Dhaka Stock Exchange chairman Mominul Islam on Saturday said that the stock market was expected to gain momentum by June, as ongoing reforms would boost investor confidence.
鈥楾he DSE is prioritising four key actions to restore trust in the stock market,鈥� Mominul said during 鈥楥MJF Talk鈥� event organised by Capital Market Journalists Forum on the day.
The steps included securing separate tax incentives for the stock market from the government, bringing high-quality domestic and foreign companies to the market swiftly, permanently resolving the issue of negative equity for lending institutions and implementing effective steps to prevent insider trading and market manipulation.
He assured that some changes would become apparent over the next few months.
The DSE chairman explained that a task force was working to address long-standing issues of irregularities and corruption in the capital market.
鈥楾his will establish long-term credibility in the market. There will be no room for unfair advantages and investor confidence will return,鈥� he stated.
Mominul strongly reiterated the DSE鈥檚 stance on insider trading, declaring, 鈥榃e have zero tolerance for insider trading.鈥�
Highlighting the challenges faced by the market, he noted that Bangladesh鈥檚 stock market had been stagnant for the past 15 years, while other countries had seen significant growth during the same period.
However, he emphasised that all stakeholders in the country were now working together to advance the market.
鈥楾he results of the long-term plan will take time. The foundation work is critical, but often invisible from the outside. Once it is complete, people will start seeing the construction above ground. The real effort happens during this foundation phase,鈥� Mominul explained.
He underscored that the DSE did not want to artificially inflate the market or rely on shortcuts.
鈥極ur goal is to strengthen the stock exchange鈥檚 foundation by ensuring transparency, accountability and professionalism across all areas. The exchanges have not yet fulfilled their potential role in the market,鈥� he admitted.
The DSE chairman stressed that investor trust was vital for the market鈥檚 success. 鈥業f we fail to maintain the trust of investors, everything else will collapse. That is why we are focusing on immediate measures while working on long-term strategies,鈥� he said.
