M Khairul Hossain is a Bangladesh academic, Professor of Finance at the University of Dhaka, and had been the longest-serving head of

Bangladesh Securities and Exchange Commission The Bangladesh Securities and Exchange Commission (BSEC) is the regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). The commission is a statutory body and attached to the Mini ...

Early life

Hossain completed his bachelor's degree and Masters in Economics from Plekhanov Russian University of Economics in 1978 and 1979 respectively. In 1983, he completed his PhD from Plekhanov Russian University of Economics. In 2000, he completed his second PhD from

Prairie View A&M University Prairie View A&M University (PVAMU or PV) is a public historically black land-grant university in Prairie View, Texas. Founded in 1876, it is one of Texas's two land-grant universities and the second oldest public institution of higher learnin ...

in finance.

Career

Hossain has served as the chairman of the Investment Corporation of Bangladesh from 15 September 2009. He is a Selection Grade Professor and chairperson of the Department of Finance and Banking at the University of Dhaka. In 2010-2011 there was a severe financial crisis in the Dhaka Stock Exchange in the aftermath of the

2011 Bangladesh share market scam The 2010-11 Bangladesh share market scam was a period of instability in the stock market from 2009 to 2011; the turmoil was in the two Bangladeshi stock exchanges, DSE and CSE. The market rose 62% in 2009, and 83% in 2010, but then declined 10% ...

. Following which the government of Bangladesh appointed Hossain on 15 May 2011 to be the chairperson of the Bangladesh Securities and Exchange Commission to restore order to the market. He replaced Ziaul Haque Khondker who had served in the position since 2009. Hossain term ended on 2014 and was extended for additional four years. He extension required an amendment to the Bangladesh Securities and Exchange Commission (Amendment) Act 2012. His term was extended for another two years after his term ended. The Minister of Finance, Abul Maal Abdul Muhith, raised some questions over the legality of his second extension. The Daily Star described his second extension as unjustified because his term could not be considered successful. During his term, Hossain faced criticism for approving too many IPOs and declining values of the shares of those companies. In August 2019, the Anti-Corruption Commission started an investigation against Hossain. He faced allegations of embezzlement, money laundering, and approving IPOs after receiving bribes. The executive director of

Transparency International Bangladesh Transparency International Bangladesh (TIB) is the Bangladeshi branch of the Berlin-based Transparency International, a civil society organisation dedicated to fighting against corruption. History TIB started its activities in 1996. In 2016 it ...

called for his resignation. On 14 May 2020, Hossain ended his term as the chairperson of the Bangladesh Securities and Exchange Commission, the longest serving chairperson of the commission. He was replaced by Professor

Shibli Rubayat Ul Islam Shibli Rubayat Ul Islam (, Born: 1 January 1968) is the Chairman of the Bangladesh Securities and Exchange Commission. He is the former Chairman and Dean of the Faculty of Business Studies at the University of Dhaka. He is treasurer of Dhaka Univ ...

of the University of Dhaka.

References

{{DEFAULTSORT:Hossain, M Khairul Living people Plekhanov Russian University of Economics alumni Prairie View A&M University alumni Academic staff of the University of Dhaka Bangladeshi economists Year of birth missing (living people)