The ‘Capital Market Reform Task Force‘ will hold a meeting with DSE Brokers Association of Bangladesh (DBA), an organization of brokerage houses, with the aim of improving the overall development of the country’s capital market, increasing investors’ confidence and ensuring good governance of international standards.
The meeting will be held on Monday (October 21) at 11 o’clock at the Securities Commission building in Agargaon of the capital. This will be their first formal meeting with the capital market stakeholders after the formation of the task force.
DSE Brokers Association of Bangladesh (DBA) President Saiful Islam confirmed this information to RisingBD on Sunday (October 20). He said the Task Force on Capital Market Reforms has called the DBA for an introductory meeting. No agenda has been fixed for this meeting. The overall situation of the capital market may be discussed in the meeting. DSE’s first task force on capital market reforms after the political pot change made recommendations. In that light, the task force formed on capital market reform will meet with us.
Before this, on September 15, Finance Advisor at the Ministry of Finance. In a letter signed by DBA president Saiful Islam to Salehuddin Ahmed, DBA recommended several issues including the formation of a task force for the development and development of the capital market.
In view of this, the ‘Capital Market Reform Task Force’ was formed by the order signed by Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandkar Rashed Maksud on October 7. The members of the task force formed in capital market reform are – Professor of Economics Department of Dhaka University. Mohammad Helal Uddin, Former Managing Director of Dhaka Stock Exchange PLC KAM Majedur Rahman, Senior Partner of Huda Vasi Chowdhury & Co. AFM Nesar Uddin, Professor of CSE Department of Bangladesh University of Engineering. Md. Mostafa Akbar and Associate Professor Al-Amin of Dhaka University Accounting Information System Department.
The formed task force will consider the opinions of all parties related to the capital market and hand over the report (reviewing the existing structure and proposing necessary amendments, providing recommendations for promotion of international standards in applicable cases) to the BSEC in due course. In particular, the task force will analyze the main key aspects with special emphasis on restoring good governance and confidence in the capital market and formulate necessary reform plans and recommendations for implementation.
Bangladesh Securities and Exchange Commission and all institutions related to the capital market, such as DSE, CSE, CDBL, CCBL, market intermediary institutions and other parties will provide all kinds of cooperation including providing necessary information and data as per the demand of the task force. Later, the Commission may include appropriate persons as members of the Task Force if necessary. Bangladesh Securities and Exchange Commission will provide secretarial support to this task force.
There will be various issue-based focus groups under the task force. Each focus group will work on specific issues and make recommendations to the task force on related issues. Note that the Task Force will constitute a focus group consisting of appropriate person or persons after informing the Commission.
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