IDLC Investments Limited, a subsidiary of IDLC Finance PLC, recently organized a discussion titled IDLC Capital Market Conclave 2026. Held on Saturday (October 10) at the Renaissance Dhaka Gulshan Hotel, the event brought together industry experts to discuss the future of Bangladesh’s capital market and the development of a sustainable financial system.
The event was attended by prominent policymakers, regulators, senior officials from banks and various corporate institutions, economists and capital market representatives. Discussions focused on measures to expand Bangladesh’s capital market and establish a more advanced and balanced financial system. Discussants emphasized the importance of increasing the participation of large institutions and reputable brands with strong financial foundations, sound corporate governance and a consistent track record of business success to further deepen the capital market. Discussions also highlighted the need to bring new companies into the market through initial public offerings (IPOs) and direct listings, expand investment opportunities, improve market liquidity and strengthen investor confidence.
The chief guest at the event was Masud Khan, Chairman of the Bangladesh Securities and Exchange Commission (BSEC). Also present were Dr. Imam Abu Sayeed, Executive Director of Bangladesh Bank; Kazi Mahmood Sattar, Chairman of IDLC Finance PLC; M Jamal Uddin, Chairman of IDLC Investments Limited; Dr. Nazneen Ahmed, Executive Director of the Centre for Policy Dialogue; Tanvir Habib Rahman, BSEC Commissioner; and Mominul Islam, Chairman of the Dhaka Stock Exchange (DSE), among other esteemed attendees.
In his welcome address, M Jamal Uddin, Chairman of IDLC Investments Limited, said, “As Bangladesh’s economy continues to advance, the financing needs of banks and financial institutions are also increasing. The importance of alternative sources of financing is growing to meet this rising demand. In this context, there is no alternative to developing a strong and effective capital market. The banking sector has always played an important role in the country’s financial system. However, if the capital market can be developed into a more effective alternative for long-term corporate financing, it will be possible to significantly ease the growing financing pressure on the banking sector.”
BSEC Chairman Masud Khan said, “We want companies to enter the capital market voluntarily, without being compelled to do so, and benefit from it. We have already held direct discussions with several domestic, foreign and multinational companies. Private-sector entrepreneurs should give serious consideration to listing on the stock market.”
Kazi Mahmood Sattar, Chairman of IDLC Finance PLC, said, “In other countries, individuals who save money, but have limited understanding of and confidence in the capital market generally rely on mutual funds. Unfortunately, good practices in mutual fund management have not been established in Bangladesh. Here, they tend to favor fixed deposits, but rates on those deposits have now also fallen to single-digits. We need to give particular attention to the stock market to serve this category of savers. Not every investor in the stock market is willing to gamble. Many people want secure returns that may be somewhat higher than the interest rates offered on bank fixed deposits. We need to restore that confidence among stock market investors.”
Mesbah Uddin Ahmed, Managing Director of IDLC Investments Limited, said, “Of the three principal sources of financing bonds, equity and bank loans—companies in Bangladesh rely 75%, that is almost entirely, on bank borrowing. In India, this dependence stands at around 53%, while in more developed markets, reliance on bank financing is only 15% to 20%. At the same time, Bangladesh’s capital market has the lowest market capitalization compared with neighboring countries. We are not saying that dependence on banks is bad. Financing through the banking sector has made a significant contribution to the sustained growth and development of our economy, including GDP growth. However, we need to work towards building a more resilient and balanced financial structure.”
Mominul Islam, Chairman of the Dhaka Stock Exchange, said, “Our current market capitalization stands at 7.4% of GDP or less. We have set a target of increasing this to 20% of GDP by 2030. As a result, the size of our market, including bonds and government securities, will grow from its current equity market value of US$30 billion to more than US$200 billion. This is certainly achievable when compared with other Asian countries. However, it will require the active participation, confidence and trust of all stakeholders.”
Other speakers at the event included Abdul Hai Sarker, Chairman of the Bangladesh Association of Banks (BAB); M. A. Rahim, Vice Chairman of DBL Group; Md. Rashiduzzaman, Head of Investment Banking at IDLC Investments Limited; and Md. Marufur Rahman Majumder, Managing Director (MD) of Saudi-Bangladesh Industrial and Agricultural Investment Company Limited (SABINCO).
One of the key sessions of the event was a panel discussion titled “Rethinking the Balance Sheet: Diversifying Corporate Financing.” The panel featured an in-depth discussion on how businesses can address financing constraints and develop appropriate financing structures by raising funds from diverse sources. The discussion also highlighted the importance of corporate governance, regulatory frameworks and effective financial structures in enhancing long-term business value.
The conclave concluded with an emphasis on strengthening collaboration among regulators, businesses, banks and capital market institutions to build a stronger and more effective financial system.
