Stakeholders have demanded the formation of a ‘fact finding’ committee to investigate the irregularities and frauds in the capital market in the last 15 years.
This demand was made at a press conference on the current situation of the capital market and what needs to be done at the Dhaka Club in Shahbagh in the capital on Thursday (January 9). The country’s main capital market, the Dhaka Stock Exchange (DSE), organized the press conference.
Dhaka Stock Exchange Chairman Mominul Islam, Chittagong Stock Exchange (CSE) Chairman AKM Habibur Rahman, DSE Brokers Association of Bangladesh (DBA) President Saiful Islam, DSE Director Major General Kamrul Islam (Retd.), Md. Shakil Rizvi, Md. Shahjahan, Richard De Rosario, Minhaj Mannan Emon, Bangladesh Merchant Bankers Association (BMBA) President Majeda Khatun and DSE Acting Managing Director Sattwik Ahmed Shah were present.
He said, we have caught the continuous decline. Where we all had fears of decline, when everyone in the market panicked. Secondly, a large part or part of us who were market players have been involved in various irregularities, when they are brought to justice it is not unusual to have various steps to bring down the market. In that context, where we are, our expectations will be better from here. But what is there at the moment, you cannot call it unusual.
Yet if I had invested in weaker stocks following rumours, the losses had been greater. And those who invested by looking at the fundamentals, I think they did not suffer, but rather benefited, said the DSE Chairman.
CSE chairman Habibur Rahman said, we are working completely free from influence. We have discussed various issues with BSEC. There is no pressure on us.
DBA President and Director of BRAC EPL Stock Brokerage Limited Saiful Islam said, “Fact finding” committee should be made to investigate what irregularities and frauds have occurred in the capital market in the last 15 years. They will investigate the irregularities, corruption and various scams in this market from 2010 to 2024. Because if the irregularities are not identified, the solution to the problem cannot be found.