Dhaka, July 30 -- Ul-Islam, former chairman of the Bangladesh Securities and Exchange Commission (BSEC), has been declared 'persona non grata' in the capital market for life, while Sheikh Shamsuddin Ahmed, a former commissioner, has been banned for five years.

This significant decision was made on Wednesday at the 965th board meeting of the BSEC Commission, according to a press release.

The proposal for Bangladesh Export Import Company Limited's (Beximco) Tk3,000 crore, five-year Beximco Secured Convertible or Redeemable Asset-Backed Green Sukuk was approved at the 779th commission meeting held on June 23, 2021.

The proposed Green Sukuk was approved for issuance of Tk 2,250 crore through private placement (Tk 750 crore from existing sh...