B Mirror Report: The Dhaka Stock Exchange (DSE) has submitted a series of proposals to Bangladesh Bank Governor Md. Mostakur Rahman aimed at improving transparency, governance, liquidity management, and long-term financial stability in the country’s capital market.

The proposals were presented during a meeting held on Thursday between the central bank governor and a seven-member DSE delegation led by DSE Chairman Mominul Islam.

Other members of the delegation included directors Syed Hammadul Karim, Snehasish Barua, Minhaj Mannan Emon, Richard D’Rozario, Md. Sazedul Islam, and Managing Director Nuzhat Anwar.

During the meeting, the DSE delegation outlined several recommendations designed to modernize and strengthen the stock market in line with international standards and technology-driven practices.

Among the key proposals were extending the operating hours of the Real Time Gross Settlement (RTGS) system, supporting the transition of the settlement cycle from T+2 to T+1, gradually liquidating DSE-held Fixed Deposit Receipts (FDRs) and Short Notice Deposit (SND) accounts across scheduled banks to enhance technological capabilities, simplifying NITA account procedures for foreign investors, introducing IPO and bond market-based recapitalization measures, developing the secondary market for government securities, launching Sukuk trading, and ensuring stock exchanges have access to Credit Information Bureau (CIB) reports.

The delegation also expressed concern over uncertainty among general shareholders regarding the planned merger of five financially weak Islamic banks — First Security Islami Bank PLC, Social Islami Bank PLC, Global Islami Bank PLC, Union Bank PLC, and EXIM Bank PLC.

According to the DSE representatives, ordinary investors risk losing ownership without adequate compensation, while the burden of poor management, irregularities, and financial mismanagement is being shifted onto general shareholders.

The delegation urged the central bank to take necessary measures to protect the interests of small and retail investors, ensure fair compensation, and maintain transparency throughout the merger process.

After hearing the proposals and concerns, the Bangladesh Bank governor assured the delegation that the matters would be considered seriously and that necessary steps would be taken accordingly.

The DSE expressed hope that implementation of these proposals would help restore investor confidence, improve market liquidity and efficiency, and contribute to building a sustainable and internationally competitive financial market in Bangladesh.