BSEC has reinstated Ibrahim Ali after lifting his suspension, while imposing a disciplinary penalty.
TBS Report
14 October, 2026, 09:30 pm
Last modified: 14 October, 2026, 09:35 pm
The Bangladesh Securities and Exchange Commission (BSEC) has withheld the annual increment of its Assistant Director Md Ibrahim Ali for one year after an internal investigation found him guilty of professional misconduct and breach of confidentiality.
According to a gazette notification issued by BSEC Chairman Masud Khan, the commission has lifted Ibrahim Ali's suspension and reinstated him to his position while imposing the disciplinary penalty.
The proceedings stemmed from an incident on 4 March 2026, when Ibrahim Ali issued an unauthorised letter concerning the appointment of independent directors at Navana Pharmaceuticals PLC, despite an ongoing complaint regarding the company's board.
The investigation found that he issued the letter without approval from higher authorities and later met Navana Pharmaceuticals' acting company secretary, Md Aminul Huq Bhuiyan, outside the office premises near Dhaka's Agargaon Passport Office on the same afternoon.
During the meeting, Ibrahim Ali handed over the unauthorised letter and allowed the company official to photograph it, in violation of official protocol and confidentiality rules.
When questioned by BSEC authorities the following day, he initially denied the exchange and provided false statements, according to the investigation findings.
Following these breaches, BSEC suspended Ibrahim Ali on 1 April 2026 and initiated departmental proceedings. A formal inquiry led by BSEC Chief Accountant Kamrul Anam Khan concluded that Ibrahim Ali's actions constituted severe misconduct under the BSEC Employees Service Rules, 2021, and the Government Servants (Discipline and Appeal) Rules, 2018.
Although the offense warranted major penalties, including dismissal, the commission opted for a lighter penalty during its meeting on 29 September.
The regulator considered his written confession, unconditional apology, and commitment to avoid future lapses. Consequently, BSEC decided to withhold his annual pay increment for one year and treat his suspension period as active service with full salary and allowances.