Stock market stakeholders on Monday demanded reforming regulatory framework, ensuring regulatory compliance and bringing good performing companies to the market.
They made the demand at a meeting with the Bangladesh Securities and Exchange Commission, according to a BSEC press release.
The commission held the meeting with representatives of multiple stakeholders with the aim of preparing a roadmap to reform the capital market.
The stakeholders proposed that the stock market regulator should ensure institutional good governance, take effective steps to improve the market and its products and diversify the market.
The first round of discussions featured a session with representatives of the country鈥檚 two stock exchanges 鈥� Dhaka Stock Exchange and Chittagong Stock Exchange, Central Depository Bangladesh Limited, Central Counterparty Bangladesh Limited, Bangladesh Institute of Capital Market, Bangladesh Academy for Securities Market and Capital Market Stabilisation Fund.
The stakeholders also submitted proposals for development and modernisation of the market and the regulator, expansion and scope of investment education, increasing the awareness of investors, strengthening education and training programmes to increase the capacity of professionals working in the stock market.
In the meeting, the BSEC and the stock market-related institutions agreed to work together as partners for the development of the stock market of the country.
Senior BSEC officials, including its chairman Khondoker Rashed Maqsood and three of its commissioners, were present in the meeting.
This move from the BSEC came following criticisms for ignoring the stakeholders鈥� calls to hold meetings between the parties to discuss issues related to the market.
The stock market regulator went through a major reshuffle following the fall of Awami League government amid a student-led mass uprising on August 5.
Shibli Rubayat-Ul Islam resigned as BSEC chairman on August 11.
Khondoker Rashed Maqsood was on August 18 appointed as chairman of the BSEC for a four-year term.
The BSEC also got three new commissions following the resignation of three commissions who were members of the Shibli-led commission.
After the ouster of Awami League government, the DSE witnessed a surge of almost 800 points in its key index, DSEX, in the first few days.
But the Dhaka bourse started going back into a volatile state soon after and continued the bearish vibe till Monday.