BSEC needs autonomy: Anisuzzaman
He made the remarks during a monthly coordination meeting organised by the BSEC with its stakeholders in Dhaka’s Agargaon today (22 October)
Anisuzzaman Chowdhury, special assistant to the chief adviser, has said that the Bangladesh Securities and Exchange Commission (BSEC), the country's capital market regulator, should enjoy the same level of autonomy as the Bangladesh Bank.
He made the remarks during a monthly coordination meeting organised by the BSEC with its stakeholders in Dhaka's Agargaon today (22 October), where representatives from all sectors of the capital market were present, according to a press release issued by the commission.
Anisuzzaman, who also chairs a committee under the finance ministry's Financial Institutions Division tasked with strengthening the BSEC's authority and promoting capital market development, emphasised the importance of institutional independence for effective regulation.
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Calling for a shift in mindset and greater practice of democracy, integrity, and collaboration, he urged all market participants to work together to ensure coordination and dynamism in the country's capital market.
Speaking at the meeting, BSEC Chairman Khondoker Rashed Maqsood outlined the commission's ongoing reform and development initiatives.
"The work on the margin rules, mutual fund rules, and public issue rules is in its final stage," he said. "These will be completed soon, which will mark a significant milestone in the legal reform of the capital market."
Addressing concerns about the upcoming margin rules, Maqsood assured stakeholders that the revisions had been made after a detailed analysis and extensive consultation with market participants.
"There is no need for concern over the rules," he noted. "Even after they come into effect, there will be a minimum adjustment period of six months to one year, wherever necessary."
The BSEC chairman reiterated the commission's commitment to ensuring investor protection and sustainable market development. He thanked stakeholders for their valuable opinions, suggestions, and recommendations, assuring them that the regulator would consider these in implementing the forthcoming reforms.
