Stock market manipulated for political profits

Staff Reporter :

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury has accused the government of manipulating the stock market for political benefits over the past 15-16 years, rather than fostering its growth as an economic asset.

Speaking at a roundtable discussion on “The Current State of the Bangladesh Capital Market and Way Forward” at the DSE Multipurpose Hall in Nikunja on Wednesday, Khasru stated, “The stock market was used for political exploitation instead of being properly owned and managed by the government.”

Khasru, the founding chairman of the Chittagong Stock Exchange, criticized past governments for treating the stock market as a separate entity rather than integrating it into the national economy.

“The stock market is a driving force for the economy, but it has been neglected,” he emphasized.
He called for greater transparency, accountability, and legal action against stock market manipulators, stressing the need to identify and prosecute those responsible for past financial irregularities.

“If these manipulators are not held accountable, they will continue their activities in the share market, directly or indirectly, because at the end of the day, money talks,” he warned.

Khasru assured that if BNP comes to power through a free and fair election, they will “own the stock market” and integrate it with other sectors of the economy to ensure long-term stability.

He urged the Brokers Association to remain vigilant against manipulation and pledged reforms to prevent future market exploitation.

The former commerce minister insisted that those who looted the share market must be brought under a new legal process to ensure justice for millions of investors who suffered losses.

The event was also addressed by former chairman of the Bangladesh Securities and Exchange Commission (BSEC) Faruq Ahmad Siddiqi and was chaired by DSE Brokers Association President Saiful Islam.