The Chairman of Dhaka Stock Exchange (DSE) Mominul Islam commented that there is a need for some reforms in Initial Public Offering (IPO), funds and bonds. He also said that we will try to work with the capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC) and the government in this regard.
He said these things at the discussion meeting on the current position and future plans of the capital market organized by DSE Brokers Association of Bangladesh (DBA) at the Dhaka Club in the capital on Saturday (November 2). At that time, DBA President Saiful Islam, ICB Chairman Prof. Abu Ahmed, former BMBA President Chayedur Rahman and other media journalists were present.
He said that DSE’s human resources and technical skills should be increased. We will do that soon. We lack transparency in some areas. We will work to restore transparency in these places.
He commented that the question of where reforms are needed in the capital market has come up in the discussion of journalists today. The DSE chairman thanked the journalists sincerely for this.
DSE Chairman said, there is no opportunity to see the capital market as an isolated island. Capital Market Currency Market is the most beautiful creation of economy. But we have made our creation into non-creation. It is a reflection of us as a whole, economically and politically. Corruption, lack of justice, inefficiency and wrong decisions in the country are the issues in the capital market. The result is this situation today.
Mominul Islam said, we have created a culture of injustice. For which market manipulation has not decreased. Investors, market intermediaries are getting affected.
He also said that over-dependence on banks has destroyed banks, as well as our economy. We have to get out of it.
The DSE chairman also said that some issues related to tax came up in the discussion. We are working with NBR on this. So that NBR will get more tax, at the same time the market will improve. Which will be market friendly.
