Faruq Ahmad Siddiqi

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Faruq Ahmad Siddiqi is a retired secretary and former Bangladesh Securities and Exchange Commission chairman. [1] [2] [3] He is a former tax policy member of the National Board of Revenue. [4]

Contents

Siddiqi is an independent director of Mutual Trust Bank. [5]

Early life

Siddiqi did his bachelor's degree and masters in English literature and language from the University of Dhaka in 1966 and 1967 respectively. [6]

Career

From 2001 to 2006, Siddiqi served as secretary of the Ministry of Posts, Telecommunications and Information Technology, Ministry of Education, and Ministry of Commerce. [6] From 2006 to 2009, he was the chairman of Bangladesh Securities and Exchange Commission during the Fakhruddin Ahmed led Caretaker government. [6] He had warned against overevaluation of shares before entering market. [7] He retired in March 2009 and was replaced by acting chairman Mansur Alam. [8]

Siddiqi was an independent director of Summit Power International Limited. [6] He is a member of the Rating Committee of the Credit Rating Agency of Bangladesh Limited. [6] [9] He had served as an independent director of Al- Arafah Islamic Bank Limited. [4] He is a former director of Apex Tannery Limited and Runner Motors Limited. [4]

In January 2021, Siddiqi joined Mutual Trust Bank as an independent director. [10] In September 2021, Siddiqi stated that the Bangladesh Securities and Exchange Commission needs to work closely with Bangladesh Bank but there was no need for alarm over the stock markets. [11] He was critical of the low quality companies offering IPOs. [12]

In 2024, Siddiqi blamed the declining index of Dhaka Stock Exchange on panic created by poor performance of various economic indicators of Bangladesh. [13]

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References

  1. ↑ "Share market: No respite from free fall, investors protest". Prothomalo. 2024-04-24. Retrieved 2024-09-07.
  2. ↑ "'Sophisticated software, tech savvy manpower needed to check share market manipulation'". The Financial Express. Retrieved 2024-09-07.
  3. ↑ "Five suggestions of Farooq Ahmed Siddiqui about capital market". Business Mirror. 2020-07-19. Retrieved 2024-09-07.
  4. 1 2 3 "MTB appoints Faruq Ahmad as Independent Director - - observerbd.com". The Daily Observer. Retrieved 2024-09-07.
  5. ↑ Sakib, Shanaullah (2023-03-22). "Whose interest 'cousin' directors serve at private banks". Prothomalo. Retrieved 2024-09-07.
  6. 1 2 3 4 5 "Summit Power International Limited, Summit Group, Summit Power, Summit Power Bangladesh, Summit Power Singapore". Summit Power International. 2017-11-29. Retrieved 2024-09-07.
  7. ↑ "SEC sounds warnings to newcomers on share overvaluation". Bdnews24.com. Retrieved 2024-09-07.
  8. ↑ "Ex-SEC chief sees capital market becoming 'emerging market'". Bdnews24.com. 15 March 2009. Retrieved 2024-09-07.
  9. ↑ "Rating Committee – Credit Rating Agency of Bangladesh Ltd" . Retrieved 2024-09-07.
  10. ↑ "Faruq joins MTB as independent director". New Age. 25 January 2021. Retrieved 7 September 2024.
  11. ↑ "It's time regulators remain alert about capital market: Ex-BSEC chairman". The Business Standard. 2021-09-07. Retrieved 2024-09-07.
  12. ↑ "BSEC grilled for poor IPO quality". The Business Standard. 2022-09-17. Retrieved 2024-09-07.
  13. ↑ Habib, Ahsan. "Dhaka Stock Exchange key index shed 1,000 points in 3 months". asianews.network. Retrieved 2024-09-07.
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