Staff Reporter :
Reforming Bangladesh’s capital market is a complex and long-term endeavour that requires strategic planning, patience, and unwavering commitment, said Dr Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser, during a stakeholder discussion on Monday.
Speaking at a “Meet and Greet Discussion on the Current State of Bangladesh Capital Market” hosted by the DSE Brokers Association (DBA) at the DSE Tower in Nikunja, Dr Chowdhury stressed the importance of a cautious approach to reform. He warned that rushed or premature measures could trigger instability and create uncertainty in the market.
He also criticised the historical neglect of the capital market’s role in driving economic growth, stating that successive governments had failed to recognise its potential. In contrast, he noted that the current interim administration, under Chief Adviser Professor Muhammad Yunus, is committed to initiating comprehensive and sustainable reforms.
Addressing structural challenges, Tapan Chowdhury, Managing Director of Square Pharmaceuticals and Chairman of Central Depository Bangladesh Limited (CDBL), highlighted the limited incentives for companies to list on the stock exchange. “If a company doesn’t need to raise capital, what reason does it have to enter the market?” he asked, pointing to a broader issue regarding the market’s underutilised role in corporate financing.
To tackle these shortcomings, the Bangladesh Securities and Exchange Commission (BSEC), under the leadership of Chairman Khondoker Rashed Maqsood, is working to overhaul key regulations. The reform agenda includes updates to rules governing mutual funds, initial public offerings (IPOs), and margin lending.
According to BSEC officials, the commission aims to complete 60-70 percent of the reform process through legislative and regulatory changes.
The DBA has proposed the creation of a dedicated task force to oversee the implementation of reforms and ensure accountability. They stressed that rebuilding investor confidence and fostering a resilient capital market will require close cooperation among all market participants.
The event was attended by senior figures in the financial sector, including BSEC Chairman Khondoker Rashed Maqsood, Investment Corporation of Bangladesh (ICB) Chairman Professor Abu Ahmed, Dhaka Stock Exchange (DSE) Chairman Mominul Islam, CDBL Chairman Tapan Chowdhury, and Foreign Investors’ Chamber of Commerce and Industry (FICCI) President Javed Akhter, among others.
