2024-08-31 03:17:37
Capital market is upside down
Published: 11:09, 29 August 2024 Updated: 11:10, 29 August 2024
Bangladesh Securities and Exchange Commission (BSEC)’s proposal to sign MoU with National Telecommunication Monitoring Center (NTMC) has been cancelled. At the same time, BSEC has decided to withdraw the letter sent to the Financial Institutions Department.
This decision was taken in the 916th commission meeting held on Wednesday (February 14) under the chairmanship of BSEC Chairman Khandkar Rashed Maqsood. This information was informed through a press release signed by BSEC Director and Spokesperson Farhana Farooqui.
It is mentioned in the notification that the decision was taken to withdraw the letter sent by BSEC to the Financial Institutions Department along with the cancellation of the proposal to sign the MoU with the National Telecommunication Monitoring Center (NTMC).
The newly resigned chairman of the regulatory body BSEC, Professor Shibli Rubaiyat-ul-Islam, took this initiative to secretly investigate the personal activities of the capital market investors or BO account holders. For this purpose, the then commission tried to enter into a compromise agreement with NTMC. If this plan is implemented, NTMC officials will have the power to record online activities and voice calls of investors. The Shibli Commission chose this path to identify those involved in destabilizing the market through manipulation and to bring insider trading and rumour-mongering people under the law.
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