The Dhaka Stock Exchange PLC on Sunday congratulated newly appointed Bangladesh Securities and Exchange Commission Chairman (BSEC) Masud Khan and three newly appointed commissioners, pledging full cooperation in carrying out meaningful capital market reforms.
A DSE board delegation led by Chairman Mominul Islam called on the new BSEC leadership at the commission's office and greeted them with floral bouquets.
BSEC Chairman Masud Khan said the commission has begun work with a clear action plan to make the capital market more effective, dynamic and investment-friendly. “Our primary goal will be to build a simple, transparent and effective regulatory framework by reducing unnecessary complexities.”
He said the commission will review recently enacted rules on IPOs, margin loans and mutual funds and take steps to amend them where necessary. “Full digitalisation of capital market operations and making the IPO process faster, more transparent and internationally competitive are also among the priorities.”
DSE Chairman Mominul Islam said the board and management are fully prepared to support the implementation of fundamental capital market reforms.
He stressed the need to enhance capacity in IPO valuation and market surveillance, and called for adopting a risk-based regulatory approach.
DSE Director Syeda Zakerin Bakht Nasir said effective development of the capital market requires a clear division of responsibilities and authority between BSEC and DSE, along with stronger coordination and improved decision-implementation processes.
Director Snehasish Barua called for greater accountability, efficiency and faster decision-making in IPO and rights issue processes, urging all stakeholders to play a more responsible role in protecting investor interests.
Director Richard D'Rozario highlighted the need to reassess the share category system, introduce a modern settlement mechanism and enforce the delisting process more seriously.
Director Minhaj Mannan Emon stressed the importance of strengthening the stock exchange's role in preventing irregularities in the brokerage sector and protecting investor interests in the IPO process.
He expressed confidence in the new BSEC leadership and assured DSE's full cooperation in building a transparent, modern and investor-friendly market.
DSE Managing Director Nuzhat Anwar said the exchange is making necessary preparations for introducing script netting and T+1 settlement, and is working in coordination with BSEC and Bangladesh Bank on the matter.