Dhaka, Sept. 18 -- A total of 17 directors of nine listed companies are going to lose their directorship for not holding minimum 2.0 per cent shares.

The securities regulator on Thursday finalised the decision signed by its chairman Prof Shibli Rubayat Ul Islam.

The officials of the Bangladesh Securities and Exchange Commission (BSEC) said the regulatory order regarding cancellation of directorship of non-compliant directors will be issued on Sunday.

In 2011, the securities regulator issued a directive setting the condition of holding minimum two per cent shares by each director of the listed companies.

The previous commission was not able to bring all directors under the compliance of holding stipulated amount of shares.

The incumbe...