Increase the speed of the ticker Set the ticker's scrolling direction to right

Research Team

Ayaz Mahmud, CFA

Head of Research

Ayaz joined BRAC EPL Stock Brokerage in December 2017 with more than 4 years of work experience in the financial industry. He is currently the Head of Research and looks over Macroeconomy, Banks, NBFIs and other sectors. Prior to joining BRAC EPL Stock Brokerage, he worked at VIPB Asset Management Company as a Fund Manager for a year. He started his journey in the capital market as a Research Analyst in IDLC Securities Limited and gained diverse knowledge by working on different sectors including Textile, Telecommunication, Footwear, FMCG, Bank and NBFI. He joined IDLC Finance Limited as a Management Trainee in 2014 and also served as Management Trainee in Dhaka Bank Limited for 8 months in 2012. Ayaz completed his BBA from BRAC University in 2011 and was awarded VC's gold medal for achieving highest CGPA from his department. He completed his MBA from IBA, University of Dhaka ending up among the top three in his batch. Ayaz earned his CFA charter in 2017 and he is an active member of CFA Society Bangladesh.

LinkedIn Profile


Anika Mafiz

Research Analyst

Ms. Anika Mafiz joined BRAC EPL Stock Brokerage as a Research Analyst in January 2021. She has worked extensively in both local and international investment teams. Prior to joining BRAC EPL, she worked as a consultant in CWT Asset Management Company. Before that, she worked as a consultant in the Investment team of Financial Institution (FIG) in International Financial Corporation (IFC), a sister concern of World Bank. Prior to that, she worked as a Research Analyst in UCB Capital Management Limited as the Bank and Telco Analyst. She started her career in Impress Capital Limited, an asset management company, as an Investment Associate. She has also worked as a Research Associate in Bluk Consultant, a financial consultancy firm specializing in startup valuation. She was one of the leading members of Runners-up team of CFA Research Challenge in Bangladesh 2016. She completed her BBA from University of Dhaka, majoring in Finance. She is a CFA Level III candidate.

LinkedIn Profile


Sadman Sakib

Research Associate

Sadman joined BRAC EPL Research in early 2016 and has more than four and a half years of equity research experience as a sell-side analyst. He is currently covering the listed FMCG stocks in the Dhaka Stock Exchange. He previously served as part of the research team covering closed-end Mutual Funds & Ceramic Industry. His research experience also includes conducting research on different topics within the domestic and international markets. Sadman received his B.Sc. in Electrical & Electronic Engineering from North South University.

LinkedIn Profile


Md. Rafiqul Islam

Research Associate

Md. Rafiqul Islam joined BRAC EPL Stock Brokerage Limited in February 2018 as a Research Associate, and he is currently covering Pharmaceuticals and Engineering companies listed in Dhaka Stock Exchange (DSE). He joined BRAC EPL as an intern in September 2017. Considering his keen interest in equity research, he was offered a full-time job in the Research Department after completing his internship. He completed his under graduation, majoring in Finance & Marketing from North South University and graduated amongst the top 5% of all graduating students from the university. He was one of the leading members of the Champion team of CFA Institute Research Challenge in Bangladesh 2017-18. He is also a CFA Level III Candidate in December 2020.

LinkedIn Profile


Md Mahirul Quddus

Research Associate

Md Mahirul Quddus joined BRAC EPL Stock Brokerage on February 2019. Prior to that he has worked in Standard Chartered Bangladesh as an Assistant Relationship Manager for eight months where he has performed credit analysis of the corporate clients. Currently he is covering the Financial & the Telecommunication Sector and also overseeing deliverables such as weekly mutual fund report, daily market update etc. In addition to that, he contributes in macro analysis and also delivers the weekly macro update. He received his BBA, major in finance, from Institute of Business Administration (IBA), University of Dhaka. He was one of the leading members of the First Runner-up team of CFA Institute Research Challenge in Bangladesh 2017-18. He is also a CFA Level III Candidate for the August 2021 examination.

LinkedIn Profile