BSEC needs autonomy like central bank: Anisuzzaman

Chief Adviser’s Special Assistant Anisuzzaman Chowdhury on Wednesday stressed the need for ensuring operational autonomy of the Bangladesh Securities and Exchange Commission (BSEC) to strengthen its role as the capital market regulator as enjoyed by the central bank.

“If Bangladesh Bank can enjoy autonomy, then BSEC should too,” he said while addressing the BSEC’s monthly coordination meeting with capital market stakeholders.

Anisuzzaman said all stakeholders must work collectively and move beyond traditional mindsets to build a stronger and more resilient capital market. “We must act in the collective interest of all stakeholders in the market. Upholding integrity and democratic practices is essential. Every decision should be guided by market realities and proper coordination.”

He also directed that the registration of Central Counterparty Bangladesh Limited (CCBL) be completed and the entity made operational within December this year.

BSEC Chairman Khondoker Rashed Maqsood informed the meeting that three major regulatory frameworks — The Margin Rules 2025, The Mutual Fund Rules 2025, and The Public Offer of Equity Securities Rules 2025 — are at the final stage of completion.

 “These rules will be gazetted soon. There’s no reason for concern, as we have revised the new margin rules after an in-depth review and in consultation with all stakeholders,” he said, assuring participants that a transition period of six months to one year will be allowed for necessary adjustments once the new rules come into effect.

During the meeting, participants discussed the progress of ongoing reform initiatives and emphasised modernising surveillance mechanisms, upgrading market infrastructure, shortening the settlement cycle, introducing transaction facilities on record dates, implementing scrip netting and expediting the launch of the commodity exchange and futures market.

They also called for strengthening BSEC’s institutional independence, enhancing API connectivity among market entities, ensuring robust cybersecurity, and bringing state-owned enterprises, large local companies, and multinational firms to the stock market through accelerated IPO reforms.

Other key recommendations included encouraging new company listings through joint initiatives by DSE and ICB, improving corporate governance, resolving negative equity issues, and finalising CCBL’s phased operational plan.