Meaning to build a roadmap for capital market vogue, key stakeholders possess proposed several modifications, together with amendments to IPO guidelines, enhancing the quality of IPOs, enhancing digital transformation and fintech solutions, introducing contemporary products, having access to KYC files from CDBL, facilitating the buyback of shares, imposing exemplary punishments, and strictly implementing the securities regulations of the capital market.
They made the proposals for the Bangladesh Securities and Exchange Commission (BSEC) all the absolute best way thru a discussion assembly held between BSEC and senior executives from Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), Central Depository Bangladesh Restricted (CDBL), Central Counterparty Bangladesh Restricted (CCBL), Bangladesh Institute of Capital Market (BICM), Bangladesh Academy for Securities Markets (BASM), and the Capital Market Stabilization Fund (CMSF) yesterday.
The assembly used to be held at the BSEC headquarters in Dhaka’s Agargaon and used to be presided over by BSEC Chairman Khondkar Rashed Maksud. Moreover contemporary had been BSEC Commissioner Mu Mohsin Chowdhury, Md Ali Akbar and Farzana Lalarukh.
Aiming at strengthening the market and boosting investor self perception the representatives of the companies and institutes shared their opinions and solutions concerning comprehensive reforms in the capital market.
Issues of debate integrated regulatory framework reforms, guaranteeing regulatory compliance and institutional governance, technological vogue and modernisation, efficient measures for the enchancment of market products, expansion of investment education, increasing investor awareness, strengthening academic and practising functions to enhance the capabilities of professionals working in the market, diversification of the market, the introduction of contemporary products, and most importantly, constructing investor self perception for optimistic and sustainable reforms in the capital market.
All participants agreed on the need for BSEC and linked institutions to work together as companions for the enchancment of the country’s capital market.
AGM Sattique Ahmed Shah, performing managing director of the Dhaka Stock Exchange (DSE), proposed several key complications which can be compulsory for advancing the capital market.
Nonetheless, he emphasised that these proposals are no longer final and require further discussion to make sure correct implementation for the total enchancment of the capital market.
Saifur Rahman Mazumdar, managing director of the Chittagong Stock Exchange (CSE), proposed several specific complications aimed at enhancing the capital market. He emphasised that a majority of these areas need reform to attain the market in a sustainable, long-term formula.
DSE proposals
The Dhaka bourse proposed reforms in three key segments: total proposals, technology-linked proposals, and regulatory compliance and governance.
The DSE proposed bringing extra quality IPOs from infamous native conglomerates and making compulsory listing provisions of firm companies (MNCs) to the country’s capital market.
The diversified proposal integrated enhancing cooperation with stakeholders between regulators and industry stakeholders, public-private partnerships, worldwide cooperation.
Coordination among basically the major regulators with the Bangladesh Bank, the National Board of Income and the Ministry of Finance to make sure national protection make stronger got here as one more proposal.
The DSE emphasised digital transformation and fintech solutions, automation of compliance and distress administration, computerized procuring and selling platforms and efficiency, and enhanced market files services and products.
On the diversified hand, the Chattogram bourse proposed several reforms, together with streamlining and accelerating the present IPO route of, conserving aside the institutional market from the retail market, and introducing diversified regulatory amendments to enhance the capital market.
Extra assembly
The BSEC will lend a hand a same assembly nowadays (1 October) with diversified industry associations, together with the DSE Brokers Association, Bangladesh Merchant Bankers Association, Association of Asset Management Companies and Mutual Funds, Association of Credit score Ranking Companies of Bangladesh, Bangladesh Association of Publicly Listed Companies, Monetary Reporting Council, and the Institute of Chartered Accountants of Bangladesh (ICAB), to talk about comprehensive reforms for the capital market.
