The Bangladesh Securities and Exchange Commission (BSEC), the stock market regulator, has achieved notable advancements in its financial operations for the fiscal year 2023-24. During this timeframe, the commission’s net income surged by 50 percent, reaching Tk 260.6 million compared to the previous year.

As per the annual financial report released on August 12, the total income of the regulatory authority rose by 9 percent to Tk 122.6 million. After accounting for all expenses, the net income was recorded at Tk 260.6 million.

The report indicated that BSEC’s primary income sources include registration fees, annual and renewal fees, application and approval charges, fines and penalties, maintenance fees for BO accounts, and interest accrued from deposits. By the end of June 2024, the regulatory body’s total assets amounted to Tk 4.4 billion.

In the report, BSEC Chairman Khandaker Rashed Maksud noted that despite the rapid economic growth in Bangladesh over recent decades, the stock market has not kept pace. He stated, “There is a strong demand for long-term investment across all sectors of the economy, yet this demand is not mirrored in the size of our stock market. Developing the stock market is crucial for building a robust economy in Bangladesh, particularly during times of crisis.”

Rashed Maqsood further elaborated that the BSEC has initiated various measures to enhance the stock market as a key source of long-term financing and to establish it as a trustworthy investment environment. However, the chairman acknowledged that the market has experienced a downturn in daily transactions and increased volatility in the fiscal year 2024.

Maqsood outlined several priorities aimed at restoring investor confidence and ensuring the stock market’s effective role in providing long-term capital. These priorities include—collaboration with other financial regulatory bodies, upgrading market structure and management to meet international standards, ensuring good governance through automation, enhancing the monitoring process, and effectively utilizing human resources.