Dhaka, March 5 The Chairman and Commissioners of the Bangladesh Securities and Exchange Commission (BSEC), the regulator of the country's capital market, were held captive by the commission's employees on Wednesday in protest against the forced retirement of an Executive Director.
An army team eventually rescued the Bangladeshi officials as the employees continued to hold a demonstration against an order issued that sent Executive Director Saifur Rahman into compulsory retirement, local media reported.
The protesting officials raised slogans, demanding an explanation for Rahman's forced retirement and gave an ultimatum for the resignation of the BSEC chairman, Bangladesh's leading newspaper Daily Star reported.
One of the main demands of the protesting BSEC officials is the cancellation of the order issued to Rahman for his compulsory retirement. In addition, they demanded the withdrawal of previously-issued notices against the commission employees. They also asked to stop the issuing of show cause notices to employees and an end to the unprofessional and inappropriate behaviour towards the Commission's officers and staff, along with an apology.
The commission officials and employees have announced a work stoppage starting Thursday if the BSEC chairman does not resign, reported another Bangladeshi daily, The Business Standard.
A BSEC official, on the condition of anonymity, told Prothom Alo that they have been confined to their offices. When contacted, several Executive Directors said junior officials have confined them to their offices, pressing various demands.
Bangladesh remains in the grip of several nationwide protest movements in recent months, especially after the interim government was sworn in under the leadership of Chief Advisor Muhammad Yunus.
A few days ago, the officials from 25 cadres of the Bangladesh Civil Service declared a strike in protest against the suspension of government officers.
The Inter-Cadre Discrimination Elimination Council in Bangladesh announced a full-day work abstention in solidarity with the suspended government officers. These officials were reportedly suspended merely for expressing their opinions on social media.
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