“We are working on listing companies with good fundamentals in the capital market,” stated Dr. Anisuzzaman Chowdhury, special assistant to the principal advisor and chairman of the committee established by the Ministry of Finance’s Financial Institutions Division for the development of the capital market. We are sitting with and listing a few government-owned businesses. In this sense, the administration is resolute. We will witness positive outcomes, insha’Allah. He added that surveillance efforts should be bolstered and that all involved should exercise vigilance.

Dr. Anisuzzaman stated that dialogue is essential, as there is no substitute for it. All issues can be collaboratively resolved. Conversations with relevant parties will persist for the benefit of the capital market.

The meeting commenced at 10:30 am in the BSEC Multipurpose Hall located in Agargaon, Dhaka. It was an open forum addressing the current state of the capital market and various related concerns with stakeholders. This information was disclosed in a press release issued by BSEC Director and Spokesperson Md. Abul Kalam.

Present at the meeting were Special Assistant to the Chief Advisor Dr. Anisuzzaman Chowdhury, BSEC Chairman Khandaker Rashed Maksud, BSEC Commissioner Md. Mohsin Chowdhury, Md. Ali Akbar, Farzana Lalarukh, along with leading representatives from capital market stakeholders and organizations. Dr. Anisuzzaman Chowdhury opened the meeting with a speech.

Additionally, the meeting included the Chairman of the Investment Corporation of Bangladesh (ICB) Board of Directors, Professor Abu Ahmed, Dhaka Stock Exchange PLC (DSE) Chairman Md. Mominul Islam, Chairman of Chittagong Stock Exchange PLC (CSE) AKM Habibur Rahman, Chairman of Central Counterparty Bangladesh Limited (CCBL) Major General (Retd.) Md. Wahid-uz-Zaman, President of DSE Brokers Association of Bangladesh (DBA) Saiful Islam, Managing Director of ICB Niranjan Chandra Debnath, Acting Managing Director of CDBL Md. Abdul Motaleb, Acting Managing Director of CCBL ASM Khairuzzaman, President of Bangladesh Merchant Bankers Association (BMBA) Majeda Khatun, DSE Directors Md. Shakil Rizvi and Minhaj Mannan Emon, Director and Executive Member of BAPLC Md. Kaiser Hamid, Acting Managing Director of DSE Mohammad Asadur Rahman, CEO of VIPB Asset Management Company Shahidul Islam, Member of the Capital Market Reform Task Force AFM Neseruddin, CSE CRO Mohammad Mahadi Hasan, CEO of ICB Asset Management PLC Mahmuda Akhter, First Vice President of BMBA Riyad Matin, General Secretary of BAPLC Amjad Hossain, along with Executive Directors, Directors, and the Commission Secretary of BSEC.

Among other things, the discussion included listing major domestic companies with strong fundamentals, state-owned enterprises, or multinational corporations in the capital market, establishing an online or digital IPO application system, eliminating current barriers to listing, creating a dedicated task force or team to streamline and expedite the listing process, enhancing the capacity of capital market participants including ICB, ensuring the proper role of ICB, fostering the mutual fund sector, promoting good governance among institutions in the capital market, utilizing real estate investment funds, enforcing and implementing CCBL, modernizing the existing capital market structure and reducing settlement times, categorizing companies, developing a distinct platform similar to the SME Board for IT firms, addressing negative equity, initiating primary auctions of treasury bonds via the stock exchange, advancing the bond market, broadening the operational scope of merchant banks, financial reporting, accounting, and auditing activities, increasing tax exemption benefits in the capital market, taking decisive actions to curb irregularities and manipulation within the capital market, expanding and enhancing investment education, boosting investor confidence, progress in executing the directives of the Honorable Chief Advisor regarding the capital market, safeguarding investors’ investments and interests, establishing the capital market as a source of long-term financing, and more were thoroughly discussed.

During the meeting, the BSEC Chairman provided an update on the advancements in sustainable development and reform of the capital market, which included the directives from the Chief Advisor, the initiatives and programs undertaken by the BSEC for capital market development, the recommendations from the Capital Market Reform Task Force, the report from the Investigation Committee, and the actions taken in response to various proposals from capital market stakeholders.

He reported that the recently announced online IPO application system, which aims to create a digital capital market, has successfully finished a pilot testing and training session. He gave the capital market players his word that other measures, such as revising the securities laws and implementing the required changes, would be swiftly put into place in the sake of long-term reform and capital market growth. The organization’s chairman expressed gratitude to the market players for their valuable insights, recommendations, and ideas on a range of capital market-related topics.