Shakib Al Hasan will no longer be BSEC’s brand ambassador

The Bangladesh Securities and Exchange Commission (BSEC) has decided to cancel the appointment of national cricketer Shakib Al Hasan as its brand ambassador.
The decision came from an emergency meeting of the commission held at the stock regulator’s head office in the capital today, according to a press release.
The BSEC appointed Shakib, the then best cricket all-rounder of the world, as its brand ambassador in 2017 to enhance the image of the country’s capital market and inspire investors.
At that time, the International Organization of Securities Commission—the international body that brings together the world’s securities regulators and is recognised as the global standard setter for financial markets regulation—suggested appointing famous politicians, sportspersons, professionals or celebrities as goodwill ambassadors.
However, the regulator found Shakib and his company Monarch Holdings involved in several stock market manipulation and punished Monarch even when the cricketer was the brand ambassador of BSEC.