The Bangladesh Securities and Exchange Commission on Sunday said that it would upgrade its the surveillance system for a better monitoring of the market and the commission sought support from the World Bank to improve the system.
At a briefing at the BSEC office in the capital Dhaka, the stock market regulatory body made the statement after a views exchange with representatives of the World Bank.
The BSEC said that the current surveillance technology of the commission was weak and outdated as the software and technology had not been renewed in the past 12 years.
BSEC chairman Khondoker Rashed Maqsood said, 鈥榃e discussed specific issues, including technical assistance. We emphasised improving the existing surveillance team. We also discussed governance, and how to develop our own ERP and IT infrastructure.鈥�
Farzana Lalarukh, commissioner of the BSEC, said that the commission requested the World Bank for all kinds of support, including technology, to ensure better surveillance.
Stating that the BSEC鈥檚 surveillance is very weak, Farzana said, 鈥榃e have been working with a weak surveillance since taking charge in September.鈥�
鈥楾he surveillance software here was installed in 2012, and has not been upgraded after that year. We are working to take it to a global standard as soon as possible. We have asked for their help, including technical and other kinds of assistance towards achieving that goal.鈥�
鈥榃e will ensure our own accountability first. Then we will go for ensuring accountability of all remaining sectors,鈥� she said.
Rashed Maqsood faced questions about the restrictions on accessing the BSEC premises by journalists.
He said that similar to all organisations, journalists can access the BSEC premises following some certain steps.
Asked about what kind of steps journalists would need to follow, BSEC commissioner Ali Akbar said, 鈥楾here is a registrar book at the entry point of the office, sign there, give information whom you are visiting, and then enter.鈥�
Rashed Maqsood added that they would sit to discuss the issue later this week.
