Bangladesh Securities and Exchange Commission (BSEC) has decided to cancel national cricketer Shakib Al Hasan's designation as its brand ambassador, media reports said on Wednesday.
The decision was reached during an emergency meeting of the commission conducted on Wednesday at the stock regulator's headquarters in the capital, the Daily Star reported.
According to reports, In 2017, the BSEC appointed Shakib, the world's finest cricket all-rounder at the time, as its brand ambassador to boost the country's capital market image and excite investors.
At the time, the International Organisation of Securities Commission the international body that brings together the world's securities regulators and is recognised as the global standard setter for financial market regulation suggested appointing well-known politicians, athletes, professionals, or celebrities as goodwill ambassadors.
The regulator found Shakib and Monarch Holdings involved in multiple stock market manipulations and fined them, despite Shakib's role as BSEC's brand ambassador, it added. (UNI)