BSEC chief unveils reform agenda to strengthen capital market

Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan today outlined a broad reform agenda aimed at restoring investor confidence, strengthening market institutions and accelerating the development of the country's capital market.

Speaking at the 'CMJF Talk' organized by the Capital Market Journalists Forum (CMJF) in the capital, Khan said the Commission has already undertaken a series of measures to make the capital market more transparent, efficient and investor-friendly.

He said the BSEC withdrew the long-standing floor price to allow normal market operations and improve price discovery. 

The Commission has also taken initiatives to resolve issues related to Global Depository Receipts (GDRs) and regain the confidence of foreign investors, he added.

Khan said the Dhaka Stock Exchange (DSE) has been given greater operational independence to strengthen market surveillance and enable prompt action against abnormal price movements and companies violating securities rules.

He said the Commission worked closely with the Finance Ministry to incorporate several capital market-friendly measures in the national budget, including tax exemptions for zero-coupon bonds and reduced tax burdens on inter-company dividends.

The BSEC chairman said revitalizing the mutual fund sector is one of the Commission's top priorities to encourage greater participation in professionally managed investment vehicles.

He said the Commission is also working to introduce licensed financial advisers, simplify the initial public offering (IPO) process, expand opportunities for direct listing of eligible companies and ensure a market-friendly regulatory framework to support sustainable growth.

Khan expressed optimism that the ongoing reforms would help deepen the capital market, attract both local and foreign investment, and contribute more effectively to the country's economic development.