BSEC to be reconstituted with skilled professionals within two weeks: Finance minister

The Bangladesh Securities and Exchange Commission will be reconstituted within the next two weeks with a leadership team comprising non-political and experienced market professionals, Finance and Planning Minister Amir Khosru Mahmud Chowdhury announced today (2 June).

Speaking as the chief guest at a discussion titled "Budget 2026-27: Expectations and Reality," organised by the Economic Reporters Forum, the minister said the process of appointing a new chairman and four commissioners is already underway.

"There is no political involvement in the selection process, and no opinions have been sought from politicians," he said. "We are reorganising the market. The chairman and all four commissioners are professionals. They all have expertise in the stock market."

The finance minister expressed optimism that the new leadership would bring significant positive changes to the country's capital market.

According to him, individuals with a strong understanding of the capital market are being entrusted with overseeing the regulator, a move aimed at improving market governance and restoring investor confidence.

He said many well-established companies had previously been reluctant to enter the stock market for various reasons. However, changing circumstances have encouraged greater interest in listing.

"Many entrepreneurs are now expressing interest in joining the stock market because they want to be listed on a genuine stock exchange rather than what they perceive as a casino-like environment," said the finance minister.

Khosru said the listing of more fundamentally strong companies would help reduce corporate dependence on bank financing and enable businesses to raise long-term funds through shares and bonds.

He also highlighted weaknesses in the banking sector, saying that many banks are currently under-capitalised as a result of years of irregularities and mismanagement. At the same time, a large number of investors had suffered losses, Khosru added.

Following the fall of the Awami League government in August 2024, the interim administration appointed former banker Khondoker Rashed Maqsood as chairman of the BSEC. Two commissioners were also appointed at that time.