Staff Reporter :
Bangladesh’s capital market has effectively become a “den of robbers”, where small investors are routinely exploited through fraud and manipulation, said Shafiqul Alam, Press Secretary to the Chief Adviser, on Sunday.
Speaking as the chief guest at a CMJF Talk organised by the Capital Market Journalists Forum (CMJF), Shafiqul delivered a stark assessment of the current state of the market.
Referring to a recent high-level meeting chaired by the Chief Adviser on capital market affairs, Shafiqul remarked, “The discussion was intense. Why can’t we take effective action? Because the entire share market has become a sanctuary for fraudsters. When one exits, another takes their place.”
He further criticised the ineffectiveness of past reform efforts, alleging that those appointed to drive reforms have often been compromised.
“Even the individuals tasked with cleaning up the system are frequently found to be part of the same corrupt cycle. As Professor Yunus has pointed out, we need strong and comprehensive reforms, led by people who are free from the influence of vested interest groups. Only then will real change be possible.”
According to Shafiqul, repeated reform initiatives within the Bangladesh Securities and Exchange Commission (BSEC) and the broader capital market have failed due to the dominance of powerful interests. “Historically, those in leadership positions have prioritised the agendas of select groups. One faction is merely replaced by another, while major beneficiaries continue to profit,” he said.
He expressed concern over the plight of ordinary investors, particularly small savers, who treat stocks as a secure form of long-term investment. “These investors have been systematically misled and exploited through market manipulation, with little to no protection or recourse,” he added.
The CMJF Talk event was presided over by CMJF President Golam Samdani Bhuiyan and moderated by General Secretary Abu Ali.
