The capital market watchdog will select the new members of the committee soon, SEC sources said.

The decision was made at a meeting presided over by SEC Chairman Faruq Ahmad Siddiqi in Dhaka yesterday.

The committee remains inactive for the last six years.

The committee will give suggestions and opinions to the SEC so that the commission can monitor and take necessary measures to bring transparency in the capital market.

The SEC sources said the committee will be comprised of economists, capital market experts, financial institution representatives and stock brokers.

The committee may have 25 members headed by the SEC chairman.

"The commission will announce the committee through a notification very soon," SEC Executive Director Mansur Alam said, adding that the committee will be formed as per the Article 27 of Securities and Exchange Ordinance 1969.

Another sponsor director of IFIC Bank wants to sell shares

Meanwhile, another sponsor director of IFIC Bank-- Golam Halim -- has expressed his intention to sell 49,582 shares of the bank out of 72,129 he is holding.

According to CSE website, he has made the intention to sell his shares through the Chittagong Stock Exchange within the next 30 working days.

Earlier, three sponsor directors -- Salman F Rahman, R Rahman and Iqbal Ahmed -- sold around 3 lakh shares of the bank.