DSE pledges support to new BSEC leadership for capital market reforms
The Board of Directors of the Dhaka Stock Exchange (DSE) on Sunday pledged full cooperation with the newly-appointed leadership of the Bangladesh Securities and Exchange Commission (BSEC) to implement fundamental reforms aimed at building a transparent, efficient and technology-driven capital market.
A DSE delegation, led by its Chairman Mominul Islam, met newly-appointed BSEC Chairman Masud Khan and three commissioners at the commission’s office in the capital to congratulate them and discuss the future roadmap for the country’s capital market, said a press release.
During the meeting, Masud Khan said the commission had already initiated a clear action plan to make the capital market more effective, dynamic and investor-friendly.
He said the primary objective is to establish a transparent and efficient regulatory framework by reducing unnecessary complexities and strengthening market governance.
The BSEC chairman said the commission would review and amend existing regulations related to Initial Public Offerings (IPOs), margin loans and mutual funds as part of the reform process.
He also stressed the importance of full digitalisation of market operations and bringing the IPO process in line with international standards.
Assuring the commission of the DSE’s full support, Mominul Islam emphasized the need for a risk-based regulatory approach and highlighted the importance of enhancing institutional capacity for IPO evaluation and market surveillance.
Several DSE directors also placed a number of recommendations for strengthening the capital market.
Director Syeda Zakerin Bakht Nasircalled for a clear division of responsibilities and authority between the BSEC and DSE, alongside improved coordination in policy implementation and decision-making.
Director Snehasish Barua underscored the need for greater accountability and efficiency in IPO and rights issue processes to better safeguard investors’ interests.
Director Richard D. Rozario suggested reassessing share categories, introducing modern settlement systems and making the delisting process more effective.
Director Minhaj MannanImon stressed the importance of preventing irregularities in the brokerage sector and strengthening the exchange’s role in protecting investors during the IPO process.
DSE Managing Director Nuzhat Anwar informed the commission that the exchange is making necessary preparations to introduce script netting and a T+1 settlement system in coordination with the BSEC and Bangladesh Bank.
The meeting concluded with the DSE leadership expressing confidence that the new BSEC management would play a pivotal role in building a modern, sustainable and investor-friendly capital market in the country.
