standard stock exchange building.
wWGmB KZ©…c¶‡K ab¨ev` Ávcb K‡ib|

Dhaka Stock Exchange Limited's Awareness

XvKv ÷K G·‡PÄ KZ…©K Av‡qvwRZ “Dealing with
Seminar on "Dealing with Investors"
Investors” kxl©K GK †mwgbvi
The International Organization of Securities
we‡k¦i cyuwRevRvi wbqš¿YKvix cÖwZôvb¸‡jvi mgš^qKvix I Commissions (IOSCO), the coordinator of the world's
Zv‡`i ˆewk¦K gvb wbiƒcYKvix cÖwZôvb IOSCO 5-11 capital market regulators and their global rating
agency, has declared 'World Investor Week-2020' for
A‡±vei 2020 ZvwiL ch©šÍ we‡k¦i mKj wewb‡qvMKvixM‡Yi
all investors around the world from October 5-11,
Rb¨ Ôwek¦ wewb‡qvMKvix mßvn 2020Õ Kg©m~wP †NvlYv K‡i| 2020. The main objective of ‘World Investor Week-
G Kg©mw~ Pi g~j D‡Ïk¨ n‡jv wewb‡qvM myiÿvq wewb‡qvMKvixi 2020’ is to create awareness on investor education
wkÿv I wewb‡qvM msiÿ‡Y m‡PZbZv e„w×| we‡k¦i Ab¨vb¨ and investment protection. Bangladesh Securities and
Exchange Commission, like other countries in the
†`‡ki gZ evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi
world, inaugurated the 'World Investor Week-2020'
D‡`¨v‡M evsjv‡`‡kI PZy_©ev‡ii gZ 5 A‡±vei 2019
on October 5, 2020 for the fourth time in Bangladesh

144 wWGmB evwl©K cÖwZ‡e`b 2019-20

n­
Zvwi‡L cyuwRevRvi mswkøó wewfbœ †÷K‡nvìvi I with the participation of various stakeholders and
investors. Professor Shibli Rubayat-Ul-Islam,
wewb‡qvMKvixi AskMÖn‡Y Ôwek¦ wewb‡qvMKvix mßvn 2020Õ
Chairman, Bangladesh Securities and Exchange
Gi ïf D‡Øvab m~wPZ nq| weGmBwmÕi †Pqvig¨vb Aa¨vcK
Commission (BSEC), inaugurated the 'World Investor
wkejx iæevBqvZ-Dj-Bmjvg cÖavb AwZw_ wn‡m‡e Dcw¯’Z Week-2020' as the chief guest.
†_‡K Ôwek¦ wewb‡qvMKvix mßvn 2020Õ Gi D‡Øvab K‡ib|
As part of the ongoing program of ‘World Investors
wek¦ wewb‡qvMKvix mßvn 2020 Gi avivevwnK Kg©m~Pxi Ask Week-2020’, Dhaka Stock Exchange Limited (DSE)
wn‡m‡e 06 A‡±vei organized an
2020 Zvwi‡L XvKv ÷K awareness seminar

G·‡PÄ wjwg‡UW titled “Dealing with

(wWGmB) wWwRUvj Investors” on the

2020
cøvUd‡g© “Dealing with digital platform on
October 06, 2020.
investors” kxl©K GK
DHAKA STOCK EXCHANGE LIMITED

Professor Shibli
†mwgbv‡ii Av‡qvRb
Rubayat-Ul-Islam, Chairman, Bangladesh Securities
K‡i| wWGmBÕi †Pqvig¨vb †gvt BDbymyi ingv‡bi mfvcwZ‡Z¡
and Exchange Commission was the chief guest at the
†mwgbv‡i cÖavb AwZw_ wn‡m‡e Dcw¯’Z wQ‡jb evsjv‡`k
seminar. Md. Eunusur Rahman, Chairman of DSE
wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi †Pqvig¨vb Aa¨vcK
presided over the program.
wkejx iæevBqvZ-Dj-Bmjvg|

Online training program on ‘Function and

Aëvi‡bwUf †UªwWs †evW© (GwUwe) Gi Kvh©µg I m¤¢vebv Prospect of Alternative Trading Board (ATB)’
kxl©K AbjvBb cªwk¶Y Kg©kvjv Bangladesh Securities and Exchange Commission
cyuwRevRvi I wewb‡qvMKvix‡`i ¯^v‡_© cyuwRevRvi wbqš¿K ms¯’v (BSEC), the regulator of the capital market has
approved (Alternative Trading Board) Rules, 2019 in the
evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb cyuwRevRv‡i
year 2019 to bring product diversification in the capital
c‡Y¨i ˆewPΨ Avbq‡b 2019 mv‡j (Aëvi‡bwUf †UªwWs †evW©)
market for the interest of the capital market and
wewagvjv, 2019 Aby‡gv`b w`‡q‡Qb| AZvwjKvfy³ investors. This has created an opportunity for unlisted
wmwKDwiwUR †hgb: AZvwjKvfy³ †Kv¤úvwbi †kqvi, †h †Kvb securities such as shares of unlisted companies, any
ai‡bi eÛ, wW‡eÂvi, myKyK, †e-†gqv`x wgDPz¨qvj dvÛ Ges type of bonds, debentures, sukuk, open-end mutual
weKí wewb‡qvM Znwej wba©vwiZ kZ© mv‡c‡¶ G †ev‡W© funds and alternative investment funds to include in the
board subject to fulfilment of certain conditions.
AšÍfwy© ³i my‡hvM m…wó n‡q‡Q| GQvovI me ai‡bi ZvwjKvPz¨Z
Delisted securities and companies in the OTC market
wmwKDwiwUR Ges IwUwm gv‡K©‡U _vKv †Kv¤úvwb wba©vwiZ kZ©
also have the opportunity to include in the board subject
c~iY mv‡c‡¶ G †ev‡W© AšÍfz©w³iI my‡hvM ˆZwi n‡q‡Q| to fulfilment of certain conditions. On 14 July 2020,
Aëvi‡bwUf †UªwWs †evW© wewagvjv, 2019 Gi AvIZvq 14 Bangladesh Academy for Securities Market (BASM), a
RyjvB 2020 Zvwi‡L evsjv‡`k GKv‡Wwg di wmwKDwiwUR Research and Training Institute of BSEC and DSE

gv‡K©U (weGGmGg) Ges wWGmB †Uªwbs GKv‡Wwg KZ©…K Training Academy jointly organized an online training

DSE ANNUAL REPORT n­2019-20

145
 Av‡qvwRZ ÔAëvi‡bwUf †UªwWs †evW© (GwUwe) Gi Kvh©µg I program on ‘Function and Prospect of Alternative

m¤¢vebvÕ Gi Dci GK AbjvBb cªwk¶Y Kg©kvjv AbywôZ nq| Trading Board (ATB)’ under Alternative Trading Board
Rules, 2019. Representatives from Bangladesh
G‡Z AskMªnY K‡ib evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ
Securities and Exchange Commission, Dhaka Stock
Kwgkb, XvKv ÷K G·‡PÄ wj., PÆMªvg ÷K G·‡PÄ wj.,
Exchange Limited, Chittagong Stock Exchange Limited,
wmwWweGj Ges gv‡P©›U e¨vsK I Bmy¨qvi †Kv¤úvwbi CDBL, Merchant Banks and Issuers Companies were
cªwZwbwae„›`| weGmBwmi cwiPvjK I weGGmGg-Gi attended in the program. The program was moderated
AwZwi³ gnvcwiPvjK †gvnv¤§` †iRvDj Kwig-Gi mÂvjbvq by Mohammad Rezaul Karim, Director of BSEC and

cªwk¶Y Kg©kvjvi g~j cªeÜ Dc¯’vcb K‡ib wWGmBÕi cªavb Additional Director General of BASM. M. Shaifur
Rahman Mazumdar, FCA, FCMA, Chief Operating
cwiPvjb Kg©KZ©v Gg. mvBdyi ingvb gRyg`vi, GdwmG,
Officer, DSE presented the keynote paper of the training
GdwmGgG| g~j cªe‡Ü wZwb Aëvi‡bwUf †UªwWs †ev‡W©i
program. In the keynote paper, he discussed in detail
wjw÷s wd, ZvwjKvfyw³i †hvM¨Zv, Av‡e`b cªwµqv, about listing fees, eligibility for listing, the application
wmwKDwiwUR µq-weµq Ges m¤¢vebv wb‡q we¯ÍvwiZ Av‡jvPbv process, sale and purchase of securities and prospects
K‡ib| c‡i c¨v‡bj Av‡jvPbvq AvskMªnY K‡ib weGmBwmÕi of the Alternative Trading Board. Later, Md. Mahbubul

wbe©vnx cwiPvjK I weGGmGgÕi gnvcwiPvjK †gvt gvneyeyj Alam, Executive Director, BSEC and DG, BASM, Sharif
Anwar Hossain, President, DSE Brokers Association of
Avjg, wWGmB †eªvKvim G‡mvwm‡qkb Ae evsjv‡`k (wWweG)-
Bangladesh (DBA), and Shuvra Kanti Choudhury, FCA,
Gi †cªwm‡W›U kixd Av‡bvqvi †nv‡mb Ges wmwWweGjÕi
Managing Director & CEO, CDBL participated in the
e¨e¯’vcbv cwiPvjK I wmBI ïå KvwšÍ †PŠayix, GdwmG| panel discussion.

Ô†ivj Ae ÷K-†eªvKvm© Bb B›Uvi‡bU †eBRW †UªwWsÕ Online program on ‘Roll of Stock-Broker in

kxl©K AbjvBb cªwk¶Y Kg©kvjv Internet-Based Trading’

XvKv ÷K G·‡P‡Äi †Uªwbs GKv‡Wwg Ryb 14 I 15, 2020 On June 14 & 15, 2020, DSE training academy
arranged an online program on ‘Roll of Stock-Broker
Zvwi‡L †eªvKv‡iR nvD‡Ri Kg©KZ©v‡`i wb‡q Ô†ivj Ae ÷K-
in Internet-Based Trading’ with the officials of broker
†eªvKvm© Bb B›Uvi‡bU †eBRW †UªwWsÕ kxl©K AbjvBb cªwk¶Y
houses. M. Shaifur Rahman Mazumdar, FCA, FCMA,
Kg©kvjvi Av‡qvRb K‡i| D³ Kg©kvjvq ¯^vMZ e³e¨ cª`vb
Chief Operating Officer of DSE gave the welcome
K‡ib wWGmBÕi cªavb cwiPvjb Kg©KZ©v Gg. mvBdyi ingvb
speech in the program. A total of 400 brokerage
gRyg`vi, GdwmG, GdwmGgG| GB cªwk¶Y Kg©kvjvq †gvU house officials participated in this training workshop
4wU †mk‡b 400 Rb †eªvKv‡iR nvD‡Ri Kg©KZ©v AskMªnY in 4 sessions. Mohammad Rezaul Karim, Director,
K‡ib| G‡Z cªwk¶K wn‡m‡e wQ‡jb evsjv‡`k wmwKDwiwUR Bangladesh Securities and Exchange Commission
A¨vÛ G·‡PÄ Kwgk‡bi cwiPvjK †gvnv¤§` †iRvDj Kwig| was the resource person of the program. He also
wZwb †cª‡R‡›Uk‡bi gva¨‡g cªwk¶Yv_©x‡`i B›Uvi‡bU †eBRW briefed the trainees through a presentation on

†UªwWs I Gi myweav, mveavbZv I myi¶v e¨e¯’v, wWGmB †gvevBj internet-based trading and its benefits, precautions
and security measures, monitoring of transactions
A¨vc I Gi gva¨‡g †jb‡`‡bi wel‡q bRi`vwi cwiPvjbv,
through DSE mobile app, awareness of clients'
K¬v‡q›U‡`i wbwl× Kvh©µg m¤ú‡K© m‡PZbKiY Ges ÷K
prohibited activities and code of conduct for
†eªvKvi‡`i cvjbxq AvPiYwewa m¤ú‡K© Av‡jvKcvZ K‡ib|
stockbrokers.

146 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi mv‡_ Courtesy meeting between DSE’s new Board
wWGmBÕi cwiPvjbv cl©‡`i †mŠRb¨ mv¶vr of Directors and Chairman of BSEC

24 †deªæqvwi, 2020 Zvwi‡L wWGmBÕi beMwVZ cwiPvjbv cl©` Board of Directors of DSE formed on February 24,

`vwqZ¡ Mªn‡Yi ci 02 gvP© 2020 Zvwi‡L XvKv ÷K G·‡PÄ wjt- 2020 led by Md. Eunusur Rahman, Chairman of DSE
paid a courtesy visit to the Chairman of BSEC, Dr. M.
Gi †Pqvig¨vb †gvt BDbymyi ingvb-Gi †bZ…‡Z¡ cwiPvjbv cl©`
Khairul Hossain in his office on March 02, 2020.
evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi †Pqvig¨vb W.
BSEC Chairman Dr. M. Khairul Hossain welcomed
Gg. Lvqiæj †nv‡m‡bi mv‡_ †mŠRb¨ mv¶vr K‡ib| weGmBwmÕi
the Board of Directors of DSE and said that DSE
†Pqvig¨vb W. Gg. Lvqiæj †nv‡mb wWGmBÕi cwiPvjbv cl©`‡K
Board of Directors is comprised of independent
¯^vMZ Rvwb‡q e‡jb, wewfbœ †m±i †_‡K Avmv eûg~Lx AwfÁZv
directors with diverse experience coming from
m¤úbœ mdj ¯^Zš¿ cwiPvjK‡`i mgš^‡q MwVZ n‡q‡Q wWGmBÕi
different sectors. Shareholder directors with vast

experience in the capital market are also with them.

cwiPvjbv cl©`| Zv‡`i mv‡_ Av‡Q cyuwRevRv‡ii `xN©w`‡bi
All the activities of the capital market are primarily
AwfÁZv m¤úbœ †kqvi‡nvìvi cwiPvjKe„›`| g~jZt ÷K
focused on the stock exchange. Investors have high
G·‡PćK †K›`ª K‡iB cyuwRevRv‡ii mg¯Í Kg©KvÛ-cwiPvwjZ
expectations from the board of directors of stock
nq| ÷K G·‡P‡Äi cwiPvjbv cl©‡`i Kv‡Q wewb‡qvMKvix‡`i
exchanges. Investors' confidence and market
cªZ¨vkv A‡bK †ekx| ¯^Zš¿ cwiPvjK‡`i Kg©Kv‡Ûi DciB wbf©i
dynamics depend on the activities of independent
K‡i wewb‡qvMKvix‡`i Av¯’v, †mB mv‡_ wbf©i K‡i evRv‡ii
directors. For this, all types of cooperation required
MwZkxjZv| Avgv‡`i mK‡ji D‡Ïk¨ cyuwRevRvi‡K mvg‡bi
from BSEC will be provided. At that time DSE’s
w`‡K GwM‡q †bqv| Gi Rb¨ weGmBwmÕi c¶ †_‡K †h Directors Md. Muntakim Ashraf, Ms. Salma Nasreen
mn‡hvwMZv Kivi `iKvi Zv Kiv n‡e| wWGmBÕi cªwZwbwa`‡j ndc, Professor A. K. M. Masud, PhD, Prof. Dr. Md.
wQ‡jb Aa¨vcK W. †gvt gvmy`yi ingvb, wg‡mm mvjgv bvmixb Masudur Rahman, Md. Rakibur Rahman, Md. Shakil
GbwWwm, †gvt gybZvwKg Avkivd, Aa¨vcK G. †K. Gg. gvmy`, Rizvi, Mohammad Shahjahan, Minhaz Mannan
wcGBPwW, †gvt iwKeyi ingvb, †gvt kvwKj wiRfx, †gvnv¤§` Emon, DSE’s Managing Director Kazi Sanaul Hoq
kvnRvnvb, wgbnvR gvbœvb Bgb, e¨e¯’vcbv cwiPvjK KvRx and DSE’s GM & Company Secretary Mohammad
mvbvDj nK Ges gnve¨e¯’vcK I †Kv¤úvwb mwPe †gvnv¤§` Asadur Rahman, FCS were also present.
Avmv`yi ingvb, GdwmGm|

DSE ANNUAL REPORT n­2019-20

147
 wWGmBÕi cwiPvjbv cl©` DSE Board

13 m`m¨ wewkó wWGmBÕi cwiPvjbv cl©‡`i g‡a¨ 07 Rb DSE Board consists of 13 members among them 07
are independent directors. The tenure of 06
¯^Zš¿ cwiPvjK| 07 Rb ¯^Zš¿ cwiPvjK‡`i g‡a¨ 6 Rb
Independent Directors was expired on February 12,
¯^Zš¿ cwiPvjK‡`i †gqv` 12 †deªæqvwi, 2020 Zvwi‡L †kl
2020. On February 18, 2020 BSEC approved 06 (six)
nq| weGmBwm 19 †deªæqvwi 2020 Zvwi‡L 6 (Qq) Rb
persons as the independent directors of DSE. They
e¨w³‡K wWGmBÕi ¯^Zš¿ cwiPvjK wnmv‡e Aby‡gv`b K‡i| are Md. Eunusur Rahman, Former Senior Secretary,
Zviv n‡jb †gvt BDbymiy ingvb, mv‡eK wmwbqi mwPe, Avw_©K Financial Institutions Division, Ministry of Finance;
cªwZôvb wefvM, A_© gš¿Yvjq; Aa¨vcK W. †gvt gvmy`yi Professor Md. Masudur Rahman, PhD, Department of
ingvb, wWcvU©‡g›U Ae gv‡K©wUs, d¨vKvwë Ae weR‡bm Marketing, Faculty of Business Studies, Dhaka

÷vwWR, XvKv wek¦we`¨vjq; wg‡mm mvjgv bvmixb GbwWwm, University; Salma Nasreen ndc, Former Additional
Secretary, Financial Institutions Division, Ministry of
mv‡eK AwZwi³ mwPe, Avw_©K cªwZôvb wefvM, A_© gš¿Yvjq;
Finance; Md. Muntakim Ashraf, Senior Vice President,
†gvt gybZvwKg Avkivd, wmwbqi mn-mfvcwZ, GdwewmwmAvB
FBCCI & Managing Director, Chandina Farmland &
I e¨e¯’vcbv cwiPvjK, Pvw›`bv dvg©j¨vÛ I †Kvì †÷v‡iR Cold Storage Ltd; Habibullah Bahar, Former
wjwg‡UW; nvweeyjvø n evnvi, mv‡eK A_©‰bwZK Dc‡`óv (wbe©vnx Economic Adviser (Executive Director), Bangladesh
cwiPvjK), evsjv‡`k e¨vsK; Aa¨vcK G. †K. Gg. gvmy`, Bank; Professor A. K. M. Masud, PhD, Department of
wcGBPwW, wWcvU©‡g›U Ae BÛvw÷ªqvj GÛ †cªvWvKkb Industrial & Production Engineering, Bangladesh

BwÄwbqvwis, evsjv‡`k cª‡KŠkj wek¦we`¨vjq (ey‡qU)| 24 University of Engineering and Technology (BUET) as
the Independent Director of DSE. The Board of
†deªyqvwi 2020 Zvwi‡L 951Zg †evW© mfvq cwiPvjKe„›`
Directors of DSE in its 951st meeting held on February
me©m¤§wZµ‡g †gvt BDbymiy ingvb‡K XvKv ÷K G·‡PÄ wjt-
24, 2020 unanimously elected Md. Eunusur Rahman
Gi cwiPvjbv cl©‡`i †Pqvig¨vb wbe©vwPZ K‡ib|
as the Chairman of DSE.

wmwKDwiwUR †evW© Ae †bcvj-Gi cÖwZwbwa`‡ji wWGmB A delegation from the Securities Board of
cwi`©kb Nepal visited DSE
dvBb¨vÝ KwgwU Ae nvDR Ae wi‡cÖ‡R‡›UwUfm Ae †bcvj A 10-member delegation from the Finance
(RvZxq msm`) Ges cyuwRevRvi wbqš¿K ms¯’v wmwKDwiwUR Committee of the House of Representatives of Nepal

†evW© Ae †bcvj Gi 10 (`k) m`‡m¨i GKwU cÖwZwbwa`j (Jatiya Sangsad) and the Securities Board of Nepal,
the regulator of the capital market visited the Dhaka
Zv‡`i wk¶v Kvh©µ‡gi Ask wn‡m‡e 13 †deªæqvwi 2020
Stock Exchange on February 13, 2020 as part of their
Zvwi‡L XvKv ÷K G·‡PÄ cwi`©k‡b Av‡mb| cÖwZwbwa`‡ji
educational activities. President of Finance Committee
†bZ…Z¡ †`b dvBb¨vÝ KwgwUi †cÖwm‡W›U K…ò cÖmv` `vnvj|
Krishna Prasad Dahal led the delegation. The
cÖwZwbwae„›` wWGmBÕi e¨e¯’vcbv KZ©…c‡¶i mv‡_ GK ˆeV‡K
delegates met in a meeting with the management of
wgwjZ nb| ˆeV‡Ki ïiæ‡Z wWGmBÕi e¨e¯’vcbv cwiPvjK DSE. At the beginning of the meeting, DSE Managing
KvRx mvbvDj nK cÖwZwbwa`j‡K ¯^vMZ Rvwb‡q e‡jb, Director Kazi Sanaul Hoq welcomed the delegation
wWGmB 2013 mv‡j wWwgDPz¨qvjvBRW n‡q‡Q, hvi d‡j and said that DSE has been demutualized in 2013,
cwiPvjbv cl©` Ges e¨e¯’vcbvq eo ai‡bi cwieZ©b n‡q‡Q| which has resulted in major changes in the board and
wWGmB‡Z ZvwjKvfy³ †Kv¤úvwbi msL¨v Lye †ekx bq, wKš‘ management. The number of companies listed on the
GLv‡b wewb‡qvMKvixi msL¨v A‡bK †ewk| wWGmB eZ©gv‡b DSE is not very high, but the number of investors here

148 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

ïaygvÎ BKz¨BwU wfwËK gv‡K©U n‡jI AvMvwg‡Z wWGmB c‡Y¨i is very high. Although DSE is currently only an equity-
ˆewPΨ Avbq‡bi Rb¨ KvR K‡i hv‡”Q| B‡Zvg‡a¨ GmGgB based market. DSE is working to diversify its products

ev ¯^í g~jabx †Kv¤úvwbi ZvwjKvfyw³KiY I †jb‡`‡bi Rb¨ in the future. A separate board has already been set
up for listing and transactions of SMEs. Also, the
GKwU c„_K †evW© MVb Kiv n‡q‡Q| GQvov Bmy¨qvi Ges
Bangladesh window of the V-Next platform has been
†KvqvwjdvBW Bb‡f÷i‡`i g‡a¨ ms‡hvM ¯’vc‡b wf-†b·U
launched to connect the issuers and qualified
cøvUd‡g© evsjv‡`k DB‡Ûv D‡Øvab Kiv n‡q‡Q|
investors. For the convenience of investors, an app
wewb‡qvMKvix‡`i myweav‡_© †gvevB‡ji gva¨‡g †jb‡`‡bi Rb¨
called "DSE-Mobile" has been launched for mobile
ÔwWGmB-†gvevBjÕ bv‡g GKwU A¨vc Pvjy Kiv n‡q‡Q| Gici transactions. The Nepalese delegation was then
wfbœ wfbœ †cÖ‡R‡›Uk‡bi gva¨‡g †bcv‡ji cÖwZwbwae„›`‡K briefed on the economy and capital market of
evsjv‡`‡ki A_©bxwZ I cyuwRevRvi, wWGmBÕi eZ©gvb Ges Bangladesh, current and future activities of DSE,
fwel¨r Kvh©µg, wjw÷s cÖ‡mm A¨vÛ mv‡f©Bj¨vÝ wm‡÷g, listing process and surveillance system, trading
†UªwWs wm‡÷g Ges AvBwU cøvUdg©, ÷K †eªvKvi I ÷K system and IT platform, stockbrokers and stock
wWjvi‡`i Kvh©µg m¤ú‡K© AewnZ Kiv nq| dealers through various presentations.

‘Technical Series- Practical tips for preparing Training workshop titled ‘Technical Series-
your next report: Bringing it all together’ Practical tips for preparing your next report:
kxl©K cªwk¶Y IqvK©kc Bringing it all together’

22 Rvbyqvwi, 2020 Zvwi‡L †b`vij¨vÛ wfwËK †Møvevj Global Reporting Initiative (GRI) in collaboration with

wi‡cvwU©s Bwbwk‡qwUf (wRAviAvB) I XvKv ÷K G·‡PÄ wjt Dhaka Stock Exchange Limited (DSE) conducted the
third and final workshop of the Technical Series titled
†hŠ_ D‡`¨v‡M XvKvi ¯’vbxq GKwU †nv‡U‡j Practical tips for
“Practical tips for preparing your next report: Bringing
preparing your next report: Bringing it all together
it all together” on January 22, 2020 in a local hotel
kxl©K †UKwbK¨vj wmwi‡Ri Z…Zxq Kg©kvjvi Av‡qvRb K‡i|
at Dhaka. This workshop focused on practical tips
Kg©kvjvq e¨envwiK wUcm I †KŠkj¸‡jvi Dci `…wó wbe× and tricks that can be adopted by the organizations
Kiv n‡q‡Q hv‡Z cªwZôvb¸‡jv Zv‡`i ¯’vwq‡Z¡i to prepare their sustainability reports.
(mvm‡UB‡bwewjwU) cªwZ‡e`b¸‡jv ˆZwi Ki‡Z cv‡i|
The session was facilitated by Dr. Aditi Haldar,
wRAviAvB `w¶Y Gwkqvi cwiPvjK W. Aw`wZ nvj`vi Ges Director, GRI South Asia & Ms. Rubina Pal, DFAT
wRAviAvB `w¶Y Gwkqvi wWGdGwU †cÖvMÖvg g¨v‡bRvi iæwebv Program Manager, GRI South Asia. In addition to this,

DSE ANNUAL REPORT n­2019-20

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 cvj Kg©kvjvwU cwiPvjbv K‡ib| Gmgq wWGmBÕi cwiPvjK there were other dignitaries like Md. Shakil Rizvi,

†gvt kvwKj wiRfx, wgbnvR gvbœvb Bgb Ges †m‡KÛ Director, DSE; Minhaz Mannan Emon, Director, DSE;
Mr. Duncan McCullough, Second Secretary (Economic
†m‡µUvix (B‡KvbwgK I Kgvwk©qvj wWc‡jv‡gwm) wg. WvbKvb
and Commercial Diplomacy), Australian High
g¨vKK¬vD, mv‡eK mwPe, wgwbw÷ª Ae K‡c©v‡iU A¨v‡dqvm©,
Commission, Dhaka; Mr. Ram Bandyopadhyay,
fviZ, mv‡eK m`m¨, †mwe wg. ivg e‡›`vcva¨vq Ges
Former Secretary, Ministry of Corporate Affairs,
wWGmBÕi cªavb cwiPvjK Kg©KZ©v Gg. mvBdyi ingvb
Government of India & Former Member, SEBI and M.
gRyg`vi, GdwmG, GdwmGgG Dcw¯’Z wQ‡jb| Shaifur Rahman Mazumdar, FCA, FCMA, COO, DSE.
wWGmB Ges wRAviAvB 2018 mvj †_‡K ZvwjKvfy³ DSE & GRI has been working closely since 2018 to
†Kv¤úvwb¸‡jvi ¯’vwq‡Z¡i cªfve m¤ú‡K© cªwZ‡e`b cÖ¯Z
‘ Kivi create a conducive environment for publicly listed
Rb¨ AbyK~j cwi‡ek ˆZwi Ki‡Z wbweofv‡e KvR Ki‡Q| companies to report on their sustainability impacts.
wWGmB B‡Zvg‡a¨ evsjv‡`‡ki ZvwjKvfy³ †Kv¤úvwbi Rb¨ DSE also published the ESG guidance document

mvm‡UB‡bej wi‡cvwU©s Gi MvB‡WÝ wn‡m‡e BGmwR MvB‡WÝ (Guidance for sustainability reporting for listed
companies in Bangladesh) with technical inputs from
WKy‡g›U cªKvk K‡i‡Q| wRAviAvB wWGmBÕi mv‡_ †hŠ_fv‡e
GRI. GRI collaborated with DSE to initiate technical
ZvwjKvfy³ †Kv¤úvwbi Rb¨ †UKwbK¨vj wmwiR ïiæ K‡i‡Q
training (technical series) for listed companies those
hviv GLb wi‡cvU© ïiæ Ki‡e|
who are yet to start reporting.

wWGmB‡Z gywRee‡l©i ¶YMYbv D`&hvcb D‡Øvab Inauguration of the countdown of Mujib year
A_©‰bwZK Dbœq‡bi PvwjKvkw³ †`‡ki cªavb cywu RevRvi XvKv at DSE
÷K G·‡PÄ wjwg‡UW RvwZi wcZv e½eÜy †kL gywReyi Dhaka Stock Exchange Limited, the main bourse of

ingvb-Gi Rb¥kZ evwl©Kx D`&hvc‡b eQi e¨vcx wewfbœ Kg©mP~ x the country, has taken various programs throughout
the year to celebrate the birth centenary of Father of
nv‡Z wb‡q‡Q| GiB avivevwnKZvq 27 Rvbyqvix 2020 Zvwi‡L
the Nation Bangabandhu Sheikh Mujibur Rahman. In
gvbbxq msm` m`m¨, XvKv ÷K G·‡P‡Äi cwiPvjbv cl©‡`i
continuation of this, on January 27, 2020, the
m`m¨, wWGmBÕi mv‡eK †cªwm‡W›U I †Pqvig¨vbe„›`, countdown program of Mujib year was organized at
†UªK‡nvìvie„›`, wWweG Gi †cªwm‡W›U Ges cwiPvjKe„›`, DSE premises from 12 pm to 5 pm in the presence of

150 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

gv‡P©›U e¨vsKvm© G‡mvwm‡qkb Ges Ab¨vb¨ †÷K‡nvìvi‡`i the Hon'ble Parliamentarians, Board of Directors of

Dcw¯’wZ‡Z wWGmB cªv½‡b `ycyi 12 NwUKv †_‡K 5 NwUKv Dhaka Stock Exchange, DSE's former Presidents and
Chairmen, President & Directors of DBA, Presidents
ch©šÍ gywRee‡l©i ¶YMYbv D`&hvc‡bi Av‡qvRb K‡i|
& Directors of Merchant Bankers' Association and
Abyôv‡bi D‡Øvab K‡ib wWGmBÕi †Pqvig¨vb I e½eÜyi
other stakeholders. The program was inaugurated by
Rb¥kZ evwl©Kx D`&hvcb KwgwUi AvnŸvqK Aa¨vcK W. Aveyj Professor Dr. Abul Hashem, Chairman of DSE and
nv‡kg| e½eÜyi Rb¥kZevwl©Kx D`&hvcb KwgwUi †Kv-AvnevqK convener of the Bangabandhu's birth centenary
wWGmBÕi cwiPvjK †gvt iwKeyi ingvb ¯^vMZ e³e¨ cª`vb celebration committee. DSE’s Director & Co-convener
K‡ib| c‡i RvwZi wcZv e½eÜy †kL gywReyi ingvb-Gi of Bangabandhu's birth centenary celebration

msMªvgx Rxe‡bi Ici Av‡jvPbvq AskMªnY K‡ib gvbbxq committee Md. Rakibur Rahman gave the welcome
msm` m`m¨ Ges mv‡eK gš¿x KvRx wd‡ivR iwk`, Ggwc; address at the event. Kazi Firoz Rashid, MP, former
gvbbxq msm` m`m¨ †gvnv¤§` kwdKyi ingvb, Ggwc; mv‡eK Minister; Md. Shafiqur Rahman, MP, TREC Holder of

Z_¨ Dc‡`óv I wWwewm P¨v‡bj Gi †Pqvig¨vb BKevj †mvenvb DSE; Iqbal Sobhan Chowdhury, Chairman of DBC
News; Justice Siddiqur Rahman Miah, Monowara
†PŠayix, wWGmBÕi ¯^Zš¿ cwiPvjK wePvicwZ wQwÏKyi ingvb
Hakim Ali, Minhaz Mannan Emon, Directors of DSE;
wgqv, wWGmBÕi cwiPvjK wg‡mm g‡bvqviv nvwKg Avjx,
Mostaque Ahmed Sadeque, former President of DBA;
wWGmBÕi cwiPvjK wgbnvR gvbœvb Bgb, wWweGÕi mv‡eK Hosne Ara Begum, Former Director of DSE; Khugesta

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 †cªwm‡W›U †gvkZvK Avn‡g` mv‡`K, wWGmBÕi mv‡eK Nur-E-Naharin, former Director of DSE participated

cwiPvjK wg‡mm †nvm‡b Aviv †eMg, wWGmBÕi mv‡eK in discussions on the life of Father of the Nation
Bangabandhu Sheikh Mujibur Rahman. Finally,
cwiPvjK LywR¯Ív-b~i-B-bvnixb| me‡k‡l ab¨ev` Ávcb K‡ib
Brigadier General Md Mostafizur Rahman, hdmc,
e½eÜyi Rb¥kZ evwl©Kx D`&hvcb Dc-KwgwUi AvnevqK I
afwc, psc, PhD, Convener of the Sub-Committee of
wWGmBÕi cwiPvjK weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi Bangabandhu's birth centenary celebration & Director
ingvb| of the DSE gave thanks to all.

ZvwjKvfy³ e¨vs‡Ki e¨e¯’vcbv cwiPvjK‡`i mv‡_

Meeting between Board of Directors of DSE
wWGmBÕi cwiPvjbv cl©‡`i ˆeVK and Managing Director of Listed Banks
16 Rvbyqvwi 2020 Zvwi‡L gvbbxq cªavbgš¿xi mv‡_ On January 16, 2020 a discussion meeting took
weGmBwmÕi GK Av‡jvPbv mfv AbywôZ nq| miKvi g‡b K‡i place between Honorable Prime Minister and
†`‡ki A_©‰bwZK Dbœq‡bi avivevwnKZv eRvq ivL‡Z GKwU representatives of BSEC. The government believes
MwZkxj I kw³kvjx cyuwRevRvi Acwinvh©| cyuwRevRvi‡K that a dynamic and strong capital market is essential

weKwkZ Kivi j‡¶¨ KwZcq ¯^í-†gqvw` I `xN©-†gqvw` to sustain the country's economic development. In the

meeting, a number of short-term and long-term

Kg©m~wPi wel‡q mfvq Av‡jvPbv nq| ¯^í-†gqvw` †ek wKQy
measures were discussed for the development of
welq AwP‡iB wKfv‡e ev¯Íevqb Kiv hvq Zvi Dci gZvgZ
capital market. In the meeting, opinions were
cªKvk Kiv nq| Zvi g‡a¨ D‡jøL‡hvM¨ welq mg~n wQj-
expressed on how to implement a number of short-
cyuwRevRv‡i e¨vsK I e¨vsK ewnf~Z© Avw_©K cªwZôv‡bi term measures soon. Notable among these were:
AskMªnY e…w× Kiv; gv‡P©›U e¨vsKvi I cªvwZôvwbK increasing the participation of banks and non-bank
wewb‡qvMKvix‡`i Rb¨ mnR k‡Z© FY myweavi welqwU financial institutions in the capital market, reviewing
ch©v‡jvPbv Kiv; AvBwmwei wewb‡qvM m¶gZv e…w×KiY; the issues of relaxing loan facilities for merchant
evRv‡i Av¯’v e…w×i j‡¶¨ cª‡qvRbxq e¨e¯’v MªnY; cªvwZôvwbK bankers and institutional investors, increasing the

wewb‡qvM e…w×i j‡¶¨ D‡`¨vM MªnY Kiv Ges evRv‡i gvbm¤úbœ investment capacity of ICB, steps to increase market
confidence, initiatives to increase institutional
AvBwcI e…w×i j‡¶¨ eûRvwZK I miKvwi gvwjKvbvaxb
investment and listing multinational and state-owned
†Kv¤úvwbmg~n‡K ZvwjKvf~³Ki‡Yi D‡`¨vM MªnY Kiv|

152 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

GiB †cªw¶‡Z 10 †deªyqvix 2018 Zvwi‡L evsjv‡`k e¨vsK companies for increasing quality IPOs in the market.

Avw_©K Lv‡Zi cªavb ga¨¯’ZvKvix wn‡m‡e mvwe©K welq On February 10, 2020 in view of the prevailing
we‡ePbvq cyuwRevRv‡i µgvMZ Zvij¨ cªevn eRvq ivLvi Rb¨ situation of the country's capital market, Bangladesh
GKwU `xN©‡gqvw` cwiKíbvi Aax‡b Zdwmwj e¨vsK, Zdwmwj Bank, as the Chief Financial Mediator decided to set

e¨vsKmg~‡ni I Avw_©K cªwZôvb AvBb, 1993 Gi Aax‡b MwVZ up a fund in a special arrangement for the purpose
of investing in the capital market only for the capital
Avw_©K cªwZôvbmg~‡ni cywu RevRvi msµvšÍ mvewmwWqvix cªwZôvb
market subsidiaries of financial institutions (merchant
(gv‡P©›U e¨vsK I wWjvi jvB‡mÝavix †eªvKv‡iR nvDR) Ges
banks and dealer licensed brokerage houses) and
Ab¨vb¨ gv‡P©›U e¨vsK I †eªvKv‡iR nvDR (wWjvi) †K ïaygvÎ
other merchant banks and brokerage houses (dealer)
cywu RevRv‡i wewb‡qv‡Mi D‡Ï‡k¨ we‡kl e¨e¯’vq Znwej MV‡bi established under Schedule Bank, Schedule Banks
wm×všÍ †bq| cyuwRevRv‡i wewb‡qv‡Mi Rb¨ †K›`ªxq e¨vs‡Ki and Financial Institution Act 1993. On March 10,
mvK©yjvi Abymv‡i we‡kl Znwej MV‡bi AMªMwZi welqwU 2020, a meeting was held on behalf of DSE with the
m¤ú‡K© Rvb‡Z wWGmBÕi c¶ †_‡K 10 gvP©, 2020 Zvwi‡L Managing Director of the listed banks to discuss the
ZvwjKvfy³ e¨vs‡Ki e¨e¯’vcbv cwiPvjK‡`i mv‡_ wWGmBÕi progress of the formation of special funds as per the

cwiPvjbv cl©‡`i GK ˆeVK AbywôZ nq| ˆeV‡K mfvcwZZ¡ central bank circular for investing in the capital
market. The meeting was presided over by DSE’s
K‡ib wWGmBÕi †Pqvig¨vb †gvt BDbymyi ingvb| G mgq
Chairman, Md. Eunusur Rahman. DSE’s Directors
wWGmBÕi c‡¶ Dcw¯’Z wQ‡jb ¯^Zš¿ cwiPvjK weª‡MwWqvi
Brigadier General Md Mostafizur Rahman, hdmc,
†Rbv‡ij †gvt gy¯ÍvwdRyi ingvb, GBPwWGgwm, GGdWweøDwm,
afwc, psc, PhD; Ms. Salma Nasreen ndc; Md.
wcGmwm, wcGBPwW, wg‡mm mvjgv bvmixb GbwWwm, †gvt
Muntakim Ashraf; Habibullah Bahar; Professor A. K.
gybZvwKg Avkivd, nvweeyjøvn evnvi, Aa¨vcK W. G †K Gg M. Masud, PhD; Md. Rakibur Rahman; Md. Shakil
gvmy`; †kqvi‡nvìvi cwiPvjK †gvt iwKeyi ingvb, †gvt kvwKj Rizvi; Mohammad Shahjahan; Minhaz Mannan
wiRfx, †gvnv¤§` kvnRvnvb I wgbnvR gvbœvb Bgb; wWGmBÕi Emon; Managing Director of DSE Kazi Sanaul Hoq
e¨e¯’vcbv cwiPvjK KvRx QvbvDj nK Ges PÆMªvg ÷K and Managing Director of CSE Mamun-Ur-Rashid
G·‡P‡Äi e¨e¯’vcbv cwiPvjK gvgyb-Di-iwk`| were present in the meeting.

Meeting between Board of Directors of DSE

evsjv‡`k miKv‡ii gvbbxq A_©gš¿x Rbve Av n g gy¯d
Í v
and Hon'ble Finance Minister, A H M Mustafa
Kvgvj, GdwmG, GgwcÕi mv‡_ wWGmBÕi cwiPvjbv
Kamal, FCA, MP
cl©‡`i ˆeVK
On January 02, 2020 the Board of Directors of Dhaka
cyuwRevRvi cwiw¯’wZ wb‡q bZyb eQ‡ii ïiæ‡Z XvKv ÷K Stock Exchange Limited lead by Professor Dr. Abul
G·‡P‡Äi cwiPvjbv cl©` 02 Rvbyqvix 2020 Zvwi‡L Hashem, Chairman of DSE attended a meeting with
the Honorable Finance Minister of Bangladesh
ivRavbxi AvMviMvuI‡q cwiKíbv gš¿Yvj‡q GbBwm fe‡b
Government, A H M Mustafa Kamal, FCA, MP to
†kqvievRv‡ii mvwe©K cwiw¯’wZ wb‡q evsjv‡`k miKv‡ii
address the overall situation of the capital market in
gvbbxq A_©gš¿x Rbve Av n g gy¯d
Í v Kvgvj, GdwmG, Ggwc- the “NEC Building” of Planning Ministry at Agargaon.
Gi mv‡_ ˆeVK K‡ib| hvi †bZ…Z¡ †`b wWGmBÕi †Pqvig¨vb Professor Dr. Abul Hashem, Chairman of DSE
proposed eleven-point recommendations to the
Aa¨vcK W. Aveyj nv‡kg| ˆeV‡K wWGmBÕi †Pqvig¨vb
Finance Minister, A H M Mustafa Kamal for the
Aa¨vcK W. Aveyj nv‡kg we`¨gvb g›`v`kv †_‡K
sustainable development of the capital market.

DSE ANNUAL REPORT n­2019-20

153
 cyuwRevRv‡ii DËi‡Y A_©gš¿x Av n g gy¯Ídv Kvgv‡ji Kv‡Q Proposals include long-term financing from the capital
market, increasing liquidity in the market, listing state-
11 `dv mycvwik Zy‡j a‡ib| cª¯Ívebvmg~n wQj cyuwRevRvi
owned companies into the stock market, introducing
†_‡K `xN©‡gqvw` A_©vq‡bi e¨e¯’v, evRv‡i A‡_©i mieivn
T-bond transactions, motivating multinational
e…w×, ivóªvqvË¡ †Kv¤úvwbi †kqvi cywu RevRv‡i Avbqb, wU-e‡Ûi companies to be listed on the capital market, settling
†jb‡`b h_vkxNª PvjyKiY, eûRvwZK †Kv¤úvwb‡K cywu RevRv‡i conflict between Grameen phone & BTRC, reducing
Tax for DSE capital market transaction, ensuring
ZvwjKvfy³ Ki‡Z DØy×KiY, MªvgxY‡dvb Ges †Uwj‡hvMv‡hvM
transparency of audit reports, enhancing the capacity
wbqš¿K ms¯’vi ؇›Øi `ªæZ wb®úwË, wWGmB Ges cyuwRevRv‡ii
of ICB and other institutions in capital market
†jb‡`‡bi Dci Ki nªvm, AwWU wi‡cv‡U©i ¯^”QZv wbwðZKiY, development, public-private partnership, formation of
cyuwRevRvi Dbœq‡b AvBwmwe I Ab¨vb¨ ms¯’vi m¶gZv e…w×, high-capacity coordination committees. He also
highlighted the overall issues of capital market and
cvewjK-cªvB‡fU cvU©bviwkc, D”P ¶gZv m¤úbœ mgš^q KwgwU
urged him to take appropriate steps for sustainable
MVb| wZwb cyuwRevRv‡ii GB mvwe©K welqvw` Zy‡j a‡i Gi
development. He also sought specific and active
†UKmB Dbœq‡b h_vh_ c`‡¶c †bqvi Aby‡iva K‡ib Ges cooperation in the development of capital market as
cyuwRevRvi Dbœq‡b AZx‡Zi b¨vq eZ©gv‡bI mywbw`©ó I mwµq in the past. Md. Ashadul Islam, Senior Secretary,
Financial Institutions Division, Ministry of Finance; Dr.
mn‡hvwMZv Kvgbv K‡ib| ˆeV‡K A_© gš¿Yvj‡qi Avw_©K
M. Khairul Hossain, Chairman of BSEC; Professor Md.
wefv‡Mi wmwbqi mwPe Avmv`yj Bmjvg, weGmBwmi †Pqvig¨vb
Helal Uddin Nizami, Commissioner of BSEC; Dr.
W. Gg Lvqiæj †nv‡mb, Kwgkbvi Aa¨vcK †gvt †njvj DwÏb Swapan Kumar Bala, FCMA, Commissioner of BSEC
wbRvgx, W. ¯^cb Kygvi evjv, GdwmGgG Ges †Lv›`Kvi and Khondoker Kamaluzzaman, Commissioner of
BSEC were also present at that time.
Kvgvjy¾vgvb Dcw¯’Z wQ‡jb|

Inauguration of New Index of Dhaka Stock

XvKv ÷K G·‡PÄ wjwg‡UW-Gi bZyb m~P‡Ki D‡Øvab Exchange Limited
XvKv ÷K G·‡P‡Äi †KŠkjMZ wewb‡qvMKvix Pxbv As part of a technical collaboration plan, initiatives
Kb‡mvwU©qvg †kb‡Rb I mvsnvB ÷K G·‡PÄ e¨emvwqK I have been taken to launch new Indices for DSE.
cªhwy ³MZ mn‡hvwMZvi Ask wn‡m‡e wWGmB‡Z AvKvi wfwËK Initially, DSE planned to launch size-based indices
wZbwU (e…nr, ga¨g I ¯^í g~jabx †Kv¤úvwbi mgš^‡q) bZyb based on DSE Large-Cap Constituents, DSE Mid-Cap
m~PK Pvjy Kivi D‡`¨vM MªnY K‡i| †kb‡Rb ÷K G·‡P‡Äi Constituents and DSE Small-Cap Constituents.

154 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

mvewmwWqvwi †Kv¤úvwb †kb‡Rb wmwKDwiwUR Bbdi‡gkb Dhaka Stock Exchange Limited and Shenzhen

†Kv¤úvwb wjt I wWGmB †hŠ_fv‡e GB m~PKwUi wWRvBb I Securities Information Company Limited (SSICL), a
wholly-owned subsidiary of Shenzhen Stock
†W‡fjc‡g‡›Ui KvR K‡i| wewb‡qvMKvixiv hv‡Z e…nr, ga¨g
Exchange, jointly worked in designing, developing
I ¯^í g~jabx †Kv¤úvwb¸‡jvi g~‡j¨i n«vm-e„w× GK bR‡i
and launching of DSE Size-based Indices. The indices
eyS‡Z cv‡ib †mRb¨ GB m~PK Pvjy Kiv nq| G‡Z wWGmBÕi
are introduced so that investors can understand the
m~P‡Ki wek¦e¨vcx eª¨vwÛs Ges we‡`wk wewb‡qvMKvixMY
price fluctuations of large, medium and small
evsjv‡`‡ki cyuwRevRv‡i wewb‡qvM Ki‡Z AviI †ewk AvMªnx capitalization companies. This will lead to the global
n‡e| 30 wW‡m¤^i, 2019 Zvwi‡L e…nr evRvi g~ja‡bi branding of the DSE index. So foreign investors will
†Kv¤úvwb¸‡jv‡K wb‡q CNI-DSE Select Index (CDSET) be more interested to invest in the capital market of
Gi AvbyôvwbKfv‡e D‡Øvab Kiv nq| wWGmBÕi Bangladesh. The CNI-DSE Select Index (CDSET)
†kqvi‡nvìvi‡`i Dcw¯’wZ‡Z m~PKwU D‡Øvab K‡ib wWGmBÕi officially inaugurated on December 30, 2019 with the

†Pqvig¨vb Aa¨vcK W. Aveyj nv‡kg| G mgq Dcw¯’Z wQ‡jb companies of large market capitalization. In the
presence of DSE shareholders, the index was
†KŠkjMZ wewb‡qvMKvix KZ©…K g‡bvbxZ cwiPvjK wk‡q
inaugurated by Professor Dr. Abul Hashem,
I‡qbnvB Ges †kb‡Rb wmwKDwiwUR Bbdi‡gkb †Kv¤úvwb
Chairman of DSE. Xie Wenhai, Director (Strategic
wjt Gi fvBm †Rbv‡ij g¨v‡bRvi W. wks wRswcs|
Investor) of DSE and Dr. Xing Jingping, Vice General
01 Rvbyqvwi, 2020 ZvwiL †_‡K m~PKwU Awdwmqvwj Manager of SSICL were also present at that time.

wWGmBÕi I‡qemvB‡U Db¥y³ Kiv nq| GB m~PKwU‡Z The index is officially opened for everyone on the
†Kv¤úvwb AšÍf©yw³i †¶‡Î evRvi g~jab (kxl© ¯’vbxq), DSE's website from January 01, 2020. In this index,

†gŠjwfwË (gybvdv) I Zvij¨ (†jb‡`b, †UªwWs †W) BZ¨vw` market capitalization (top), fundamental (profitability)
and liquidity (transaction, trading day) are considered
we‡ePbvq †bqv n‡q‡Q| m~PKwU‡Z eZ©gv‡b 40wU †Kv¤úvwb
for the inclusion of the company. There are currently
i‡q‡Q| m~PKwUi wfwË ZvwiL aiv n‡q‡Q 31 wW‡m¤^i 2015
40 companies in the index. The base date of the index
Ges †eBR Bb‡W· n‡”Q 1000 c‡q›U| m~PKwU Aa© evwl©Kx is December 31, 2015 and the base index is 1000
A_©vr cªwZ 6 gv‡m cybtg~j¨vqb Kiv n‡e| points. The index will be evaluated every 6 months.

DSE ANNUAL REPORT n­2019-20

155
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

GROWTH
is never by mere chance;
it is the result of forces
WORKING TOGETHER.
- James Cash Penney
 mwPÎ
PICTORIAL
 ¯^vaxbZvi gnvb ¯’cwZ RvwZi wcZv e½eÜy †kL gywReyi ingvb-Gi 45Zg kvnv`vZ evwl©Kx Dcj‡¶¨ 15 AvM÷ 2020 Zvwi‡L `ycyi 12:30 wgwb‡U
XvKv ÷K G·‡PÄ wjwg‡UW fvPz©¨q¨vj c×wZ‡Z ¯§iYmfv I †`vqv gvnwd‡ji Av‡qvRb K‡i| wWGmBÕi †Pqvig¨vb Rbve †gvt BDbymyi ingvb-Gi
mfvcwZ‡Z¡ ¯§iYmfv I †`vqv gvnwd‡j cÖavb AwZw_ wn‡m‡e mshy³ wQ‡jb evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi m¤§vwbZ †Pqvig¨vb Aa¨vcK
wkejx iæevBqvZ-Dj-Bmjvg|
On August 15, 2020 a remembrance meeting & doa mahfil was arranged by Dhaka Stock Exchange Limited on the occasion
of the 45th martyrdom anniversary of the great architect of independence, Father of the Nation Bangabandhu Sheikh Mujibur
Rahman. Md. Eunusur Rahman, Chairman, DSE presided over the program. Honorable Chairman of Bangladesh Securities and
Exchange Commission, Professor Shibli Rubayat-Ul-Islam was also present as the Chief Guest at the said occasion.

17 gvP© 2020 Zvwi‡L me©Kv‡ji me©‡kÖô evOvjx RvwZi wcZv e½eÜz †kL gywReyi ingvb-Gi Rb¥kZ evwl©Kx‡Z avbgwÛ 32 b¤^‡i e½eÜzi cÖwZK…wZ‡Z
XvKv ÷K G·‡P‡Äi c‡ÿ cy®úvN© Ac©Y K‡i kÖ×v Rvbvb wWGmBÕi †Pqvig¨vb †gvt BDbymyi ingvb, cwiPvjK weª‡MwWqvi †Rbv‡ij †gvt †gv¯ÍvwdRyi
ingvb, GBPwWGgwm, GGdWweøDwm, wcGmwm, wcGBPwW, wg‡mm mvjgv bvmixb GbwWwm, †gvt gybZvwKg Avkivd, Aa¨vcK G. †K. Gg. gvmy`, wcGBPwW,
e¨e¯’vcbv cwiPvjK KvRx QvbvDj nK mn wWGmBÕi EaŸ©Zb Kg©KZ©v I Kg©Pvwie„›`|

On behalf of Dhaka Stock Exchange Limited, Chairman of DSE, Md. Eunusur Rahman; Directors of DSE, Brigadier General Md
Mostafizur Rahman, hdmc, afwc, psc, PhD; Ms. Salma Nasreen ndc; Md. Muntakim Ashraf; Professor A. K. M. Masud, PhD;
Managing Director Kazi Sanaul Hoq along with high officials and staffs of DSE paid homage to the portrait of the greatest Bengali
of all time, Father of the Nation Bangabandhu Sheikh Mujibur Rahman on the event of birth century of him at Dhanmondi 32
on March 17, 2020.

158 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

30 wW‡m¤^i 2019 Zvwi‡L wWGmBÕi 58Zg evwl©K mvaviY mfv gvwëcvicvm nj, wWGmB UvIqvi, †j‡fj-12, wbKzÄ, XvKvq AbywôZ nq|
mfvq mfvcwZZ¡ K‡ib wWGmBÕi †Pqvig¨vb Aa¨vcK W. Aveyj nv‡kg| G mgq Ab¨vb¨ cwiPvjKe„›` Dcw¯’Z wQ‡jb|
The 58th Annual Gereral Meeting of DSE was held on December 30, 2019 at Multipurpose Hall, DSE Tower, Nikunja, Dhaka.
DSE Chairman Professor Dr. Abul Hashem presided over the meeting. Other members of DSE Board of Directors were also
present in the meeting.

58Zg evwl©K mvaviY mfvq Dcw¯’Z †kqvi‡nvìvie„›`

The share holders at the 58th Annual General Meeting.

DSE ANNUAL REPORT n­2019-20

159
 58Zg evwl©K mvaviY mfvq e³vMY e³e¨ w`‡”Qb

Professor Dr. Abul Hashem Xie Wenhai Md. Sajedul Islam

Chairman Director (Strategic Investors) Managing Director
Dhaka Stock Exchange Limited Dhaka Stock Exchange Limited Shyamol Equity Management Limited

Mostaque Ahmed Sadeque Sharif Anwar Hossain Mohammad Ali, FCA

Managing Director Managing Director Chief Executive Officer
Investment Promotion Services Limited Md. Sahidullah Securities Limited Dhaka Bank Securities Limited

Khugesta Nur-E-Naharin Dr. Md. Zahirul Islam Mohammed Ahsan Ullah

Managing Director Chairman Managing Director & CEO
Modern Securities Limited Prilink Securities Limited Pubali Bank Securities Limited

160 wWGmB evwl©K cÖwZ‡e`b n­ 2019-20

 Speakers are addressing at the 58th AGM

Mohammed Mohiuddin, FCMA Nayeem Md. Quayum A.K.M Shamsuddoha

Managing Director Managing Director Managing Director
Island Securities Limited Quayum Securities Limited Doha Securities Limited

A.S. Shahudul Huque Bulbul M. Akbar Ali Md. Shakil Rizvi

Managing Director Chairman Managing Director
Bulbul Securities Limited Ali Securities Co. Limited Shakil Rizvi Stock Limited

Md. Rakibur Rahman Abdul Matin Patwary, FCMA Monzur Uddin Ahmed Mohammad Asadur Rahman, FCS
Director, DSE & Managing Director (In-charge) Managing Director GM & Company Secretary
Chairman Dhaka Stock Exchange Limited M & Z Securities Limited Dhaka Stock Exchange Limited
Midway Securities Limited As a member of Election Commission

DSE ANNUAL REPORT n­2019-20

161
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

There is no FINISH LINE.

There are only
MILE MARKERS
- Michael Ventura
 AUDITORS’ REPORT AND
AUDITED FINANCIAL STATEMENTS
As at and for the year ended
30 June 2020
 ÒgywRee‡l©i A½xKvi
Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ

THE ONLY STRATEGY

THAT IS GUARANTEED
TO FAIL IS NOT TAKING RISKS
- Mark Zuckerberg

164 DSE ANNUAL REPORT n­2019-20

 Independent audItor's report
To the Shareholders of
DhAkA STock ExchAngE LimiTED

report on the audit of the Financial statements

opinion

We have audited the financial statements of Dhaka Stock Exchange Limited (the company), which comprise the statement
of financial position as at 30 June 2020, and the statement of profit or loss and other comprehensive income, statement
of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including
a summary of significant accounting policies.

in our opinion, the accompanying financial statements give a true and fair view of the financial position of the company
as at 30 June 2020, and its financial performance and its cash flows for the year then ended in accordance with
international Financial Reporting Standards (iFRSs), the companies Act 1994 and other applicable laws and regulations.

Basis for opinion

We conducted our audit in accordance with international Standards on Auditing (iSAs). our responsibilities under those
standards are further described in the Auditor's Responsibilities for the audit of the Financial Statements section of our
report. We are independent of the company in accordance with the ethical requirement that are relevant to our audit of
the financial statements in Bangladesh, and we have fulfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.

Information other than the Financial statements and auditor’s report thereon

management is responsible for the other information. The other information comprises the information included in the
annual report, but does not include the financial statements and our auditor’s report thereon.

our opinion on the financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.

in connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained
in the audit or otherwise appears to be materially misstated. if, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we are required to report that fact. We have nothing to report
in this regard.

responsibilities of Management and those Charged with Governance for the Financial statements

management is responsible for the preparation of financial statements that give a true and fair view in accordance with
iFRSs, and for such internal control as management determines is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.

in preparing the financial statements, management is responsible for assessing the company’s ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to
do so.

Those charged with governance are responsible for overseeing the company’s financial reporting process.

DSE ANNUAL REPORT n­2019-20

165
 auditor's responsibilities for the audit of the Financial statements

our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with iSAs will always
detect a material misstatement when it exists. misstatements can arise from fraud or error and are considered material if,
individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.

As part of an audit in accordance with iSAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:

• identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate
to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher
than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations,
or the override of internal control.

• obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
company’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

• conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant
doubt on the company’s ability to continue as a going concern. if we conclude that a material uncertainty exists, we
are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such
disclosures are inadequate, to modify our opinion. our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. however, future events or conditions may cause the company to cease to continue
as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that gives a true and
fair view.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of
the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our
audit.

report on other Legal and regulatory requirements

in accordance with the companies Act 1994, we also report the following:

(a) we have obtained all the information and explanation which to the best of our knowledge and belief were necessary
for the purpose of our audit and made due verification thereof;

(b) in our opinion, proper books of account as required by law have been kept by the company so far as it appeared
from our examination of those books; and

(c) the statement of financial position and statement of profit or loss and other comprehensive income dealt with by the
report are in agreement with the books of account.

Dated: Dhaka A. Qasem & co.

30 november 2020 chartered Accountants

166 DSE ANNUAL REPORT n­2019-20

 Dhaka Stock Exchange Limited
Statement of Financial Position
As at 30 June 2020

30 June 2020 30 June 2019

Particulars notes BDT BDT

assets

non-current assets
Property, plant and equipment 4 9,445,333,466 4,298,000,945
intangible asset 5 118,266,962 156,472,356
capital work-in-progress 6 - 5,206,567,599
Right-of-use (RoU) assets 7 6,481,847 -
Deferred tax asset 8 14,101,218 215,119,237
Loan to employees 9 33,384,239 38,979,296
9,617,567,732 9,915,139,433
non-current asset-investments
investment in cDBL shares 10 816,753,440 816,753,440
investment in bonds 11 860,000,000 940,000,000
investment in ccBL shares 12 1,350,000,000 1,350,000,000
total non-current assets 3,026,753,440 3,106,753,440

Current assets
investment in FDRs and bonds 13 5,465,000,000 6,455,000,000
Advance, deposit and prepayment 14 90,969,912 79,109,919
Accounts receivable 15 131,483,556 134,441,457
Accrued interest 16 249,134,481 299,732,884
Advance income tax 17 1,081,794,052 818,317,893
clearing and settlement account 18 1,137,520,352 2,569,229,155
ESS operation account 19 320,117,619 621,844,780
cash and cash equivalents 20 944,223,863 879,762,898
total current assets 9,420,243,835 11,857,438,986

total assets 22,064,565,007 24,879,331,859

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 Dhaka Stock Exchange Limited
Statement of Financial Position
As at 30 June 2020

30 June 2020 30 June 2019

Particulars notes BDT BDT

eQuItY & LIaBILItIes

equity
Share capital 21 18,037,765,000 18,037,765,000
Retained earnings 542,699,868 1,170,616,527
total equity 18,580,464,868 19,208,381,527

non-current liabilities
Liability for gratuity 22 29,539,547 263,136,298
Settlement guarantee fund 23 18,033,505 17,209,008
Lease liabilities 24 1,502,765 -
Liabilities to TREc holders' and others 25 236,940,462 233,185,546
total non-current liabilities 286,016,279 513,530,852

Current liabilities
clearing and settlement account 26 1,087,575,395 2,523,336,755
Lease liabilities 24 2,810,770 -
Accounts payable 27 519,412,973 755,905,715
Payable for ESS 28 228,349,003 528,782,152
Listing fees received in advance 75,099,697 70,023,548
Liabilities for security deposit 29 66,127,995 105,559,447
Dividend payable 30 234,275,900 195,709,747
Withholding tax and VAT 31 10,025,222 22,052,738
Payable to WPPF 32 26,591,462 65,073,559
Provision for income tax 33 947,815,443 890,975,819
total current liabilities 3,198,083,860 5,157,419,480
total liabilities 3,484,100,139 5,670,950,332
total equity and liabilities 22,064,565,007 24,879,331,859
net assets Value (naV) per share 10.30 10.65

The annexed notes 1 to 64 form an integral part of these financial statements.

Md. Eunusur Rahman Salma Nasreen ndc Mohammad Shahjahan

chairman Director Director

Kazi Sanaul Hoq Mohammad Asadur Rahman, FCS

managing Director company Secretary

Dated, Dhaka A. Qasem & Co.

30 november 2020 chartered Accountants

168 DSE ANNUAL REPORT n­2019-20

 Dhaka Stock Exchange Limited
Statement of Profit or Loss and other Comprehensive Income
For the year ended 30 June 2020

30 June 2020 30 June 2019

Particulars notes BDT BDT

operating revenue
Transaction fees 34 376,951,395 723,262,755
Fees and charges from listed companies 35 207,649,609 243,935,857
Sale of data and others 36 87,023,934 203,400,343
interest and dividend 37 845,526,676 964,734,271
Licensing fees 38 38,184,900 44,054,520
income from nikunja Building 39 3,772,980 -
miscellaneous income 40 12,265,695 10,132,873
total revenue 1,571,375,189 2,189,520,619

operating expenses
Personnel expenses 41 382,048,638 394,705,179
Wages for security services 42 1,052,149 1,405,692
Rent, rates and taxes 43 6,379,913 18,337,803
Vehicle, fuel and maintenance expenses etc. 44 20,232,377 19,222,242
Telephone, telex, fax, internet and postage 45 826,831 1,665,636
icT expenses 46 215,948,552 203,571,828
Utilities 47 8,005,849 11,723,757
Repair and maintenance 48 5,302,977 5,390,692
Printing and stationery 49 6,760,431 7,470,353
Advertisement, subscription and promotional expenses 50 17,615,788 14,977,344
general insurance 51 1,010,216 854,716
Legal, audit and other professional fees 52 11,062,241 6,502,647
Seminar, conference and meeting expenses 53 16,199,062 20,454,668
contribution to investors' protection fund 54 371,642 1,411,691
Expenses for nikunja building 55 205,745,176 -
Depreciation and amortization 56 99,913,714 101,263,554
Provision for doubtful debt 57 10,756,564 10,331,141
interest expenses, excise duty and bank charges 58 3,722,373 3,686,928
WPPF expenses 59 26,591,462 65,073,559
total operating expenses 1,039,545,955 888,049,430
Income before tax 531,829,234 1,301,471,189
income tax expenses
current tax 33 56,839,624 389,821,964
Deferred tax 8 201,018,019 (63,186,449)
Income after tax 273,971,591 974,835,674
other comprehensive income - -
total comprehensive income for the year 273,971,591 974,835,674

earnings per share (eps) 0.15 0.54

The annexed notes 1 to 64 form an integral part of these financial statements

Md. Eunusur Rahman Salma Nasreen ndc Mohammad Shahjahan

chairman Director Director

Kazi Sanaul Hoq Mohammad Asadur Rahman, FCS

managing Director company Secretary

Dated, Dhaka A. Qasem & Co.

30 november 2020 chartered Accountants

DSE ANNUAL REPORT n­2019-20

169
 Dhaka Stock Exchange Limited
Statement of Changes in Equity
For the year ended 30 June 2020
(Amount in BDT)
Paid-up capital Retained Earnings Total
Particulars BDT BDT BDT
Balance as at 01 July 2018 18,037,765,000 1,097,669,103 19,135,434,103
net income of the year - 974,835,674 974,835,674
cash dividend on ordinary shares - (901,888,250) (901,888,250)
Balance as on 30 June 2019 18,037,765,000 1,170,616,527 19,208,381,527
Balance as at 01 July 2019 18,037,765,000 1,170,616,527 19,208,381,527
net income of the year - 273,971,591 273,971,591
cash dividend on ordinary shares - (901,888,250) (901,888,250)
Balance as on 30 June 2020 18,037,765,000 542,699,868 18,580,464,868

The annexed notes 1 to 64 form an integral part of these financial statements

Md. Eunusur Rahman Salma Nasreen ndc Mohammad Shahjahan

chairman Director Director

Kazi Sanaul Hoq Mohammad Asadur Rahman, FCS

managing Director company Secretary

Dated, Dhaka A. Qasem & Co.

30 november 2020 chartered Accountants

170 DSE ANNUAL REPORT n­2019-20

 Dhaka Stock Exchange Limited
Statement of Cash Flows
For the year ended 30 June 2020

30 June 2020 30 June 2019

Particulars BDT BDT

cash flows from operating activities

cash receipts from customers and others 2,461,772,010 2,563,967,024
cash paid to suppliers, employees and others (3,056,824,384) (1,375,470,561)
interest expenses for lease payment (671,608) -
Payment of income tax (263,476,159) (514,203,685)
interest expenses, excise duty and bank charges (3,722,373) (3,686,928)
net cash generated from/(used in) operating activities (862,922,514) 670,605,850

cash flows from investing activities

investment in FDRs and Bonds (3,370,000,000) (4,330,000,000)
Encashment of fixed deposit receipt (FDR) 4,440,000,000 5,685,000,000
investment in ccBL share - (1,350,000,000)
interest received 862,093,691 967,332,944
capital work-in-progress (134,067,436) (109,350,750)
Dividend received 34,031,387 34,031,387
Purchase of fixed assets (37,493,072) (48,210,058)
Sale of fixed assets 677,421 -
Loan recovery from employees 5,595,057 6,487,608
net cash from / (used in) investing activities 1,800,837,047 855,291,131

cash flows from financing activities

Dividend paid (863,322,097) (872,125,941)
Lease liabilities (principal repayment) (10,131,471) -
net cash used in financing activities (873,453,568) (872,125,941)
net increase in cash and cash equivalents 64,460,965 653,771,040
cash and cash equivalents as at 01 July 2019 879,762,898 225,991,858
Cash and cash equivalents as at 30 June 2020 944,223,863 879,762,898
net operating cash flow per share (0.48) 0.37

The annexed notes 1 to 64 form an integral part of these financial statements

Md. Eunusur Rahman Salma Nasreen ndc Mohammad Shahjahan

chairman Director Director

Kazi Sanaul Hoq Mohammad Asadur Rahman, FCS

managing Director company Secretary

Dated, Dhaka A. Qasem & Co.

30 november 2020 chartered Accountants

DSE ANNUAL REPORT n­2019-20

171
 Dhaka Stock Exchange Limited
Notes to the Financial Statements
As at and for the year ended 30 June 2020

1.0 Background
Dhaka Stock Exchange Limited (Exchange) was incorporated on April 28, 1954 under the name and style of “The East
Pakistan Stock Exchange Association Limited”. The East Pakistan Stock Exchange Association Limited was changed to Dacca
Stock Exchange Limited on may 14, 1964. The spelling of the exchange was officially changed from 'Dacca' to 'Dhaka'
with effect from 10th october 1982. historically exchange was not for profit organization own by their members. on 21st
november, 2013 exchange become demutualized in line with the global trend, keeping the advantages of demutualization
in mind and incompliance of Demutualization Act 2013. The key objective of Demutualization is the separation of trading
right from the ownership and management to bring in better corporate governance.

2.0 nature of business and objectives

The objectives of the Exchange are to establish a sound and stable securities market based on just and equitable principles
of trade as well as to facilitate the business in securities giving due regards to the public interest. The Exchange provides
the listed companies with a channel to seek capital fund from the public and at the same time it provides the investors a
place to buy and sell shares of the listed companies.
Exchange was a non-profit distributing public company up to 20 november 2013 and therefore the property and income
of the Exchange were applied towards the fulfilment of objectives of the Exchange and no portion of profit was paid or
distributed to its members in the form of dividend. The exchange turned into Demutualized Exchange on 21 november
2013.

3.0 significant accounting policies

3.01 Basis of accounting
The financial statements of the exchange have been prepared in accordance with international Financial Reporting
Standards (iFRS) and the relevant requirements of the companies Act, 1994 following the historical cost convention and
accrual basis of accounting except cash flow information.
3.02 presentation and functional currency and level of precision
The financial statements are presented in Bangladeshi currency (BDT) which is the company's functional currency. All
financial information presented in BDT has been rounded off to the nearest integer.
3.03 use of estimates and judgments
The preparation of financial statements requires management to make judgments, estimates and assumptions that affect
the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates
and underlying assumptions are based on past experience and various other factors that are believed to be reasonable
under the circumstances, the result of which form the basis of making judgments about the carrying values of assets and
liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future
periods if the revision affects both current and future periods.
3.04 property, plant and equipment (ppe)
(i) Initial recognition and measurement
All property, plant and equipment are stated at cost or valuation less accumulated depreciation. The cost of an asset
comprises its purchase price and any directly attributable cost of bringing the assets to its working condition for its intended
use as per iAS 16 Property Plant and Equipment.
(ii) subsequent expenditure
Subsequent expenditure is capitalized only when it increases the future economic benefit from the assets and that cost can
be measured reliably. All other expenditures are recognized as an expense as and when they are incurred.

172 DSE ANNUAL REPORT n­2019-20

 (iii) depreciation of general assets
Depreciation is charged on straight-line basis at rate varying from 2.5% to 33.33% based on the estimated useful lives of
the assets. The depreciation charge for the period has been recognized in statement of comprehensive income as per iAS
16 Property Plant and Equipment. Assets category wise depreciation rates are as follows:

category of assets Depreciation rates

computer 33.33%
hardware 33.33%
Vehicles 20.00%
Lift 15.00%
Furniture and fixture 15.00%
office equipment 15.00%
Electrical equipment 15.00%
generator 15.00%
Server 15.00%
Building 2.50%

(iv) depreciation of dse tower, nikunja

The useful life of nikunja Building is estimated 60 years and the useful life for other components of the building is estimated
3 to 20 years as per certification of contractor. Depreciation is charged on straight-line basis at rate varying from 1.67%
to 33.33% based on the estimated useful lives of the assets. The depreciation charged for the period has been recognized
in Statement of profit or loss and other comprehensive income as per iAS 16 Property Plant and Equipment.
3.05 provision on listing fee
Provision is made on receivable of listing fee at rate varying from 50% to 100% based on age of receivables. Details are
as follows:
outstanding duration Provision rates
Receivable for 5 years or more 100%
Receivable for 3 years or more 75%
Receivable for 2 years or more 50%

3.06 Intangible asset and amortization of intangible asset

intangible assets are recognized when all the conditions for recognition as per iAS 38 intangible assets are met. intangible
assets acquired separately are measured on initial recognition at cost and are carried at cost less accumulated amortization
and accumulated impairment losses if any. Amortization is calculated using the straight line method to write down the cost
of intangible assets to their residual values over their estimated useful lives based on the management's best estimates.
Subsequent expenditure of intangible assets is capitalized only when it increases the future economic benefits in the
specifications to which it relates. All other expenditure are recognized as an expense as and when they are incurred.
3.07 Biological asset
A biological asset is a living animal or plant. As per iAS 41 Agriculture, an entity shall recognize a biological asset when:
a)The entity controls the asset as a result of past events;
b) it is probable that future economic benefits associated with the asset will flow to the entity;
c) The fair value or cost of the assets can be measured reliably.
DSE had some biological assets upto 2013. however, no biological asset is in the list of property, plant and equipment at
the end of the reporting period.

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 3.08 revaluation of assets
Dhaka Stock Exchange Limited revaluated its owned assets as on 31 march 2013 which have been reflected in the financial
statements. Details of the valuer and summary of reports are as follows:
name of valuer : Rahman Rahman huq
Qualification of valuer : chartered Accountants Firm
Purpose of Revaluation : The purpose of the valuation is to determine an estimated fair market value of the
assets and liabilities of Exchange.
comparison of Assets : (Amount in BDT)
Particulars Assets value Assets value Revaluation
before revaluation after revaluation surplus
Land 90,341,473 4,111,925,873 4,021,584,400
Building (9/F) 3,250,877 37,485,000 34,234,123
Building - nikunja (Work in progress) 1,196,862,525 3,524,900,000 2,328,037,475
Vehicles 14,221,319 23,600,000 9,378,681
others 44,170,274 113,729,765 69,559,491
Branch assets 545,734 729,362 183,628
Land development 1,321,262 - (1,321,262 )
Furniture & fixtures - khulna branch 40,745 - (40,745 )
Biological assets 63,450 - (63,450 )
total 1,350,817,659 7,812,370,000 6,461,552,341

in accordance with section 5 (chha) of the Exchanges Demutualization Act, 2013 this re-valuation has been used to
determine paid up capital of the demutualized exchange and corresponding number of shares at a face value of BDT10
(ten) each. on approval at the Extraordinary general meeting held on 02 november 2013, the authorized capital of
Exchange has been increased from BDT 500,000/- (BDT five hundred thousand) to BDT 25,000,000,000 (BDT twenty five
billion), which has been certified by the Registrar of Joint Stock companies and Firms (RJSc) on 21 november 2013. on
08 January 2014 the paid-up capital of Exchange on the basis of above re-valuation has been recorded in the books of
account at BDT 18,037,765,000/- (BDT eighteen billion thirty seven million seven hundred and sixty five thousand)
consisting of 1,803,776,500 ordinary shares of BDT10 (ten) each by adjusting aforesaid re-valuation surplus.

in line with the iAS 16 para 34, the frequency of revaluations depends upon the changes in fair values of the items of
property, plant and equipment being revalued. When the fair value of a revalued asset differs materially from its carrying
amount, a further revaluation is required. Some items of property, plant and equipment experience significant and volatile
changes in fair value, thus necessitating annual revaluation. Such frequent revaluations are unnecessary for items of
property, plant and equipment with only insignificant changes in fair value. instead, it may be necessary to revalue the
item only every three or five years.

Exchange believes that the fair value of the revalued assets will not differ materially from its carrying amount of property,
plant and equipment. Therefore, no revaluation exercise was carried out at the end of the reporting period.

3.09 Initial application of new standard IFrs 16 Leases

Exchange has initially applied iFRS 16 from 1 July 2019. Due to the transition methods chosen by the Exchange in applying
the standard, comparative information throughout these financial statements has not been restated to reflect the
requirements of this new standard. A lessee recognizes a right-of-use asset representing its right to use the underlying asset
and a lease liability representing its obligation to make lease payments. iFRS 16 replaces existing leases guidance, including
iAS 17 Leases. The standard is effective for annual periods beginning on or after 1 January 2019.

The most significant impact identified is that, the Exchange will recognize new assets and liabilities for its operating leases
of offices facilities. in addition, the nature of expenses related to those leases will now change as iFRS 16 replaces the
straight-line operating lease expense with a depreciation charge for right-of-use assets and interest expense on lease
liabilities.

174 DSE ANNUAL REPORT n­2019-20

 At transition, lease liabilities were measured at the present value of the remaining lease payments, discounted at the market
borrowing rate as at 1 July 2019. Right-of-use assets are measured at their carrying amount as if iFRS 16 had been applied
since the commencement date, discounted using the lessee’s incremental borrowing rate at the date of initial application
Exchange used the following practical expedients when applying iFRS 16:
i) Applied a single discount rate to a portfolio of leases with similar characteristics.
ii) Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease
term.
3.10 Investment in equity instrument
(i) Classification
The company classifies its financial assets in the following measurement categories:
those to be measured subsequently at fair value (either through other comprehensive income, or through profit or
loss), and
those measured at amortised cost.
The classification depends on the entity’s business model for managing the financial assets and the contractual terms of
the cash flows.
For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income.
For investments in debt instruments, this will depend on the business model in which the investment is held. For investments
in equity instruments, this will depend on whether the company has made an irrevocable election at the time of initial
recognition to account for the equity investment at fair value through other comprehensive income.
Exchange reclassifies debt investments when and only when its business model for managing those assets changes.
(ii) Measurement
At initial recognition, Exchange measures a financial asset at its fair value plus, in the case of a financial asset not at fair
value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction
costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.
debt instruments
Subsequent measurement of debt instruments depends on the company’s business model for managing the asset and the
cash flow characteristics of the asset. There are three measurement categories into which Exchange classifies its debt
instruments:
amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely
payments of principal and interest are measured at amortised cost. A gain or loss on a debt investment that is subsequently
measured at amortised cost and is not part of a hedging relationship is recognised in profit or loss when the asset is
derecognised or impaired. interest income from these financial assets is included in finance income using the effective
interest rate method.
Fair value through other comprehensive income (FVoCI): Assets that are held for collection of contractual cash
flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest,
are measured at fair value through other comprehensive income (FVoci). movements in the carrying amount are taken
through oci, except for the recognition of impairment gains or losses and interest revenue which are recognised in profit
and loss. When the financial asset is derecognised, the cumulative gain or loss previously recognised in oci is reclassified
from equity to profit or loss. interest income from these financial assets is included in other income using the effective interest
rate method.
Fair value through profit or loss: Assets that do not meet the criteria for amortised cost or FVoci are measured at fair
value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit
or loss and is not part of a hedging relationship is recognised in profit or loss and presented net in the statement of profit
and loss within other gains/(losses) in the period in which it arises. interest income from these financial assets is included
in other income.
equity instruments
The Exchange subsequently measures all equity investments at fair value. Where the Exchange’s management has preferred
to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent
reclassification of fair value gains and losses to profit or loss. Dividends from such investments continue to be recognised
in profit or loss as other income when the company’s right to receive payments is established.

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175
 changes in the fair value of financial assets at fair value through profit or loss are recognised in other gain/(losses) in the
statement of profit and loss. impairment losses (and reversal of impairment losses) on equity investments measured at
FVoci are not reported separately from other changes in fair value.
(iii) Impairment of financial assets
Exchange assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost
and FVoci debt instruments. The impairment methodology applied depends on whether there has been a significant
increase in credit risk.
(iv) de-recognition of financial assets
A financial asset is de-recognised only when;
Exchange has transferred the rights to receive cash flows from the financial asset or
Retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to
pay the cash flows to one or more recipients.
Where the entity has transferred an asset, Exchange evaluates whether it has transferred substantially all risks and rewards
of ownership of the financial asset. in such cases, the financial asset is de-recognised. Where the entity has not transferred
substantially all risks and rewards of ownership of the financial asset, the financial asset is not de-recognised.
Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the
financial asset, the financial asset is de-recognised if Exchange has not retained control of the financial asset. Where the
exchange retains control of the financial asset, the asset is continued to be recognised to the extent of continuing involvement
in the financial asset.
(v) Income recognition
Interest income
interest income from debt instruments is recognised using the effective interest rate method. The effective interest rate is the
rate that exactly discounts estimated future cash receipts through the expected life of the financial assets to the gross carrying
amount of a financial asset. When calculating the effective interest rate, Exchange estimates the expected cash flows by
considering all the contractual terms of the financial instrument but does not consider the expected credit losses.
dividend income
Dividends are recognised in profit and loss only when the right to receive payment is established, it is probable that the
economic benefits associated with the dividend will flow to Exchange, and the amount of the dividend can be reliably
measured.
3.11 Investors' protection Fund (IpF)
"iPF was established in accordance with the provisions of investors’ Protection Fund Regulations - 1999. These Regulations
have been replaced by investors’ Protection Fund Regulations 2014. As per regulation 3, the purpose of this iPF is to protect
the interest of the investors in case of default by the TREc holders. it shall also keep a provision which shall provide Exchange
the power to set-off the security deposit by any TREc holder if there remains any unsettled dues owed by a TREc holder to
its customers. iPF was created on August 14, 2000 with an amount of BDT 1 million.
Exchange contributes on quarterly basis to the fund, the amount representing 0.50% of the listing fees received by the
Exchange during the immediate preceding quarter which is placed to the fund after close of each quarter.
3.12 settlement Guarantee Fund (sGF)
As per section 4 (1) of Settlement guarantee Fund Regulations 2013, dated December 04, 2013, it is required to create
and operate a Settlement guarantee Fund. contribution to this fund shall be maintained as prescribed in section 5 and
shall be managed by " SgF management committee" of the Exchange as defined in section 4(2) of the said Regulations.
The objective of the SgF is to reduce the settlement risk in trades of Exchange and to ensure settlement of the trades in the
manner prescribed by the SgF regulations and the Dhaka Stock Exchange (Settlement of Transactions) Regulations 2013.
SgF was created on June 22, 2014 with an amount of BDT 25,000/- (twenty five thousand) only. Total balance of the fund
as on 30 June 2020 stands at BDT 18,033,505.
Exchange discharge the responsibilities of clearing and settlement functions in light with the power conferred by the Securities
and Exchange ordinance, 1969 (ordinance no. xVii of 1969). The Bangladesh Securities and Exchange commission
(BSEc) enacted clearing and Settlement Rules, 2017 on 11th June, 2017 to create a separate clearing and Settlement
company in line with the best practices of global capital market.

176 DSE ANNUAL REPORT n­2019-20

 in pursuant to the Rule 3 of the clearing and settlement rule 2017 a company named "central counterparty Bangladesh
Limited' incorporated with the Registrar of Joint Stock company on 14th January, 2019. Bangladesh Securities and Exchange
commission in it's letter dated January 09, 2019 given consent to the central counterparty Bangladesh Limited to raise
paid up capital BDT 300 crore, i.e., 300,000,000 shares @ BDT 10/- each of which DSE subscribed 45% shares of ccBL
@ BDT 10 each i.e., total investment of BDT 1,350,000,000. The upcoming clearing company shall have to create a
Settlement guarantee Fund in light with the new Rules. Accordingly, the Exchange will not be required to build up the same
fund when the new clearing company is in place. Under the circumstances stated above, BSEc had extended the funding
requirement of the Settlement guarantee Fund (SgF) till 31st December, 2019 under the existing regulations. An another
application submitted to BSEc for extension of the funding requirement of the Settlement guarantee Fund (SgF) till 31st
December, 2021 under the existing regulations.
3.13 Capital work-in-progress
Property, plant and equipment etc. that is under construction/acquisition is accounted for as capital work in progress until
construction/acquisition is completed.
3.14 Impairment
As per iAS 36 impairment of Assets, the carrying value of the company's assets are reviewed at the end of each reporting
period to determine whether there is any indication of impairment. if any such indication exists, then the asset's recoverable
amount is estimated. An impairment loss is recognized whenever the carrying amount of the assets or its cash generating
unit exceeds its recoverable amount. impairment losses if any, are recognized in the statement of profit or loss and other
comprehensive income. During the period there is no loss due to impairment of assets.
3.15 provision
As per iAS 37 Provisions, contingent Liabilities and contingent Assets, a provision is recognized in the statement of financial
position when the company has a legal or constructive obligation as a result of past event; it is probable that an outflow of
economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the
obligation.
3.16 related party disclosure
As per iAS 24 Related Party Disclosures, parties are considered to be related if one of the party has the ability to control the
other party or exercise significant influence over the other party in making financial and operating decisions. The company
carried out transactions in the ordinary course of business on an arm's length basis at commercial rate with related parties.
3.17 employee benefit obligations
(a) defined contribution plan
Exchange operates a contributory provident fund scheme for its permanent employees. The "Dhaka Stock Exchange
Limited Employees Provident Fund" is funded by equal contributions from the employees and Exchange at pre-
determined rate. The fund is approved by the national Board of Revenue (nBR) w.e.f. 30 April 2002. There is a
separate trustee board for the fund to ensure effective and efficient management of the fund in line with the approved
trust deed.
in line with the notification published by Financial Reporting council (FRc) dated on 07 July 2020, Exchange taken
necessary action to comply with the forfeited subscription of the separated employees’ if any. Trustee neither distributed
forfeited provident fund subscription to the existing members nor separated members in line with the notification of
FRc.
(b) defined benefit plan
The company operates a funded gratuity scheme for its permanent employees, under which an employee is entitled
to the benefits depending on the length of services and last drawn basic salary. The company requires contributions
to be made to a separately administered fund. The Board of Directors of Dhaka Stock Exchange Limited approved
the constitution of gratuity Fund for the employees of DSE in its 915th meeting held on January 9, 2019. in line with
the instruction of the Board, a Board of Trustee has been formed under the name and style of "Dhaka Stock Exchange
Employees gratuity Fund Trust". Trust Deed and Trust Rules were approved by 2nd Secretary (taxation) of nBR on
november 20, 2019 upon submission of an application by the Board of Trustee on July 28, 2019. Subsequently the
fund amount of BDT 263,136,298 as on 30 June, 2019 has been transferred to trust account.
Employees of the Exchange who have completed at least five years of continuous service are entitled to gratuity on
retirement, retrenchment, termination, resignation or death (but not on dismissal).

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 An employee shall be paid gratuity at the following rates:
Condition entitlement
5 to 10 years of continuous service @ 1 month last drawn basic x 1 x number of years served
Above 10 years of continuous service @ 1 month last drawn basic x 2 x number of years served

Full provision for gratuity has been made in the accounts for the existing employees based on their years of service with
Exchange. no actuarial valuation was made for this scheme as per iAS 19 Employee Benefits.

(c) Home loan

All regular employees who have served Exchange at least for a period of minimum 5 (five) years are eligible to get this
loan for the purpose of land acquisition / house construction / flat purchase. The loan amount will be maximum or equal
to 120 (one hundred twenty) months' basic salary with 4% simple interest. The repayment period is maximum 15 (fifteen)
years. The loan is secured through registered mortgage of land / building / flat etc.
(d) Car loan
Employee will be entitled for the car scheme support for official and personal use under the car scheme policy approved by
the Board. All regular officials from the rank of Deputy general manager (Dgm) to general manager (gm) will be provided
interest free car loan for five years to purchase a car. The ceiling of car loan is BDT 18 (eighteen) lac for gm & 16 (sixteen)
lac for Dgm.
(e) earned leave encashment
All regular employees including chief Regulatory officer (cRo) will be entitled to encashment of accumulated Earned Leave
(EL) maximum fifty percent (50%) or 30 days whichever is lower in a year. Full encashment of accumulated EL (if any) may
be granted only in case of resignation, retirement or termination from the service.
(f) other employee benefit obligation
1 All permanent and regular employees of DSE -
(i) are insured under group life policy.
(ii) along with their spouse are insured under group health policy.
(iii) are entitled to get 2 (two) festival bonus which is equal to 2 (two) months basic salary.
(iv) are entitled to get Bengali new year allowance which is equal to 20% of basic salary.
2 The employees of DSE from Junior Executive and above (in case of female, office Assistant & above) are eligible for
pool transport facility.
3.18 Workers profit participation fund
Exchange contributes @ 5% of net profit to workers' profit participation and welfare fund in line with provision of the
Bangladesh Labour Law 2006. There is a separate trustee board for the fund to ensure effective and efficient management
of the fund in line with the approved trust deed and relevant provision of the labour law.
3.19 revenue recognition
As per iAS 18 Revenue, the revenue is recognized when the amount of revenue can be measured reliably and it is probable
that the economic benefits associated with the transaction will flow to the Exchange.
Transaction fee, listing fee, TREc Fee, dividend income etc. are recognized when the right to received payments are
established. interest income is recognized on accrual basis.

transactions Fee
(a) in case of equity trade:
For any single block trade, floor crossing and DVP (Delivery versus Payment) transactions having traded value of BDT
50,00,000 ( fifty lac) only or more, transaction fee is @ 0.0125% of traded value. For any other trade, transaction fee is @
0.025% of traded value. Transaction fee is recoverable from both buyer and seller at the prescribed rate.
(b) in case of bond trade:
Transaction Fee is BDT 50.00 (BDT fifty) per trade with effect from December 18, 2014.
Initial listing fees
Exchange collects initial listing fee from the listed company in line with listing regulations, 2015 at the following rates:

178 DSE ANNUAL REPORT n­2019-20

 (i) Up to BDT 10 crore of paid-up capital or fund @ 0.25%
(ii) Above BDT 10 crore of paid-up capital or fund @ 0.15%
however, the total initial listing fee shall be minimum of BDT 50,000.00 (fifty thousand) and maximum of BDT
10,000,000.00 (ten million) for each Securities.
Whenever an issuer increases the number of securities listed with the Exchange, pay the Exchange a fee at the same rate
as mentioned above for the additional securities to be listed.
annual listing fees
Every issuer of listed securities pay annual listing fee to the Exchange within 31st march of every gregorian calendar year
in line with listing regulations, 2015 at the following rates:
(i) Up to BDT 100 crore of paid-up capital or fund @ 0.05%
(ii) Above BDT 100 crore of paid-up capital or fund @ 0.02%
however, the total annual listing fee shall be minimum BDT 50,000.00 (fifty thousand) and maximum BDT 6,00,000.00
(six lac) for each securities.
3.20 taxation
Exchange was exempted from income tax as per SRo no. 102- Ain/96 dated on 18th June, 1996, issued by national
Board of Revenue (nBR). After demutualization, Exchange has been given tax holiday for five years at graduated rate
effective from 1 July 2014 as per SRo no.157-Ain/Aykar/2014, dated on 26 June 2014, issued by nBR. moreover, nBR
has revised the tax exemption rate from 80% to 100% for FY 2015-16 as per SRo no.109 - Ain/Aykar/2016, dated on 21
April 2016.
The effective tax rate of the Exchange in different Financial Years in light with the SRo issued by the nBR are presented
below:

Financial Assessment Tax exemption Tax exemption rate Tax exemption rate Effective tax rate
Year Year period as per original as per revised of the Exchange
SRo of 2014 SRo of 2016
2014-2015 2015-2016 1st year 100% 100% 0%
nd
2015-2016 2016-2017 2 year 80% 100% 0%
2016-2017 2017-2018 3rd year 60% 60% 14%
2017-2018 2018-2019 4th year 40% 40% 21%
th
2018-2019 2019-2020 5 year 20% 20% 28%
2019-2020 2020-2021 6th year 0% 0% 32.50%

3.21 Foreign currencies translation/transaction

Transactions in foreign currencies are translated to the functional currencies at exchange rates at the date of the transactions.
monetary assets and liabilities denomination in foreign currencies at the reporting date are retranslated to the functional
currency at the exchange rate at that date.
non-monetary assets and liabilities denominated in foreign currencies that are measured at fair value are retranslated to
the functional currency at the exchange rate at that date the fair value was determined. non monetary items in a foreign
currency that are measured based on historical cost are translated using the exchange rate at the date of transaction.
Foreign currency differences arising on transaction are recognized in the statement of comprehensive income as per iAS 21
The Effects of changes in Foreign Exchange Rates.

3.22 reporting currency

All monetary figures presented in the financial statements are in Bangladeshi currency "BDT" except otherwise stated.
3.23 Cash and cash equivalents
cash and cash equivalents represents petty cash and bank balances as on 30 June 2020 as per iAS 7 Statement of cash
Flows.
3.24 preparation of the financial statements
The Board of Directors of the Exchange is responsible for the preparation and presentation of the financial statements.

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 3.25 events after the reporting period
Events after the reporting period that provide additional information about the company's position at the date of statement
of financial position are reflected in the financial statements. Events after the reporting period that are not adjusting events
are disclosed when material as per iAS 10 Events after the Reporting Period.
3.26 Contingent liability
contingent liability is a possible obligation that arises from past events whose existence will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within control of the entity. contingent
liability that should not be recognized in the financial statement as per iAS 37 Provisions, contingent Liabilities and
contingent Assets only disclosed in the financial statement as information if applicable. A provision should be recognized
in the period in which the recognition criteria of provision have been met.
3.27 reporting period
The reporting period of the Exchange covers twelve months from 01 July 2019 to 30 June 2020.
3.28 status of compliance of International accounting standards (Ias) and International Financial reporting
standards (IFrs).
in preparing the financial statements, Exchange applied following iAS and iFRS:

sl. name of the Ias Ias no. status

1 Presentation of Financial Statements 1 Applied
2 inventories 2 n/A
3 Statement of cash Flows 7 Applied
4 Accounting Policies, changes in Accounting Estimates and Errors 8 Applied
5 Events after the Reporting Period 10 Applied
6 income Taxes 12 Applied
7 Property, Plant and Equipment 16 Applied
8 Employee Benefits 19 Applied
9 Accounting for government grants and Disclosure of government Assistance 20 n/A
10 The Effects of changes in Foreign Exchange Rates 21 Applied
11 Borrowing costs 23 Applied
12 Related Party Disclosures 24 Applied
13 Accounting and Reporting by Retirement Benefit Plans 26 n/A
14 Separate Financial Statements 27 n/A
15 investment in Associates and Joint Venture 28 n/A
16 Financial Reporting in hyperinflationary Economies 29 n/A
17 Financial instruments: Presentation 32 Applied
18 Earnings Per Share 33 Applied
19 interim Financial Reporting 34 n/A
20 impairment of Assets 36 Applied
21 Provisions, contingent Liabilities and contingent Assets 37 Applied
22 intangible Assets 38 Applied
23 investment Property 40 n/A
24 Agriculture 41 n/A

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 s.L name of the IFrs IFrs no. status
1 First-time Adoption of international Financial Reporting Standards 1 n/A
2 Share-based Payment 2 n/A
3 Business combinations 3 n/A
4 insurance contracts 4 n/A
5 non-current Assets held for Sale and Discontinued operations 5 n/A
6 Exploration for and Evaluation of mineral Resources 6 n/A
7 Financial instruments: Disclosures 7 Applied
8 operating Segments 8 n/A
9 Financial instruments 9 Applied
10 consolidated Financial Statements 10 n/A
11 Joint Arrangements 11 n/A
12 Disclosure of interests in other Entities 12 n/A
13 Fair Value measurement 13 Applied
14 Regulatory Deferral Accounts 14 n/A
15 Revenue from contracts with customers 15 Applied
16 Leases 16 Applied

3.29 risk Management oversight

The Exchange has an enterprise-wide risk assessment and review mechanism which inter alia consists of risk identification,
assessment and categorization of risks. Risk management at DSE covers major businesses and functional objectives including
Strategy, operations, Technology and compliance. The Exchange has a Audit & Risk management committee (ARmc),
consists of Board members, which meets periodically to review the efficacy and adequacy of the Exchange’s risk management
exercise and the controls and mitigation plans put in place to reduce the overall impact of the various inherent risks. The
risks in relation to internal control over financial recording and reporting is also reviewed by the committee. The exchange’s
internal control systems are commensurate with the nature of its business and the size and complexity of operations. These
systems are routinely tested and certified by Statutory as well as internal Auditor. The said committee reviews adequacy
and effectiveness of the company’s internal control environment and monitors the implementation of audit
recommendations, including those relating to strengthening of the company’s financial risk management policies and
systems.
risk Culture
our risk culture is the collective attitudes and behaviour of our people that influence risks and impact outcomes. Risk culture
provides a specific lens allowing general concerns about culture to focus on risk-taking and risk control activities. A strong
emphasis is placed on the timely identification and reporting of risk exposures and in the strategic analysis of prevailing or
anticipated risks. our collaborative approach between cultural mechanisms and behavioural outcome creates the right
environment to develop a risk culture which is sustainable and where strong control mechanisms reinforce the propensity
of people to behave properly.
risk appetite
DSE’s Risk Appetite is defined as the level of risk that the exchange will accept in pursuant of its strategic objectives. The Risk
Appetite Statement of DSE, proposed by the Risk management Department (RmD) through management committee
(mAncom) and ARmc is reviewed by the Board at least annually and this statement is determined in conjunction with the
exchange’s strategy and aligned to the Strategic Risk objectives. The exchange Risk Appetite is cascaded down to each
department. Risks that are outside Risk Appetite are escalated to mAncom and to the Audit & Risk management committee.
The Risk Appetite status is also reported to the Board for their review and direction.

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 Risk Appetite Components

Culture

STRATEGIC RISKS

Stakeholder Confidence and Trust

Earnings
FINANCIAL OPERATIONAL

Capital Operational Stability

Liquidity Operational Excellence

Clearing & Settlement concentration Security

Investment Listing & Enforcement

Dividend announcement Other Compliance

risk Management approach

our approach to managing risks includes a bottom up and a top down approach. The risk function is dependent on the
calculation of major internal & external identified risk. The function’s main role is to maintain a fit for purpose with Enterprise
Risk management Framework (ERmF) and recommend to the A&Rmc and to the Board for their information and direction.
it also reviews and monitors the risk profile of the exchange and ensures it remains within Risk Appetite. The function supports
the Risk committee members by providing reports on the potential risk profile and timely escalation of exceptions. it also
monitors compliance with rules and regulations and develops and maintains frameworks to facilitate the identification,
assessment, reporting and monitoring of all the principal risks that could materially impact the reputation, financial position
or operations of the exchange.
risk reporting
"Risk disclosure and oversight are fundamental components of risk reporting. our risk reporting systems ensure effective
decision making and are capable of identifying actual and emerging risks. Reports along with recommendations are
prepared at agreed intervals based on systematic analyses of information on potential risk events. Risk reports are submitted
to the Audit & Risk management committee through mAncom for an overview of the current risk exposure and their
management. This report is consolidated and issued to the DSE Board (including minutes of the ARmc), effectively giving
the Board full visibility of the overall risk profile of the organization and the actions being taken to manage this risk.
The senior management team has increased its oversight activities in order to bolster the DSE’s risk lines of defense. close
cooperation with internal audit further facilitates this function. mAncom provides oversight on specialized risk management
areas to ensure a standardized and consistent approach to risk management. "
risk Management Cycle
Exchange’s Risk management process is set out in the Risk management cycle. The cycle begins with Business Strategy and
feeds back to it which is ultimately determined by both internal and external drivers. This ensures that the management and
assessment of risk remains a fundamental component of the exchange's strategic decision making process.

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 Business
Strategy
Risk management
activity supports the
business strategy

Risk Risk Appetite

Monitoring The level of risk that
Monitor and exchange is willing to
report on accept in pursuit of
our risks our strategy

Risk policies
Risk Capture
Minimum standards
Identify all key risk for our people and
exposures monitor compliance

principal risks and uncertainties:

overview of principal risks and uncertainties are addressed below including to our current mitigation practices :
3.29.1 clearing & Settlement (cS) Risk
3.29.2 Listing and Enforcement Risk
3.29.3 icT including information security risk
3.29.4 Physical security & hazard risk
3.29.5 operational Risk
3.29.6 credit risk
3.29.7 market Risk
3.29.8 Reputational Risk

3.29.1 Clearing & settlement (Cs) risk

Unlike the other exchanges, clearing & Settlement (cS) risk may arise due to the failure of its clearing activities. This may
also turn into credit, liquidity, reputation & compliance risk as well. cS risk is one of the major risks for any exchange around
the world. currently, we have no ccPs in the country's capital market. our clearing accounts department plays the entire
function of the DSE's clearing & settlement activities. The department manages the said risk through strong monitoring and
supervising activities on its clearing members. As a result, a very few no. of default cases were arisen with small amount of
value for the last few years. Since, our market is only equity based which comparatively encompasses less risk than the market
which are dealing with derivatives and forex activities. however, any default by a clearing member that could not be managed
within the resources of the defaulted clearing member, could adversely affect our revenues and customers’ trust.

Management of Clearing & settlement (Cs) risk

Prudent levels of margin and default funds are kept to cover the risk exposures of trade participants. Each member deposits
margins, computed at least daily, to cover the theoretical costs which the clearing service would incur in order to close out
open positions in the event of the member’s default. clearing members also have options to contribute in Settlement
guarantee Fund (SgF). counterparty risk is mitigated through pre-positioning (availability of security) and pre-funding
(availability of cash) by uploading client position file (both securities and fund) in our centrally operated order management
System (omS) before trade started on each day.

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 clearing accounts department has been given unconditional authority by the clearing members on their money maintained
with the designated clearing banks to make any adjustment when necessary. So, any unexpected situation associated with
the value of the underlying transaction is minimized with the application of this unconditional authority. however, in case
of failure in share settlement, DSE purchases shares from the open market (Buy-in-Board) when the default occurred. The
clearing department also keeps continues communication with our sole cDS namely 'cDBL' and manages cS risk due to
operational error within the purview of jurisdiction.

operational risk is minimized via highly automated processes reducing administrative activities while formalizing procedures
for all services.

3.29.2 Listing and enforcement risk

There are risks of market manipulations and agitation of investors which could make the market unstable. market
Surveillance & Enforcement Risk arises due to unfair activities by the market participants. it relates to all the six departments
of Regulatory Affairs Division of the exchange. Failure to maintain proper market surveillance and enforcement on the
market participants will cause negative effect to the trust on the capital market and increase volatility of the market and
reduce the trade volume in turn. Lack of proper monitoring on fund utilization through iPo may also cause inefficiencies in
capital market. Faulty Quarterly report, shareholding status report, corporate disclosure report will give wrong information
to the investors. overstated price discovery through BBS may erode the trust on our market. insufficient regulatory framework
could also cause instability of the market.

Management of regulatory affairs risk /Listing and enforcement risk

The exchange continues to maintain systems and controls to mitigate compliance risk. The cgFRc, moPS and LAD are
involved to mitigate listing risk. RAD always oversees the market intermediaries, general investors and listed companies to
make our market fair and transparent. They also keep continuous communication with the regulator BSEc and resolve
unexpected issues according to their advice. our Surveillance department engages to identify any unfair and manipulative
activities in the market and take actions according to the merit and relevant laws. Surveillance department also uses updated
software to watch the market activities instantly. Any complain by the general investors is being solved with highest priority
and importance. Team from RAD monitors the activities of TREc holders and listed companies by visiting their offices
regularly. compliance policies and procedures are regularly reviewed to ensure that exchange and its staffs are compliant
with applicable laws and regulations and uphold our corporate standards.

3.29.3 ICt including information security risk

The icT landscape is vulnerable to various forms of attacks. The frequency and malignancy of such attacks are increasing.
We implement security solutions at the data, application, database, operating systems and networks to adequately address
related threats. Appropriate measures shall be taken to protect sensitive or confidential information.

The threat of cybercrime requires a high level of scrutiny as it has the potential to have an adverse impact on our business.
A major information security breach could have a significant negative impact on our reputation, financial costs for
remediation, fines and regulatory impacts and on the confidence of our client. icT risk arises from the following major
reasons:

1. Data theft/loss

2. Software crashes due to computer virus

3. hardware crash

4. Power interruption

5. network backbone collapse

6. Absence of DR (disaster recovery) Site.

Management of ICt including information security risk

Required iT measures and control framework are in place to mitigate and monitor cyber security. Exchange is continuously
investing to enhance its information security control and operational process according to the cyber Security Strategy. The
performance and availability of the systems are constantly reviewed and monitored to prevent any breach and to ensure a
prompt response against any potential service interruption issues.

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 DSE has invested in new capabilities to defend against iT risk and also provide staff training, awareness on cybercrimes.
our people and systems are always on alert and able to respond to cyber threats. We are always proactive to identify areas
of improvement in our defenses to address the emerging and evolving cyber security risks. DSE has the information security
policy which defines the principles of establishing effective security measures to ensure confidentiality, integrity and availability
of its information assets.

3.29.4 physical security & hazard risk

Terrorist attacks and similar activities directed against our offices, operations, computer systems or networks could disrupt
our markets, harm staff, tenants and visitors, and severely disrupt our business operations. civil or political unrest could
impact on business of the Exchange. Long-term unavailability of key premises could lead to the loss of client confidence
and reputational damages. So, the hazard risk arises due to attack by nature like a flood, fire, earthquake, power
fluctuation, etc. will cause permanent loss of data. Additionally, physical security risk arises due to attack by the malicious
party, which includes terrorism, vandalism, and theft will also cause the loss of data due to materializing personal gain,
financial gain, for seeking revenge where the vulnerable target is available.

Management of physical security & hazard risk

DSE is reliant upon secured premises to protect its employees and physical assets as well as appropriate safeguards to
ensure uninterrupted operation of its iT systems and infrastructure. Security threats are treated very seriously. The exchange
has robust physical security arrangements. We are strongly supported by the DmP for any kind of threats and violent activities.
our own security department works properly to protect the property and assets. We also hire security forces from security
service providers to strengthen our physical security system. Where events are detected, retained response support services
are mobilized instantly. The exchange has well established and regularly tested physical security systems and monitor hazards
to avoid business interruption and damages.

3.29.5 operational risk

The operational Risk lies with the loss resulting from inadequate or failed internal processes, people and systems, or from
external events. in short, operational risk is the risk of doing business. As such, operational risk captures business continuity
plans, environmental management, crisis management, process systems, appropriate operations, people management,
health & safety and proper utilization of information technology. in fact, these are associated with our regular activities and
may arise with the course of daily business.

Lack of or poor performance management practices not aligned to achieving organizational goals, continual feedback of
employee performance and engagement may arise dissatisfaction among the all level of employees. Absence of proper
people management and staff engagement, failure to recognize teamwork and collaboration of key employees. inadequate
development of people, training in specific skills, particularly in leadership, coaching and mentoring, communication,
motivation and change management may affect adversely to our operations and business as well.

Small control failures and minimized issues—if left unchecked on the aforementioned issues can lead to greater risk and
exchange-wide failures. it’s a chain reaction that can be fatal to a company’s reputation and possibly even to its existence.

Management of operational risk

operational risk exposures are managed through a consistent set of management processes, control and monitoring tools.
All departments are responsible for setting and maintaining standards for operational risk management. The Exchange
also has advanced computer systems that enable it to run operations with speed and accuracy. We have improved the
reliability of business operations through strengthening the decision-making process where risks are involved. We are also
improving the effectiveness of the risk management operations by reduction in losses caused by poorly-identified risks and
early identification of unlawful activities.

hR risk are managed through proper remuneration, reward and recognition which are based on performance and
contribution to the organization's overall goals.

3.29.6 Credit risk

credit risk is the risk of losing credit resulting from the failure of customers, borrowers or counterparties to meet their debt
or contractual obligations. it arises when a number of counterparties are engaged in similar business activities and fails to
meet contractual obligations due to changes in economic, political or other conditions.

Exchange are exposed to credit risk as a result of its clearing activities. A default by a clearing member that could not be
managed within the resources of the defaulted clearing member, could adversely affect in revenues and its customers’
goodwill. There is a threat of credit risk as a result of investing in FDR and bonds with bank and nBFis if they fail to honor

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 the contracts when obligations are due. our credit risk exposure is also increasing with the extension of overdue listing fee
receivables from the oTc companies year over year. Due to lacking of appropriate oTc market structure and
appropriateness of credit management for the indebtedness companies are the main reasons of this risk.

Management of credit recovery risk

one of the income source of Exchange is listing fee which is governed by the listing regulation and risk involved herewith
for non receipt of that fee on due time. Listing Affairs Dept. (LAD) and oTc dept. communicate with the default companies
to pay their dues in acceptable manner. We communicate continuously to the overdue companies by the engagement of
our senior management and also of our directors in applicable cases for insisting them to pay their overdue receivables
instantly.

concentrations of credit risk with respect to trade receivables are limited on account of member’s deposits kept by the
company as collateral which can be utilized in case of member default. All trade receivables are reviewed and assessed on
a regular basis.

The company maintains exposure in cash and cash equivalents with banks. The exchange has diversified portfolio of
investment with various number of counter-parties which have secure credit ratings hence the risk is reduced. individual risk
limits are set for each counter-party based on financial position, credit rating and past experience according to our investment
policy. credit limits and concentration of exposures are actively monitored by the exchange treasury department. "

3.29.7 Market risk

market risk is the possibility of experiencing losses due to factors that affect the overall performance of the financial markets
in which it is involved. The most common types of market risk includes interest rate risk, equity risk and currency risk.

operations in foreign currency (Fc) of the exchange are increasing appreciably with the increase of financial activities with
foreign countries in recent times. We receive Fc against our data sale from the foreign vendors and also pay a handsome
amount to the foreign service provider against their iT support services

our trade volume is directly related to interest rate, political stability, monetary and regulatory policy and other macro
economic factors related to our economy. So, there is a risk of dropping trade volume which depends on favourable market
environment.

FDR is one of the major sources of our income. it largely depends on the market interest rate offered by the scheduled
banks and nBFis. So, decreasing in market interest rate causes negatively to our major part of income.

consequently, credit risk will manifest itself as market risk in the event of default of its clearing members. however, this
market risk is only present in the event of default and is referred to as ‘latent market risk’. The latent market risk includes
interest rate risk, equity risk and commodity price risk as well as issuer risk and concentration risk. This risk is greater if
market conditions are unfavourable at the time of the default.

Management of Market risk

To avoid interest loss on Fixed Deposit Receipts (FDRs) due to fluctuation of interest rates, FDR accounts have been opened
with diversified financial institutions as per policy approved by the Board of Directors in its 867th meeting on 08 June 2017
after considering credit rating of those financial institutions. moreover, management reviews the fund policy on regular
basis.

To avoid interest loss on Fixed Deposit Receipts (FDRs) due to fluctuation of interest rates, management invested in long-
term subordinated bonds in only banks and non Banking Financial institutions (nBFis) who are adequately regulated by
Bangladesh bank. our treasury department acts prudently to avoid market risk in effective manner. Treasury dept. also
explores new avenues of investment by taking into account of market risk.

DSE does not invest in mutual funds, exchange traded funds and in equity instruments like other stock exchanges do and
even have no investment in which are directly expose to market risk. DSE invests in only in bonds and FDRs which are not
affected by price risk due to uncertainties in future market values."

3.29.8 reputational risk

DSE is the iconic national brands that are well recognized at national as well as international levels. Any events or actions
that damage the reputation or brands of the exchange could adversely affect its business, financial condition and operating
results. Reputation is important to build up trust in the business. in our market, there is a lack of confidence and trust among

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 the general investors due to our market depth and maturity and also few past events which were not in line to build
confidence. As a result, it does not attract a wide range of investors which is an obstacle to increase the market as it should
grow according to our size of economy. Similarly, there is a good opportunity to make our market size big if we able to
exploit the risk of confidence among the mass investors.

Management of reputational risk

DSE is preparing policies and procedures to ensure the appropriate use of the exchange brands and to maintain the integrity
of the exchange reputation. Exchange actively monitors the use of its brands and other intellectual property in order to
prevent, identify and address any infringements. The exchange protects its intellectual property by relying upon a combination
of trademark laws, copyright laws, patent laws, trade secret protection, confidentiality agreements and other contractual
arrangements with its clients, customers, suppliers, strategic partners and others. our recent international affiliation; joining
Shenzhen Stock Exchange (SEZS) and Shanghai Stock Exchange (SSE) as strategic investor with us has increased our
reputation both domestically and globally. They are the 8th and 4th largest stock exchange group respectively in the world
by market capitalization on April 30, 2018. DSE is also a member of World Federation of Exchanges (WFE) that has created
an opportunity in the area of cooperation and information sharing with other supervisory global bodies and authorities.
So, these will improve our reputations and brand values in future.

however, our reputation depends on a comprehensive set of factors. We rely on our quality of management, innovation,
quality of products and services, community & environmental responsibility, financial soundness, long term investment value,
use of corporate assets, ability to attract talent, people management, quality of marketing and global competitiveness to
improve our reputation.

3.30 CoVId-19 impact on business

The covid-19 pandemic has forced the economic activities of the world to come to a complete standstill for a particular
span of time. The global outbreak of coronavirus (coViD-19) has reached Bangladesh in mid-march 2020. The movement
of person and goods has been significantly disrupted throughout the country at the initial stage. This has significant impact
almost all types of social and economic activities of the country.

Due to government holiday, Exchange's office was completely closed from march 26 to may 30, 2020 (38 trading days)
and afterward we developed “work-from-home strategy” wherever possible to cope up with the new normal environment.
management tried their best to determine the impact of coViD-19 during the general holidays, lockdown situation and
new normal life in the income, expenses, collection, payable and other components of economic activity that has effect on
financial stability of the exchange.

The main business activities of securities trading, new listing, Electronic Subscription System (ESS) and data business were
temporarily halted during the general holidays and lockdown situation. DSE has given waiver of rent of DSE Tower, nikunja
for a period of 9 (nine) months under consideration of pandemic situation. The interest income, one of the key income
components of the exchange, has reduced as the government adopted the policy of single digit interest rate. The pandemic
situation has very minimum impact in interest income and receivable thereon.

on the other hand, in the government declared general holiday (38 trading days) utility, transportation, entertainment,
stationeries, advertisement, seminar, conference, meeting, repairs and maintenance expenses etc. have been reduced
significantly. moreover, management has taken effective cost optimization measures to cope up with the unpredictable
economic environment due to covid19 in line with the direction of the board.

We have succeeded in collection of receivables to maintain better liquidity position. We are fortunate not to borrow fund
from bank, Bangladesh government offered stimulus packages for covid-19 lockdowns situation, to maintain our cash
flows.

Due to concerted effort from regulators, board, management, intermediaries and other stakeholders trade volume, the key
income component of the exchange, has increased significantly since August 2020 and thereby increasing core and
associated income of the exchange.

We do not foresee significant impact of the coViD-19 on business and financial performance of the exchange due to the
well planned concerted initiatives to diversify and safeguard business revenue and effective cost control measures though
it is difficult to predict full extent and duration of the outbreak and its impact on people, business and economy in the
coming days.

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4.00 property, plant and automation equipment

Property, plant and equipment Annexure- A + A1 4,203,114,274 4,187,507,052
Automation equipment Annexure- B + B1 74,785,604 110,493,893
DSE Tower, nikunja Annexure- D 5,167,433,588 -
9,445,333,466 4,298,000,945

5.00 Intangible asset Annexure- c 118,266,962 156,472,356

6.00 Capital work-in-progress

nikunja building project (note: 6.01, 6.02) 5,340,635,035 5,206,567,599
Less : Transfer to fixed asset 5,340,635,035 -
total - 5,206,567,599

6.01 Capital work-in-progress (nikunja building project)

opening balance 2,878,530,124 2,769,179,374
Addition during the year 134,067,436 109,350,750
Less : Transfer to fixed asset 3,012,597,560 -
Closing balance - 2,878,530,124

considering the future potentiality of capital market expansion and its contribution
to the national economy, government facilitated allotment of 4 bigha land (Plot #
46, Road # 21, nikunja) at nikunja at a price of BDT 4 crore. Exchange took over
the possession of this plot on november 25,1998 from RAJUk and commenced its
construction works on February 28, 2007.
however, the building was ready for use with effect from 1 July 2019.

6.02 revaluation of nikunja project 2,328,037,475 2,328,037,475

Less : Transfer to fixed asset 2,328,037,475 -
- 2,328,037,475

Grand total ( 6.01 + 6.02 ) - 5,206,567,599

7.00 right-of-use (rou) assets

DSE is using space of 6,000 SFT and 2,179 SFT for icT setup at motijheel 9/g and
9/E building respectively. Exchange (lessee) and najib malek chowdhury (Lessor)
and Popular Jute Exchange Limited (lessor) engaged in contractual arrangement
since 2008 and 1998 respectively. As per latest renewed period DSE has right to use
the leased asset for 30 months of 9/g building 4th floor & 9/E building 7th floor
and for 18 months of 9/g building 5th floor.

iFRS 16.c12(a) when measuring lease liabilities, the Exchange discounted lease
payments using its incremental borrowing rate at 1 July 2019. The weighted-average
rate applied is 9%.

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Leases information

operating lease commitment 11,754,084 -

Discounted value using the incremental borrowing rate 10,803,079 -

right-of-use assets
opening balance-Adjustment on initial application of iFRS 16 10,803,079 -
Addition during the year - -
Amortization charged for the year (Annexure - E) 4,321,232 -
Closing balance 6,481,847 -

Details are shown in (note no. 3.09) initial application of new standard iFRS 16
Leases.

8.00 deferred tax

temporary timing differences
Property, plant and equipment 187,175,422 282,969,089
DSE Tower, nikunja (363,146,525 ) -
intangible assets 165,396,768 157,104,042
gratuity provision 29,539,547 263,136,298
WPPF provision 26,591,462 65,073,559
net position of RoU assets/liability (2,168,312 ) -
total amount of temporary timing differences 43,388,362 768,282,987
Applicable tax rate 32.5% 28.0%
deferred tax asset / (liability) 14,101,218 215,119,237

Movement of deferred tax are as follows:

opening balance 215,119,237 15,193,278
Add: Deferred tax asset / (liability) for the year (201,018,019 ) 63,186,449
Closing balance 14,101,218 215,119,237

9.00 Loan to employees: above one year

home loan for officials 33,334,239 38,389,296
car loan for officials 50,000 590,000
33,384,239 38,979,296

The above home loan and car loan facilities have been provided to the officials under
home loan policy and car scheme respectively which were approved by Board of
Directors of Exchange. The entire loan balance is realizable and there is no
nonperforming loan. The loan is being realized as per repayment schedule.

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10.00 Investment in CdBL shares

This represents investment in share of central Depository Bangladesh Ltd (cDBL).
The details are as follows:
particulars no. of shares Value per share in Bdt

initial investment 10 1,000,000 10,000,000 10,000,000

Share split 1,000,000 10 10,000,000 10,000,000
Bonus share 5,722,511 10 - -
Right share 890,044 10 8,900,440 8,900,440
Share purchase from ADB 6,000,000 60 360,000,000 360,000,000
Stamp duty - - 5,400,000 5,400,000
total 13,612,555 384,300,440 384,300,440
Valuation adjustment* 432,453,000 432,453,000
total (after valuation) 816,753,440 816,753,440

* Rahman Rahman Huq (valuer) revaluated investment in CDBL shares

on March 31, 2013.

11.00 Investment in bonds

opening balance 1,020,000,000 700,000,000
Add : Addition during the year - 400,000,000
Less : Redemption during the year (80,000,000 ) (80,000,000 )
940,000,000 1,020,000,000
Less: Short term maturity (SiBL) (80,000,000 ) (80,000,000 )
860,000,000 940,000,000

icB coupon Bearing subordinated Bond (note no. 11.01) 400,000,000 400,000,000
SiBL mudaraba subordinated bond (note no. 11.02) 240,000,000 320,000,000
city bank 2nd subordinated bond (note no. 11.03) 300,000,000 300,000,000
940,000,000 1,020,000,000

11.01 icB coupon-bearing non-convertible fully redeemable Subordinated Bond is a

unsecured, unconditional bond issued with the approval of BSEc and BB.
Purpose of this bond is to play the role of market making and primary and
secondary market investment plan & invest as sponsor of nRB mF & nRB
industrial fund & make durable bond market, infrastructure development and
thrust sector of government and loan repayment and to invest PPP project. The
tenure of the coupon-bearing bond is seven (7) years with two (2) years grace
period from the issue date.
coupon payment could be semi-annually beginning at the end of six (6) months
from the issue date on 14 november, 2018. Face value (principal) redemption
will be in six (6) semi-annual tranches commencing from 13 november, 2021.
The profit rate would be at 9% as on coupon rate.

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11.02 SiBL mudaraba Subordinated Bond is a unsecured, non-convertible, fully-redeemable

floating rate subordinated bond issued with the approval of BSEc and BB to raiseTire-
2 capital of the bank. The tenure of the SiBL bond is six (6) years.

coupon payment would be semi-annually beginning at the end of six (6) months
from the issue date on 20 June, 2017. Face value (principal) redemption will be in
five (5) annual tranches commencing from 20 December, 2018. The profit rate would
be 125% of one year of mudaraba Term Deposit Profit rate of SiBL for 180 days.

11.03 The city Bank 2nd Subordinated Bond is a unsecured, non-convertible, fully
redeemable floating rate subordinated bond issued with the approval of BSEc and
BB to raise Tire-2 capital of the bank. The tenure of the city bank bond is seven (7)
years.

coupon payment could be semi-annually beginning at the end of six (6) months
from the issue date on 21 June, 2017. Face value (principal) redemption will be in
six (6) semi-annual tranches commencing from 21 December, 2021. The profit rate
would be the reference rate plus 2.5% margin. Reference rate will be calculated
based on the latest average six (6) months FDR rate of all scheduled commercial
banks excluding 4th generation commercial banks on the quotation date.

12.00 Investment in CCBL shares 1,350,000,000 1,350,000,000

1,350,000,000 1,350,000,000
DSE subscribed in 135,000,000 shares (45% shares of ccBL @ BDT 10 each) of
central counterparty Bangladesh Limited for an amount of BDT 135 crore. in
pursuant to the consent letter issued by BSEc (Ref: BSEc/ci/cPLc-595/2019/13
dated January 09, 2019) and approval of Board of Directors, DSE in its 921st
meeting held on march 22, 2019, DSE disbursed the fund to ccBL on 31 march,
2019.

13.00 Investment in Fdrs and bonds

investment in FDRs (note no. 13.01) 5,385,000,000 6,375,000,000
investment in Bonds - within one year (note no. 13.02) 80,000,000 80,000,000
5,465,000,000 6,455,000,000
13.01 Investment in Fdrs
opening balance 6,375,000,000 8,050,000,000
Add : Addition during the year 3,370,000,000 3,930,000,000
Less : Encashment during the year (4,360,000,000 ) (5,605,000,000 )
Closing balance 5,385,000,000 6,375,000,000
Total investment in FDRs mainly decreased during the year due to investment in fixed
assets, DSE Tower, nikunja and payment of dividend etc.
Details of investment in FDRs are shown in annexure - F

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13.02 Investment in bonds (within one year)

SiBL mudaraba subordinated bond 80,000,000 80,000,000

SiBL Third face value (principal) redemption will be on December 2020.

14.00 advance, deposit and prepayment

a. advance:
Advance against salary (note: 14.01) 11,552,014 13,114,817
Loan to employees: within one year 5,370,017 6,463,993
Advance to vendors 9,188,850 2,455,683
Advance against expenses 494,429 3,107,022
Advance rent 1,538,882 1,008,000
28,144,192 26,149,515
B. deposit:
Security deposit - DESco and Sadharan Bima corporation 9,619,000 9,642,000

C. prepayment:
Annual service fee to nASDAQ 27,017,771 26,533,026
Annual license fee to nASDAQ 7,371,208 7,237,224
Annual hardware maintenance 16,401,863 7,108,305
Annual Anti-virus license fee 90,321 -
insurance premium (note: 14.02) 2,325,557 2,439,849
53,206,720 43,318,404
Grand total ( a + B + C ) 90,969,912 79,109,919

14.01 advance against salary

All regular employees who have served the Exchange at least for 3 (three) years, are
eligible to get this facility. The advance is given for the purpose of marriage ceremony,
education, house repairing, any assistance needed on natural calamity etc. The
advance amount is equal to 6 (six) months' basic salary with zero interest rate. The
loan amount is being recovered in 30 (thirty) equal monthly installments. The loan
amount is secured through assignment of all terminal benefits. The recovery of the
loan is made from monthly salary on regular basis and the entire loan balance is
fully realizable within recovery period.

14.02 Insurance premium

health insurance (Staff) 1,412,930 1,409,421
Life insurance (Staff) 782,037 798,421
Vehicle insurance (own) 111,698 212,750
Property, plant and equipment insurance 17,625 17,750
Vehicle insurance (car scheme) 1,267 1,507
2,325,557 2,439,849

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15.00 accounts receivable

Listing fee from listed company (note: 15.01) 86,262,771 64,010,603
Receivable against strategic sales - 29,372,150
Receivable from TREc holders 16,102,076 12,605,143
Subscription for data (note: 15.02) 16,290,189 13,328,030
Receivable from ccBL 10,173,945 10,173,945
Receivable for SmE platform 767,125 4,168,042
others receivable 1,887,450 783,544
131,483,556 134,441,457
15.01 Listing fee from listed company
a. ageing of receivable from listed company is shown below:
5 years and more 14,082,013 12,233,662
3 years and more 23,960,217 10,382,389
2 years and more 14,084,735 16,635,051
Less than 2 years 73,230,349 53,097,480
total 125,357,314 92,348,582

B. accumulated provision on listing fee

opening accumulated provision on listing fee 28,337,979 18,006,838
Add: addition during the year 10,756,564 10,331,141
39,094,543 28,337,979

receivable ageing rate of provision Bdt Bdt

5 years and more 100% 14,082,013 12,233,662
3 years and more 75% 17,970,163 7,786,792
2 years and more 50% 7,042,368 8,317,526
Less than 2 years 0% - -
total 39,094,543 28,337,979

C. Closing balance of listing fee (a - B) 86,262,771 64,010,603

15.02 Subscription for market data 17,817,689 14,855,530

Less: accumulated provision for doubtful accounts (1,527,500 ) (1,527,500 )
16,290,189 13,328,030
16.00 accrued interest
interest accrued on FDR 225,416,644 293,402,191
interest accrued on bond 23,717,837 6,330,693
249,134,481 299,732,884
17.00 advance income tax
opening balance 818,317,893 304,114,208
Add : Addition during the year (TDS) 90,707,994 116,116,620
Add : Addition during the year (Direct payment) 172,768,165 398,087,065
Closing balance 1,081,794,052 818,317,893

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18.00 Clearing and settlement account

Bank clearing account (note: 18.01) 781,319,583 1,689,708,914
Receivable against trade (note: 18.02) 356,200,769 879,520,241
total 1,137,520,352 2,569,229,155

18.01 Bank clearing account

city Bank Ltd. - SnD A/c no. 1101063936001 252,974,029 694,003,420
Al-Arafah islami Bank Ltd.- SnD A/c no. 0021220002378 105,057,626 260,788,384
one Bank Ltd. - SnD A/c no. 5024801006 107,334,321 220,634,354
iFic Bank Ltd.- SnD A/c no. 1090344039041 153,563,019 203,952,498
Social islami Bank Ltd- A/c no. 0021360003005 33,388,919 110,420,080
Standard chartered Bank - SnD A/c no. 02754923701 70,287,145 97,682,282
Rupali Bank Limited - SnD A/c no.240000883 31,957,575 55,758,198
Pubali Bank Ltd - SnD A/c no. 2905102000935 26,756,949 46,469,698
total 781,319,583 1,689,708,914

As per Settlement Regulations 2013, Exchange receives fund from TREc holders on
T+ 0 and T+1 for spot and normal market (A,B,g,n,Z group) transactions
respectively. on the other hand, Exchange delivers the fund to its counterparties on
T+1 (for spot trade), T+2 (for normal trade of A, B, g, n group) and T+9 (for
normal trade of Z group). Therefore, due to time difference in fund receipt and
delivery some funds are always staying in Exchange's clearing account.

18.02 receivable against trade 356,200,769 879,520,241

Receivable against trade represent amount receivable from TREc holders on T+0
for spot market and T+1 for normal market (A,B,g,n,Z group) transactions against
share trade on T+0 which are payable to another group of TREc holders as per
settlement cycle (T+2 for normal trade of A, B, g, n group) and T+9 (for normal
trade of Z group).

19.00 ess operation account

iFic Bank Limited A/c. no. 1090344039042 255,599,182 233,189,386
Social islami Bank Limited A/c no. 0021360003343 466,727 445,343
city Bank Limited A/c no. 1121063938001 15,346,897 90,658
mutual Trust Bank Limited A/c no. 0012-0320001838 12,014,274 11,483,849
Eastern Bank Limited A/c no. 1011360493189 36,616,413 376,564,955
AB Bank Limited A/c no. 4020760380430 74,126 70,589
320,117,619 621,844,780
As per Bangladesh Securities Exchange commission (Public issue) Rules, 2015 both
DSE & cSE are now operating integrated automated Electronic Subscription
System(ESS). currently, DSE operates the above designated bank accounts with banks
to conduct the bidding process smoothly under the ESS. only the listed Eligible
investors (Eis) deposit their intended amount for participation in the bidding through
this electronic system. Exchange refund the excess subscribed amount to the Eis within
07 (seven) working days from the date of closing of bidding and transfer the
subscribed amount against securities to be alloted, to the issuer, within 05 (five)
working days from the date of closing of bidding.

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20.00 Cash and cash equivalents

a: petty cash 100,000 100,000

B: Cash at bank: General operation

Bank name snd a/C number
city Bank Limited A/c no. 3101063940001 223,105,687 46,997,866
Rupali Bank Limited A/c. no. 240000894 1,343,006 1,299,508
Eastern Bank Limited A/c no. 1011220257325 287,493 301,801
Standard chartered Bank Ltd. A/c no. 01754923701 86,230 86,575
Rupali Bank Limited A/c. no. 240000271 76,503 74,941
224,898,919 48,760,691
C: Cash at bank: other operation
Bank name snd a/C number purpose
city Bank Limited A/c no. 1101063938001 Strategic sale 505,215,525 617,058,340
Trust Bank Limited A/c no.17-0320001397 SgF 17,960,367 17,171,355
iFic Bank Limited A/c. no. 1090102545041 Trade tax 192,570,142 191,505,526
Dutch-Bangla Bank Limited A/c no. 105120906 nikunja 2,865,757 2,823,178
city Bank Limited A/c no. 3101139367001 oTc 38,588 1,780,995
Trust Bank Limited A/c no. 0017-0320000914 Dividend 40,450 254,467
one bank Limited A/c no.-13000001437 Tax 53 n 238,930 230,927
Trust Bank Limited A/c no. 00170320000496 TREc settlement 295,185 77,419
719,224,944 830,902,207

total (a+B+C) 944,223,863 879,762,898

Bank reconciliation is done regularly. There is no unresolved issue in
bank reconciliation.

21.00 share capital

Authorized:
2500,000,000 ordinary Shares of BDT 10/- each 25,000,000,000 25,000,000,000
25,000,000,000 25,000,000,000
issued, subscribed and paid up:

1,803,776,500 ordinary shares of BDT 10/- each 18,037,765,000 18,037,765,000

Closing balance 18,037,765,000 18,037,765,000

22.00 Liability for gratuity

opening balance 263,136,298 227,556,934
Add: Addition during the year 31,725,007 42,737,330
Less: Paid during the year (265,321,758 ) (7,157,966 )
Closing balance 29,539,547 263,136,298

Details of gratuity are shown in note no. 3.17 (b)

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23.00 settlement Guarantee Fund (sGF)

opening balance 17,209,008 11,766,747
Add: Addition during the year 824,497 5,442,261
Closing balance 18,033,505 17,209,008

Details of SgF is shown in note no. 3.12

24.00 Lease liabilities

We are using space of 6,000 SFT and 2,179 SFT for icT setup at motijheel 9/g
and 9/E building respectively. Exchange (lessee) and najib malek chowdhury
(Lessor) and Popular Jute Exchange Limited (lessor) engaged in contractual
arrangement since 2008 and 1998 respectively. As per latest renewed period
we have right to use the leased asset for 30 months of 9/g building 4th floor &
9/E building 7th floor and for 18 months of 9/g building 5th floor.

iFRS 16.c12(a) when measuring lease liabilities, Exchange discounted lease

payments using its incremental borrowing rate at 1 July 2019. The weighted-
average rate applied is 9%.

Lease information
operating lease commitment 11,754,084 -
Discounted value using the incremental borrowing rate 10,803,079 -

Lease liabilities
Less than one year (current) 2,810,770 -
more than one year (non- current) 1,502,765 -
4,313,534 -
25.00 Liabilities to treC holders' and others
Payable to TREc holder's for nikunja project (note no. 25.01) 187,783,905 183,598,905
Payable for sale of TREc 41,728,077 41,742,620
Security deposit - Trading Work Station 2,874,390 2,924,390
Security deposit - Bo account 4,279,090 4,279,090
Payable for subscription - 365,541
Loan from TREc holder's for purchase of land at nikunja 275,000 275,000
236,940,462 233,185,546

25.01 DSE received total BDT 100,000 for 500 sft. and additional BDT 750,000 for
additional 500 sft. from two hundred thirty (230) numbers of TREc holders for
building under construction period at nikunja.

26.00 Clearing and settlement account

Payable against amount received from TREc-holders (note: 26.01) 738,570,615 1,649,769,276
Payable against clearing obligation (note: 26.02) 349,004,780 872,488,289
Payable against oTc clearing obligation - 1,079,190
1,087,575,395 2,523,336,755

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26.01 payable against amount received from treC-holders

Bank clearing account 781,319,583 1,689,708,914
Less: Tax payable 1,542,470 5,172,061
Less: Transaction fee 619,075 2,549,025
Less: SnD interest 40,587,423 32,218,552
42,748,968 39,939,638
738,570,615 1,649,769,276
As per Settlement Regulations 2013, Exchange receives fund from TREc holders on
T+ 0 and T+1 for spot and normal market (A,B,g,n,Z group) transactions
respectively. on the other hand, Exchange delivers the fund to its counterparties on
T+1 (for spot trade), T+2 (for normal trade of A, B, g, n group) and T+9 (for
normal trade of Z group). Therefore, due to time difference in fund receipt and
delivery some funds are always staying in Exchange's clearing account.

Payable against amount received from customer represent amount payable to TREc
holders on T+1 (for spot), T+2 (for normal market of A,B,g,n group) and T+9 (for
normal trade of Z group) transactions against share trade on T+0 which were
received from another group of TREc holders as per settlement cycle (T+0 for spot
trade and T+1 for normal trade).

26.02 payable against clearing obligation

receivable against trade (note: 14.02) 356,200,769 879,520,241
Less: Tax payable 5,555,983 4,696,538
Less: Transaction fee 1,640,006 2,335,414
7,195,989 7,031,952
349,004,780 872,488,289
Payable against clearing obligation represent amount payable to TREc holders on
T+2 (for normal market of A,B,g,n group) and T+9 (for normal trade of Z group)
transactions against share trade on T+0 which are receivable from another group
of TREc holders as per settlement cycle (T+0 for spot trade and T+1 for normal
trade).

27.00 accounts payable

Sale proceeds of strategic investment 421,932,793 617,062,475
Payable to cSE for ESS 29,173,301 105,805,063
Payable for supplies 67,878,214 32,231,849
investors' protection fund (iPF) 224,384 590,102
honorarium to panel judges 198,000 198,000
Amount payable to EPF 6,281 18,226
519,412,973 755,905,715
28.00 payable for ess
ESS operation account (note: 19) 320,117,619 621,844,780
Less : Registration and bidding fee - 14,960,000
Less : SnD interest - 78,102,628
Less: Payable to cSE 29,173,301 -
Less: DSE portion 62,595,315 -
payable to issuer (note: 28.01) 228,349,003 528,782,152

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28.01 payable to issuer

ADn Telecom - 353,782,152
coppertech Ltd - 100,000,000
Sea Pearl Beach & Spa Ltd - 75,000,000
Express insurance company Limited 228,349,003 -
228,349,003 528,782,152

29.00 Liabilities for security deposit 66,127,995 105,559,447

30.00 dividend payable

opening balance 195,709,747 165,947,438
Add: addition during the year 901,888,250 901,888,250
Less: paid during the year (863,322,097) (872,125,941)
Closing balance 234,275,900 195,709,747

31.00 Withholding tax and Vat

Sponsor shareholders/directors 4,253 16,805,646
TREc holders - clearing and Settlement Systems (cnS) 7,098,453 4,697,618
VAT from suppliers 2,922,516 549,474
10,025,222 22,052,738
32.00 payable to Workers profit participation Fund (WppF)
opening balance 65,073,559 64,378,330
Add: Addition during the year 26,591,462 65,073,559
Less: Paid during the year (65,073,559 ) (64,378,330 )
Closing balance 26,591,462 65,073,559

in line with the decision of the Board of directors in its 967th meeting held on August
31, 2020, WPPF would remain withheld for disbursement until getting clearance from
concerned ministries and BSEc on the applicability of the same for DSE.

33.00 provision for income tax

opening balance 890,975,819 501,153,855
Add: Addition during the year 56,839,624 389,821,964
947,815,443 890,975,819
34.00 transaction fees
income from automated trading (note - 34.01) 375,204,433 720,268,866
outside trade charge (note - 34.02) 1,734,788 2,665,968
income from oTc trading 12,174 327,921
376,951,395 723,262,755

Average trade/day (in million) 3,844 6,133

Trading days 203 238

34.01 Income from automated trading

For any single block trade, floor crossing and DVP (Delivery versus Payment)
transactions having traded value of BDT 50,00,000/-( fifty lac) only or more,
transaction fee is @ 0.0125% of traded value. Transaction Fee for Bond is BDT 50.00
(BDT fifty) per trade. For any other trade, transaction fee is @ 0.025% of traded
value. Transaction fee is recoverable from both buyer and seller.

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34.02 outside trade charge

outside trade charge is earned @ 0.05% on the closing price of the securities to be
transferred or BDT 50/- (fifty) only whichever is higher shall be payable to the
exchange for each transfer as per section 47 of Dhaka Stock Exchange (Listing)
Regulations 2015.

35.00 Fees and charges from listed companies

Listing fee (note - 35.01) 205,077,058 238,746,512
iPo data transmission (note - 35.02) 600,000 2,800,000
Prospectus scrutiny fee (note - 35.03) 725,000 1,000,000
Surcharges (note - 35.04) 262,681 631,345
Fine for delay submission of annual report (note - 35.05) 934,870 608,000
company name change fee (note - 35.06) 50,000 150,000
207,649,609 243,935,857
35.01 Listing fee
Annual fee 147,958,573 146,191,044
initial fee 57,118,485 92,555,468
205,077,058 238,746,512
Initial listing fees
Exchange collects initial listing fee from the listed company in line with listing
regulations, 2015 at the following rates:

(i) Up to BDT 10 crore of paid-up capital or fund @ 0.25%

(ii) Above BDT 10 crore of paid-up capital or fund @ 0.15%

however, the total initial listing fee shall be minimum of BDT 50,000.00 (BDT fifty
thousand) and maximum of BDT 10,000,000.00 (BDT ten million) for each Securities.

Whenever an issuer increases the number of securities listed with the Exchange, pay
the Exchange a fee at the same rate as mentioned above for the additional securities
to be listed.

annual listing fees:

Every issuer of listed securities pay annual listing fee to the Exchange within 31 march
of every calendar year in line with listing regulations, 2015 at the following rates:

(i) Up to BDT 100 crore of paid-up capital or fund @ 0.05%

(ii) Above BDT 100 crore of paid-up capital or fund @ 0.02%

however, the total annual listing fee shall be minimum BDT 50,000 (fifty thousand)
and maximum BDT 6,00,000.00 (six lac) for each securities.

35.02 Ipo data transmission

The Exchange claim data transmission fee BDT 200,000/- (Two Lac) only as per iPo
consent letter no. BSEc/ci/iPo-57/2014/227 on may 28, 2015.

35.03 prospectus scrutiny fee

As per section 42 of Dhaka Stock Exchange (Listing) Regulations 2015, an issuer
while submitting a draft prospectus to the exchange, in addition to other fees, pay a
sum of BDT 50,000/- (Fifty thousand) only as draft prospectus scrutiny fee, which is
non-refundable in any case.

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BDT BDT

35.04 surcharges
Surcharges are collected (@ 1.5% per month on overdue amount) when a company
fails to pay listing fees on time as per section 42 of Dhaka Stock Exchange (Listing)
Regulations, 2015.

35.05 Fine for delay submission of annual report

in the event of delay in submission of quarterly financial statements, the issuer of
listed securities pay penalty of BDT 5000 (Five thousand) per day to the Exchange
as per section 17 (4) of Dhaka Stock Exchange (Listing) Regulations, 2015.

35.06 Company name change fee

if an issuer of listed securities intends to change its name, it pay to the exchange a
fee of BDT 50,000 (Fifty Thousand) only prior to such name change.

36.00 sale of data and others

Subscription from data sale 31,148,029 40,625,118
Web advertisement 5,806,365 11,986,698
Electronic Subscription Systems (ESS) (note - 36.01) 46,831,020 146,807,372
Sale of DSE publication 3,161,820 3,862,955
Sale of information, cD etc. 76,700 118,200
87,023,934 203,400,343
36.01 electronic subscription systems (ess)
ESS is a software/web portal to determine share cut-off price jointly developed by
DSE under the guidance of BSEc to comply with the BSEc (Public issue) Rules, 2015.

in light with the amended BSEc (Public issue) Rules, 2015 w.e.f. July 16, 2019, all
companies are required to process their iPo irrespective of whether the share price
is at par (fixed price method) or above par value (book building method) to distribute
shares to Eligible investors.

37.00 Interest and dividend

interest income (note - 37.01) 811,495,288 930,702,882
Dividend income (note - 37.02) 34,031,388 34,031,389
845,526,676 964,734,271
37.01 Interest income
FDR 587,876,667 707,358,761
SnD account 125,351,394 129,404,769
Bond 96,614,871 92,034,706
home loan 1,652,356 1,904,646
811,495,288 930,702,882
37.02 dividend income
Total number of shares in cDBL 13,612,555 13,612,555
Face value per share (BDT) 10 10
Total investment in cDBL shares (BDT) at face value 136,125,550 136,125,550
Rate of cash dividend 25% 25%
34,031,388 34,031,389

200 DSE ANNUAL REPORT n­2019-20

 30 June 2020 30 June 2019
BDT BDT

38.00 Licensing fee

Trade certificates issuance and renewal fee (note - 38.01) 23,405,700 25,450,000
TREc issuance and renewal (note - 38.02) 12,575,000 12,100,000
TREc holders entrance fee (note - 38.03) 85,000 3,000,000
Trading workstation fee 799,000 2,291,000
Relocation of offices of TREc, change of directors, representative etc. 1,021,000 761,200
TREc name change fee (note - 38.04) 200,000 300,000
Authorized trader fee 99,200 152,320
38,184,900 44,054,520
38.01 trader certificates issuance and renewal fee
Every TREc holder is liable to pay BDT 10,000/- (ten thousand) only as fee for
obtaining Trader certificate (Tc) and BDT 5,000/- (five thousand) only for renewal
thereof.

38.02 treC issuance and renewal fee

Every TREc holder is liable to pay BDT 100,000/- (one lac) only as fee for obtaining
Trading Right Entitlement certificate (TREc) and BDT 50,000/- (fifty thousand) only
for renewal thereof.

38.03 treC holders' entrance fee

TREc holder is liable to pay BDT 1,000,000 (one million) only for new entry.

38.04 treC name change fee

An amount of BDT 100,000/- (one lac) only will be charged as fee for the name
change of TREc holders of the Exchange which was approved in the 624th Board of
Directors meeting held on April 08, 2009.

39.00 Income from nikunja Building

Total number of Tenant 21 -
Total space (sft) for TREc 32,766 -
Rent rate (per sft/BDT) 30 -
Service charge (per sft/BDT) 30 -

total 3,772,980 -
Rent income waived during the coViD 19 period

40.00 Miscellaneous Income

Rental income from TREc holders (9/F) 9,616,661 6,029,024
income from training academy 763,003 2,547,901
income from generator 1,348,694 1,004,191
other non - operating income (note - 40.01) 477,592 475,558
DP income (note - 40.02) 59,745 76,199
12,265,695 10,132,873
40.01 other non- operating income
Sale of scrap and old paper 23,166 241,273
Sale of tender schedule 53,000 119,000
Retirement obligation (note - 40.01A) 54,183 112,858
Foreign exchange gain/(loss) (123,127) 2,427
gain / (loss) on disposal of assets 470,370 -
477,592 475,558

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BDT BDT

40.01A As per DSE Employee Service Rules, 2017 Sec 10.1.1 chapter-x, A regular/
permanent employee desiring to resign shall submit a resignation in writing giving
at least thirty (30) days' prior notice to the competent Authority of his intention to do
so; in case of failure to give such notice, he shall be liable to pay the Exchange, as
compensation, an amount equal to his pay for the thirty days' basic pay.

40.02 depository participant (dp) income

Annual Bo maintenance fee 56,804 57,950
cDS charge 2,941 18,249
59,745 76,199
Exchange collects annual maintenance fee @ BDT 450/- for each Bo account and
pays cDBL @ BDT 350/- and balance BDT100/- remains with the Exchange.

Exchange collects cDBL charge @ 0.0187% of the transaction value of the securities
and pays cDBL @ 0.0125% and the rest remains with the Exchange.

Exchange collects demate charge @ 0.0225% on the value of dematerialized

securities and pays cDBL @ 0.015% and the rest remains with the Exchange.

41.00 personnel expenses

Salary and allowances (note - 41.01) 365,559,223 371,795,054
Recruitment, training and hR development (note - 41.02) 7,857,979 12,628,806
Staff welfare (note - 41.03) 5,697,260 7,309,176
group life and health insurance premium (note - 41.04) 2,934,176 2,972,143
382,048,638 394,705,179
41.01 salary and allowances
Salary 308,386,463 304,842,802
gratuity 31,725,007 42,737,330
Festival bonus 25,447,753 24,214,922
365,559,223 371,795,054
41.02 recruitment, training and Hr development
Training, workshop and seminar etc. - overseas 4,157,960 8,343,569
Recruitment expenses 1,680,692 2,195,178
Training, workshop and seminar etc. - local 2,019,327 2,090,059
7,857,979 12,628,806
41.03 staff welfare
Refreshment 2,158,646 2,127,174
iftar and milad 73,719 1,521,070
Various event and annual picnic 1,500,002 1,516,562
meal for staff 900,000 1,100,000
Uniform 540,448 592,792
Drinking water 524,445 451,578
5,697,260 7,309,176
41.04 Group life and health insurance premium
Staff health 1,876,972 1,899,139
Staff life 1,057,204 1,073,004
2,934,176 2,972,143

202 DSE ANNUAL REPORT n­2019-20

 30 June 2020 30 June 2019
BDT BDT

Beneficiary of Insurance Coverage:

1. All permanent and regular employees of DSE are insured under group life
policy.
2. All permanent and regular employees of DSE along with their spouse are insured
under group health policy.

42.00 Wages for security services

Elite force 859,924 1,193,892
other security forces 192,225 211,800
1,052,149 1,405,692
43.00 rent, rates and taxes
Rent - Popular Jute Exchange 2,550,131 5,456,206
Rent - Swantex Building 2,523,000 5,046,000
Rent - 9/g motijheel c/A - 4,212,000
VAT on rent, land tax and others 1,159,266 3,328,565
Rent - modhumita Building 147,516 295,032
6,379,913 18,337,803
Rent and occupancy expenses showed a decrease by 65% as the major portion of
office setup shifted at DSE Tower, nikunja and implementation of new iFRS 16 which
captured the lease rental expenses as amortization on account of the applicable lease
contracts under Right-of-Use (RoU) asset and interest expenses of lease payment.

44.00 Vehicle, fuel and maintenance expenses etc.

conveyance and transportation 12,793,219 10,901,242
car fuel and maintenance 4,230,270 4,722,372
car scheme expenses 3,208,888 3,598,628
20,232,377 19,222,242
45.00 telephone, telex, fax, internet and postage
Telephone and mobile 544,007 1,360,272
Postage 263,624 247,764
TV - dish connection 19,200 57,600
826,831 1,665,636
46.00 ICt expenses
Software license and maintenance (note - 46.01) 197,439,417 185,047,910
hardware maintenance, bandwidth and other charges (note - 46.02) 18,509,135 18,523,918
215,948,552 203,571,828
46.01 software license and maintenance
FLExTRADE Systems PTE Ltd.- annual minimum fee 61,029,701 72,128,676
nASDAQ omx, USA - annual service fee 60,015,171 57,720,919
nASDAQ omx, USA - annual license fee 16,372,108 16,233,660
Vmware service and support contract 8,237,480 7,784,364
DSE mobile apps fee 17,596,968 14,491,008
Accounting software maintenance 149,580 23,117
miscellaneous license and support services fee 26,621,885 7,026,467
microsoft support service 3,998,678 6,007,755
Trapets AB, Sweden - Amc for surveillance software 3,056,562 3,164,730
mcAfee Antivirus management fee 361,284 467,214
197,439,417 185,047,910

DSE ANNUAL REPORT n­2019-20

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BDT BDT

46.02 Hardware maintenance, bandwidth and other charges

hardware maintenance (hPE proactive services) 9,811,093 13,546,320
Bandwidth charges 4,356,914 3,747,808
on-line UPS and cluster server - Amc 332,195 588,850
10g network - Amc 438,967 438,970
issuers register maintenance and depository connection fee 106,000 106,000
DSE index 3,463,966 95,970
18,509,135 18,523,918
47.00 utilities
Electricity 6,712,593 10,242,532
Water and Sewerage 1,026,538 1,182,225
generator fuel 266,718 299,000
8,005,849 11,723,757
48.00 repair and maintenance
Pest control, car parking, civil and renovation work etc. 2,113,976 1,832,794
generator repairing and servicing 300,425 784,450
cleaning material 1,351,451 775,430
Ac repairing and servicing 479,133 625,144
Electrical goods 433,620 583,719
computer, printer and photocopier servicing and repairing 290,060 370,250
UPS repairing and servicing - 273,765
Telephone repairing and servicing 210,722 77,640
Lift maintenance 123,590 67,500
5,302,977 5,390,692
49.00 printing and stationery
computer stationery 2,217,955 1,590,953
DSE Publication 1,877,600 1,908,768
Stationery 1,225,203 1,423,903
Printing 652,026 1,574,767
Diary 645,000 828,276
newspaper and periodicals 142,647 143,686
6,760,431 7,470,353
50.00 advertisement, subscription and promotional expenses
Promotional expenses 3,823,486 8,960,330
Subscription to WFEs and Dcci 2,222,168 2,223,088
Advertisement 1,113,771 1,620,221
Donation 10,166,389 1,230,000
gift 289,974 943,705
17,615,788 14,977,344
51.00 General insurance
Plant, machinery and equipment's 716,875 702,097
Vehicles 293,341 152,619
1,010,216 854,716
1. All automation equipment's are insured against damage due to fire, riot, strike,
flood, cyclone, earth quake, accident related to electrical problem and burglary.

2.All vehicles are insured against damage due to fire, accident, pilferage, earth
quake, flood and cyclone.

204 DSE ANNUAL REPORT n­2019-20

 30 June 2020 30 June 2019
BDT BDT

52.00 Legal, audit and professional fee

Advisory fee (Tax consultant, retainer and others) 8,168,011 5,253,514
Legal fee 1,959,980 556,631
Audit fee 670,250 428,502
honorarium to panel judges 264,000 264,000
11,062,241 6,502,647
53.00 seminar, conference and meeting expenses
Directors' honorarium 7,082,191 5,346,919
Foreign training other than employees 1,854,347 4,670,032
Training academy expenses 1,163,570 2,716,159
meeting expenses 2,154,806 2,504,226
Seminar and press conference expenses 1,259,599 2,587,456
Annual general meeting 1,592,021 1,553,810
Entertainment 1,092,528 1,076,066
16,199,062 20,454,668

54.00 Contribution to investors' protection fund 371,642 1,411,691

DSE contributes on quarterly basis to the fund and the amount representing 0.50%
of the listing fee received by the DSE during the immediate preceding quarter, shall
be placed in the fund immediately after closure of each quarter.

55.00 expenses for nikunja building

maintenance cost 32,543,729 -
Depreciation expenses 173,201,447 -
205,745,176 -
56.00 depreciation and amortization
depreciation:
Property, plant and equipment 11,249,783 10,287,899
Automation equipment 44,531,780 48,150,306
total depreciation 55,781,563 58,438,205

amortization:
intangible assets 39,810,919 42,825,349
Right of use (RoU) assets 4,321,232 -
total amortization 44,132,151 42,825,349

Grand total 99,913,714 101,263,554

57.00 provision for doubtful debts

Listing fee receivable 10,756,564 10,331,141
10,756,564 10,331,141
58.00 Interest expenses, excise duty and bank charges
Excise duty - FDR 2,715,572 3,383,666
Excise duty and bank charge - transaction 335,193 303,262
interest expenses for lease payment 671,608 -
3,722,373 3,686,928

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BDT BDT

59.00 Workers profit participation fund (WppF) expenses

Total Revenue 1,571,375,189 2,189,520,619
Total Expenses excluding WPPF 1,012,954,493 822,975,871
Profit before charging WPPF 558,420,696 1,366,544,748
WPPF - 5% of the net profit after charging WPPF 26,591,462 65,073,559

60.00 number of employees

(i) The number of employees who received a total remuneration of BDT 36,000/- and above for the whole year was
358 (Three hundred fifty eight) as against same for the previous year.

(ii) The number of employees who received a total remuneration of BDT 36,000/- and above for part of the year was
11 (Eleven) as against 9 (nine) for the previous year.

61.00 authorization for issue

The Board of Directors reviewed the financial statements and authorized these for issue on 30 november 2020.

62.00 Last year's figures have been restated and rearranged where necessary, to conform to current and last year's presentation.

63.00 All figures in financial statements and notes to the financial statements stated in Bangladesh BDT (BDT).

64.00 events after the reporting period

The Board of Directors of the Exchange recommended 3% (BDT 0.30 per share) cash dividend amounting to BDT
541,132,950 for the financial year 2019 - 2020 at the 979th board meeting held on 30 november 2020. The dividend
is subject to final approval by the shareholders at the forthcoming annual general meeting of the company. The financial
statements for the year ended 30 June 2020 do not include the effect of the cash dividend which will be accounted for
in the period when shareholders' right to receive payment is established.
There are no other events identified after the date of the statement of financial position which require adjustment or
disclosure in the accompanying financial statements.

Md. Eunusur Rahman Salma Nasreen ndc Mohammad Shahjahan

chairman Director Director

Kazi Sanaul Hoq Mohammad Asadur Rahman, FCS

managing Director company Secretary

Dated, Dhaka A. Qasem & Co.

30 november 2020 chartered Accountants

206 DSE ANNUAL REPORT n­2019-20

 Annexure - A

Dhaka Stock Exchange Limited

Schedule of Property, Plant and Equipment-Cost
As at 30 June 2020
(Amount in BDT)
COST DEPRECIATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
Land 90,569,547 - - 90,569,547 - - - - - 90,569,547
Building 102,858,860 - - 102,858,860 3 80,676,238 737,134 81,413,372 21,445,488
Lift 1,381,740 - - 1,381,740 15 1,381,740 - 1,381,740 -
Furniture & Fixture 7,674,315 18,981 1,812,934 5,880,362 15 6,878,744 254,458 1,744,182 5,389,020 491,342
office equipment 7,642,799 85,860 1,022,679 6,705,980 15 6,153,907 438,793 1,020,678 5,572,022 1,133,957
Electrical equipment 31,092,562 23,194,357 5,572,930 48,713,988 15 26,923,821 2,548,851 5,438,900 24,033,771 24,680,217
Vehicles 47,326,502 - 47,326,502 20 37,049,200 2,550,725 39,599,925 7,726,577

DSE ANNUAL REPORT

generator 11,515,958 - 11,515,958 15 11,507,920 2,835 11,510,755 5,204

n­
Personal computers 33,509,620 3,658,157 94,500 37,073,277 33 29,278,096 2,392,365 94,499 31,575,962 5,497,315
Security Equipment 3,959,866 104,550 5,776 4,058,641 15 2,398,588 324,956 5,774 2,717,771 1,340,870
Sundry asset 2,552,225 - 2,552,225 33 2,552,224 - 2,552,224 1

2019-20
total at 30 June 2020 340,083,993 27,061,905 8,508,819 358,637,080 - 204,800,478 9,250,117 8,304,033 205,746,562 152,890,518
total at 30 June 2019 324,790,736 15,293,257 - 340,083,993 - 198,089,280 6,711,199 - 204,800,478 135,283,515

207
 208
Annexure - A-1

Dhaka Stock Exchange Limited

Schedule of Property, Plant and Equipment - Addition due to revaluation
As at 30 June 2020
(Amount in BDT)
REVALUED COST DEPRECIATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
Land 4,021,584,400 - - 4,021,584,400 - - - - - 4,021,584,400
Building 43,654,231 - - 43,654,231 3 14,141,474 874,452 - 15,015,926 28,638,305
Furniture & Fixture 6,919,698 - 1,127,214 5,792,484 15 6,487,221 432,331 1,127,177 5,792,375 109
office equipment 301,428 - 64,983 236,445 15 282,591 18,771 64,974 236,388 57
Electrical equipment 6,029,444 - 1,526,055 4,503,390 15 5,652,618 376,417 1,525,990 4,503,045 344
Vehicles 8,593,024 - - 8,593,024 20 8,593,011 - - 8,593,011 13
generator 4,627,548 - - 4,627,548 15 4,338,323 289,219 - 4,627,542 6

DSE ANNUAL REPORT

Personal computers 2,498,948 - - 2,498,948 33 2,498,497 - - 2,498,497 452

n­
Security Equipment 136,832 - 440 136,392 15 128,284 8,476 438 136,322 70
Sundry assets 36,573 - - 36,573 33 36,572 - - 36,572 1
total at 30 June 2020 4,094,382,127 - 2,718,691 4,091,663,435 - 42,158,591 1,999,666 2,718,578 41,439,679 4,050,223,757

2019-20
total at 30 June 2019 4,094,382,127 - - 4,094,382,127 - 38,581,889 3,576,700 - 42,158,590 4,052,223,537
Balance at 30 June 2020 as per cost 340,083,993 27,061,905 8,508,819 358,637,080 - 204,800,478 9,250,117 8,304,033 205,746,562 152,890,518
Balance at 30 June 2020 as per revaluation 4,094,382,127 - 2,718,691 4,091,663,435 - 42,158,591 1,999,666 2,718,578 41,439,679 4,050,223,757
Grand total at 30 June 2020 4,434,466,120 27,061,905 11,227,510 4,450,300,515 - 246,959,069 11,249,783 11,022,611 247,186,241 4,203,114,274
Balance at 30 June 2019 as per cost 324,790,736 15,293,257 - 340,083,993 - 198,089,280 6,711,199 - 204,800,478 135,283,515
Balance at 30 June 2019 as per revaluation 4,094,382,127 - - 4,094,382,127 - 38,581,889 3,576,700 - 42,158,590 4,052,223,537
Grand total at 30 June 2019 4,419,172,863 15,293,257 - 4,434,466,120 - 236,671,169 10,287,899 - 246,959,068 4,187,507,052
 Annexure - B

Dhaka Stock Exchange Limited

Schedule of Automation Equipment-Cost
As at 30 June 2020
(Amount in BDT)
COST DEPRECIATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
Auto System Development-Auto 165,587,344 - - 165,587,344 33 165,587,340 - 165,587,340 4
PABx & Telephone-Auto 10,000,386 265,000 - 10,265,386 15 9,394,071 356,832 - 9,750,904 514,482
network Development-Auto 40,998,485 3,950,000 42,500 44,905,985 33 39,140,918 2,208,921 42,500 41,307,339 3,598,646
Access control-Auto 1,274,799 321,210 - 1,596,009 15 852,575 85,377 - 937,952 658,057
Server Rack-Auto 1,826,909 - 1,826,909 15 1,701,947 45,254 - 1,747,200 79,709
hP nonstop server(4 cPU)-2008 19,068,041 - - 19,068,041 15 19,068,039 - 19,068,039 2
cluster Server 3,193,000 - - 3,193,000 15 2,994,745 118,950 - 3,113,695 79,305
hP 300gB 6g SAS hard disk 440,000 - - 440,000 33 439,999 - 439,999 1

DSE ANNUAL REPORT

Web Server 15,433,469 - 15,433,469 15 6,038,447 2,092,769 - 8,131,215 7,302,254

n­
Surveillance Server 2,215,000 3,057,900 - 5,272,900 15 1,588,034 447,392 - 2,035,425 3,237,475
m4 Server 500,000 - - 500,000 15 450,000 49,999 - 499,999 1
Vm ware V center Server 599,932 636,900 - 1,236,832 33 599,930 106,140 - 706,070 530,762

2019-20
hardware Equipment for new ATS 293,873,302 - - 293,873,302 15 202,557,274 35,290,085 - 237,847,359 56,025,943
Sundry automation equipment 13,093,206 592,480 - 13,685,686 15 - 33 12,831,380 14,594 - 12,845,973 839,713
Application hardware 9,506,600 - - 9,506,600 33 4,396,968 3,190,881 - 7,587,849 1,918,751
generator and Transformer (500kVA) 13,224,758 - - 13,224,758 15 13,224,757 - - 13,224,757 1
Up gradation 4 & 2 cPU-2010,2007 62,370,748 - - 62,370,748 33 62,370,747 - - 62,370,747 1
total at 30 June 2020 653,205,979 8,823,490 42,500 661,986,969 - 543,237,170 44,007,192 42,500 587,201,862 74,785,107
total at 30 June 2019 649,538,156 3,667,823 - 653,205,979 - 496,346,192 46,890,978 - 543,237,170 109,968,809

209
 210
Annexure - B-1
Dhaka Stock Exchange Limited
Schedule of Automation Equipment-Addition due to revaluation
As at 30 June 2020 (Amount in BDT)

REVALUED COST DEPRECIATION

name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year

Auto System Development-Auto 22,644,625 - - 22,644,625 33 22,644,357 - - 22,644,357 269

PABx & Telephone-Auto 32,060 - - 32,060 15 30,051 1,944 - 31,996 64
network Development-Auto 19,252 - - 19,252 33 19,173 - - 19,173 79
Access control-Auto 44,933 - - 44,933 15 42,125 2,807 - 44,932 1
Server Rack-Auto 1,305 - - 1,305 15 1,227 32 - 1,259 46
hP nonstop server(4 cPU)-2008 6,617,534 - - 6,617,534 15 6,203,941 413,588 - 6,617,529 5
cluster Server 5,930 - - 5,930 15 5,560 363 - 5,923 7
hP 300gB 6g SAS hard disk 274,674 - - 274,674 33 274,666 - - 274,666 8

DSE ANNUAL REPORT

Web Server 114,213 - - 114,213 15 107,075 7,135 - 114,210 3
Sundry automation equipment 747,734 - - 747,734 15 - 33 715,727 31,998 - 747,725 9

n­
generator and Transformer (500kVA) 1,067,521 - - 1,067,521 15 1,000,801 66,719 - 1,067,520 1
Up gradation 4 cPU-2010 7,799,331 - - 7,799,331 33 7,799,326 - - 7,799,326 5

2019-20
total at 30 June 2020 39,369,112 - - 39,369,112 38,844,028 524,587 - 39,368,615 497
total at 30 June 2019 39,369,112 - - 39,369,112 37,584,700 1,259,328 - 38,844,028 525,084
Balance at 30 June 2020 as per cost 653,205,979 8,823,490 42,500 661,986,969 - 543,237,170 44,007,192 42,500 587,201,862 74,785,107
Balance at 30 June 2020 as per revaluation 39,369,112 - - 39,369,112 - 38,844,028 524,587 - 39,368,615 497
Grand total at 30 June 2020 692,575,091 8,823,490 42,500 701,356,081 - 582,081,198 44,531,780 42,500 626,570,477 74,785,604
Balance at 30 June 2019 as per cost 649,538,156 3,667,823 - 653,205,979 - 496,346,192 46,890,978 543,237,170 109,968,809
Balance at 30 June 2019 as per revaluation 39,369,112 - - 39,369,112 - 37,584,700 1,259,328 - 38,844,028 525,084
Grand total at 30 June 2019 688,907,268 3,667,823 - 692,575,091 - 533,930,892 48,150,306 - 582,081,198 110,493,893
 Annexure - C

Dhaka Stock Exchange Limited

Schedule of Intangible Assets
As at 30 June 2020
(Amount in BDT)
COST AMORIZATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
clearing Software 4,480,366 - - 4,480,366 33 4,480,365 - - 4,480,365 1
Accounting Software 2,172,419 - - 2,172,419 33 1,540,744 388,342 - 1,929,086 243,333
Security Software 20,795,084 - - 20,795,084 33 6,545,767 6,053,961 - 12,599,728 8,195,356
mobile Apps 16,049,448 - - 16,049,448 33 16,049,446 - 16,049,446 2
Bangla version website 1,508,034 - - 1,508,034 33 997,112 278,639 - 1,275,750 232,284
Surveillance Software 22,436,243 - - 22,436,243 33 22,436,241 - 22,436,241 2

DSE ANNUAL REPORT

Surveillance x-extreme connector 2,731,340 - - 2,731,340 10 2,731,339 - 2,731,339 1
new Automated Trading Software 159,988,051 - - 159,988,051 10 69,280,655 15,998,805 - 85,279,461 74,708,590

n­
Design Study for nATS 17,654,873 - - 17,654,873 10 7,650,445 1,765,487 - 9,415,932 8,238,941
License of Vm Ware Vsphere 5.5 30,108,068 - - 30,108,068 33 20,411,658 4,867,394 - 25,279,051 4,829,017

2019-20
Sundry intangible Asset 11,624,111 675,000 - 12,299,111 33 4,126,728 - 4,126,728 8,172,383
Application Software 14,165,082 - - 14,165,082 33 6,014,089 4,656,062 - 10,670,150 3,494,932
Bulletin Board & ScP 10,398,976 930,525 - 11,329,501 15 2,274,783 1,571,478 - 3,846,261 7,483,240
License for SQL server & other 17,396,034 - - 17,396,034 33 10,496,403 4,230,751 - 14,727,154 2,668,880
total at 30 June 2020 331,508,129 1,605,525 - 333,113,654 175,035,774 39,810,919 - 214,846,693 118,266,962
total at 30 June 2019 302,259,165 29,248,964 - 331,508,129 132,210,425 42,825,349 - 175,035,774 156,472,356

total Cost 1,324,798,102 37,490,920 8,551,319 1,353,737,703 923,073,422 93,068,228 8,346,533 1,007,795,117 345,942,587
total revaluation 4,133,751,239 - 2,718,691 4,131,032,547 - 81,002,619 2,524,253 2,718,578 80,808,294 4,050,224,253
total Cost & revaluation at 30 June 2020 5,458,549,340 37,490,920 11,270,010 5,484,770,250 - 1,004,076,041 95,592,481 11,065,111 1,088,603,411 4,396,166,840

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Annexure - D

Dhaka Stock Exchange Limited

Schedule of DSE Tower, Nikunja
As at 30 June 2020
(Amount in BDT)
COST DEPRECIATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
Building * - 4,046,048,421 - 4,046,048,421 1.67 67,434,140 67,434,140 3,978,614,281
Lift - 201,092,413 - 201,092,413 6.67 13,406,161 13,406,161 187,686,252
Furniture & Fixture - 353,822,349 - 353,822,349 10.00 35,382,235 35,382,235 318,440,114
Electrical equipment - 20,030,504 - 20,030,504 15.00 3,004,576 3,004,576 17,025,928
central Ac - 400,347,580 - 400,347,580 5.00 20,017,379 20,017,379 380,330,201
generator - 282,504,119 - 282,504,119 10.00 26,344,413 26,344,413 256,159,707
Personal computers - 36,550 - 36,550 33.33 12,183 12,183 24,367
network Development-Auto - 11,385,794 11,385,794 33.33 3,795,265 3,795,265 7,590,529
PABx & Telephone-Auto - 25,367,305 - 25,367,305 15.00 3,805,096 3,805,096 21,562,209
total at 30 June 2020 - 5,340,635,035 - 5,340,635,035 - - 173,201,447 - 173,201,447 5,167,433,588
total at 30 June 2019 - - - - - - - - - -

DSE ANNUAL REPORT

*note that the revaluation surplus of nikunja Building BDT 2,328,037,475 is included in the total cost of the building.

n­
Annexure - E
Dhaka Stock Exchange Limited

2019-20
Schedule Right-of-Use Assets
As at 30 June 2020
(Amount in BDT)
COST AMORIZATION
name of assets opening Additions Adjustment closing Rate of opening charged Adjustment closing Written Down
Balance during during Balance Depreciation Balance during During Balance Value
the year the year (%) the year the year
motijheel 9/g building 8,451,784 - - 8,451,784 - 3,380,714 3,380,714 5,071,071
motijheel 9/E building 2,351,294 - - 2,351,294 - - 940,518 940,518 1,410,777
total at 30 June 2020 10,803,079 - - 10,803,079 - - 4,321,232 - 4,321,232 6,481,847
total at 30 June 2019 - - - - - - - - - -
 Annexure - F

Dhaka Stock Exchange Limited

Details of Investment in FDR
(interest rate between 7.00% - 12.00%)
As at 30 June 2020

Sl. Name of the Bank & NBFI 30 June 2020 30 June 2019
No. BDT % of total BDT % of total
investment investment

1 Southeast Bank Limited 470,000,000 8.73% 420,000,000 6.59%

2 Jamuna Bank Ltd 450,000,000 8.36% 200,000,000 3.14%
3 BRAc Bank Ltd 410,000,000 7.61% 280,000,000 4.39%
4 national credit & commerce Bank Ltd 410,000,000 7.61% 300,000,000 4.71%
5 Al-Arafah Bank Limited 405,000,000 7.52% 505,000,000 7.92%
6 Pubali Bank Ltd 400,000,000 7.43% - 0.00%
7 mutual Trust Bank Limited 300,000,000 5.57% 300,000,000 4.71%
8 one Bank Ltd 300,000,000 5.57% 300,000,000 4.71%
9 Lanka Bangla Finance Ltd 270,000,000 5.01% 350,000,000 5.49%
10 iFic Bank Limited 250,000,000 4.64% 350,000,000 5.49%
11 The Premier Bank Limited 250,000,000 4.64% 220,000,000 3.45%
12 Bank Asia Ltd 200,000,000 3.71% 180,000,000 2.82%
13 Dhaka Bank Ltd 200,000,000 3.71% 180,000,000 2.82%
14 Prime Bank Ltd 200,000,000 3.71% 200,000,000 3.14%
15 Trust Bank Ltd 200,000,000 3.71% - 0.00%
16 First Security islami Bank Ltd. 160,000,000 2.97% 160,000,000 2.51%
17 mercantile Bank Ltd 160,000,000 2.97% 280,000,000 4.39%
18 Eastern Bank Ltd 150,000,000 2.79% 100,000,000 1.57%
19 Exim Bank Limited 100,000,000 1.86% 390,000,000 6.12%
20 Shahjalal islami Bank Ltd 50,000,000 0.93% 350,000,000 5.49%
21 Standard Bank Limited 50,000,000 0.93% 260,000,000 4.08%
22 AB Bank Limited. - - 190,000,000 2.98%
23 national Bank Limited - - 10,000,000 0.16%
24 The city bank Ltd - - 200,000,000 3.14%
25 United commercial Bank Ltd - - 300,000,000 4.71%
26 iDLc Finance Ltd - - 350,000,000 5.49%
total 5,385,000,000 100% 6,375,000,000 100%

DSE ANNUAL REPORT n­2019-20

213
 ACRONYMS
ADB Asian Development Bank iPF investors’ Protection Fund
Agm Annual general meeting iPo initial Public offerings
AoSEF Asian and oceanian Stock Exchanges Federation iRT incident Response Team
APi Application Programming interface iSTcL icB Securities Trading company Limited
ATB Alternative Trading Board kRx korea Exchange
ATS Automated Trading Systems LAn Local Area network
BAS Bangladesh Accounting Standard mDS market Data Server
BBS Book Building System mE matching Engine
BDT Bangladesh Taka moF ministry of Finance
BFRS Bangladesh Financial Reporting Standards moU memorandum of Understanding
Bicm Bangladesh institute of capital market nBFi non-Banking Financial institutions
Bo Beneficiary owners nDE national Development Engineers

BSEc Bangladesh Securities and Exchange commission nBR national Board of Revenue

cAT credit Administration Terminal nSP network Service Provider

oicEF The organization of islamic cooperation Exchanges Forum
cDBL central Depository Bangladesh Limited
omS order management System
cEo chief Executive officer
oTc over the counter
cFo chief Financial officer
PD Project Director
cmT crisis management Team
PF Provident Fund
cSD common Services Department
RAc Regulatory Affairs committee
cSE chittagong Stock Exchange
RAD Regulatory Affairs Division
cTo chief Technology officer
REiT Real Estate investment Trust
Dcci Dhaka chamber of commerce and industry
RJSc Registrar of Joint Stock companies and Firms
DP Depository Participant
RPo Repeat Public offering
DSE Dhaka Stock Exchange
S&P Standard & Poor's
DU University of Dhaka
SAFE South Asian Federation of Exchanges
Egm Extraordinary general meeting
SAn Storage Area network
EPS Earnings per Share
SnD Special notice Deposits
ETF Exchange Traded Fund
SRo Self Regulatory organization
FBcci The Federation of chambers of commerce and industries
ToR Terms of Reference
Fc Fiber channel ToT Training of Trainers
FcA Fellow of chartered Accountants TREc Trading Right Entitlement certificate
FcmA Fellow of cost & management Accountants TWS Trading Work Station
FDR Fixed Deposit Receipt UAT User Acceptance Testing
FY Financial Year Un SSE United nations Sustainable Stock Exchange
gDP gross Domestic Product VAT Value Added Tax
gni gross national income WAn Wide Area network
icT information and communication Technology WFE World Federation of Exchanges
iFRS international Financial Reporting Standard WPPF Workers Profit Participation Fund

214 DSE ANNUAL REPORT n­2019-20

DSE ANNUAL REPORT n­2019-20
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216 DSE ANNUAL REPORT n­2019-20
 Dhaka Stock Exchange Limited
Stock Exchange Building, 9F, Motijheel CA, Dhaka-1000, Bangladesh
✆+880-2-9564601, 9576210-18, 7+880-2-9564727, 9569755
*@ [email protected], www.dse.com.bd