Of the seven, Nur Mohammed was fined Tk 2 lakh, Nasrin Akhter Chowdhury Tk 5 lakh, Tasmin Akhter Chowdhury Tk 2 lakh, and Standard Stitches Ltd, Standard Group Ltd, Amotex Ltd and Dhaka Insurance each Tk 1 lakh.

According to a notice issued yesterday, the fines will have to be paid to the SEC by bank draft or pay order within the next 15 days.

In the order, the stock market regulator also suspended till August 31 next year the transactions of 719,350 shares held by those sponsor directors.

Nur Mohammed has 32,000 shares in the bank while those of Nasrin Akhter total 419,850, Tasmin Akhter 115,500, Standard Stitches 50,000, Standard Group 51,000, Amotex 40,000 and Dhaka Insurance 11,000.

On August 31 last year, the capital market watchdog halted till further orders transactions of around 11 lakh shares of Jamuna Bank held by 30 sponsor directors after it found the directors' involvement in insider trading and price manipulation.

The SEC probe also gathered that the issue managers, the issuer company and its management including sponsors, directors and officers concerned gave the commission incorrect information and hid important material information in the lead-up to the bank's initial public offering (IPO).

On September 12 last year, the SEC served a show-cause notice on Jamuna Bank, its directors, managing director and the company secretary for concealing facts regarding transfer of shares.

The notice mentioned that the board of directors of the bank at a meeting on November 27, 2005 approved transfer of 14 sponsor directors' shares to 23 people but did not inform the commission about the decision despite that being legally binding.