BSEC celebrates silver jubilee tomorrow

FE Report | Published: September 11, 2018 10:21:18 | Updated: September 13, 2018 12:01:43


The Bangladesh Securities and Exchange Commission (BSEC) will celebrate its silver jubilee tomorrow (Wednesday) through a series of programmes.

Prime Minister Sheikh Hasina is scheduled to attend the inaugural session as the chief guest at Bangabandhu International Conference Centre (BICC) in the city.

Finance Minister AMA Muhith, Jatiya Sangsad Speaker Shirin Sharmin Chaudhury, ministers, members of parliament, secretaries, high officials, chiefs of different institutions and stakeholders of the capital market will also attend the programme.

To mark its 25 years of anniversary, the securities regulator will arrange discussions, seminars and reunion of BSEC officials during the five-day event in Dhaka and Chittagong.

The BSEC chalked out its programmes at a press conference on Monday.

BSEC executive directors Farhad Ahmed, Mohammad Saifur Rahman and Anowarul Islam were present at the press briefing.

In reply to a query, Mr Farhad mentioned the establishment of Central Depository Bangladesh Ltd (CDBL) and the special tribunal on capital market, automation and demutualisation of stock exchanges, and introduction of corporate governance code, among others, as successes of the regulatory body in last 25 five years.

Replying to another question about stock market crashes in 1996 and 2010, he said debacles also took place in the stock markets of other countries.

"Problems will exist until the size of the market is increased sufficiently."

Mr Farhad said the securities regulator took many actions as per the probe report on the 2010 stock market debacle.

BSEC executive director Mohammad Saifur Rahman said the securities regulator had no any weapon like surveillance software to contain market manipulations.

"Now we have surveillance software and the securities regulator continues its efforts to further develop the market," he said.

The BSEC executive directors also said many family-oriented companies are unwilling to go public as they fear to lose supremacy despite availability of many incentives for listed companies.

The BSEC was established on June 08, 1993 as the regulator of the country's capital market through enactment of the Securities and Exchange Commission Act-1993.

Through an amendment to the Securities and Exchange Commission Act-1993 on December 10 in 2012, the Securities and Exchange Commission was renamed Bangladesh Securities and Exchange Commission.

mufazzal.fe@gmail.com

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