Foreign experts to be brought in for reforming stock market; report submission within three months | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 14, 2025
Foreign experts to be brought in for reforming stock market; report submission within three months

Stocks

TBS Report
11 May, 2025, 04:50 pm
Last modified: 11 May, 2025, 07:55 pm

Related News

  • Dhaka markets sluggish post-Eid: Chicken, vegetable prices fall
  • People won't accept election date before July Charter is implemented: NCP on Yunus-Tarique meeting
  • CA Yunus discusses economic recovery, Rohingya education with ex-British PM Gordon Brown
  • At least 17 children drowned across country in three days
  • Three children drown in ponds within an hour in Kutubdia

Foreign experts to be brought in for reforming stock market; report submission within three months

“Many vested interests exist within the stock market. Even when reform initiatives are taken, they are often obstructed by these groups. To counter this resistance, a team of foreign experts—free from any local conflicts of interest—will be engaged," said press secretary Shafiqul

TBS Report
11 May, 2025, 04:50 pm
Last modified: 11 May, 2025, 07:55 pm
Representational image. Photo: Mehedi Hasan/TBS
Representational image. Photo: Mehedi Hasan/TBS

In a bid to reform the stock market effectively, the government has decided to bring in a team of foreign experts. These experts, with no vested interest in Bangladesh's capital market, will be tasked with delivering actionable reform recommendations within three months.

The decision was made at a high-level meeting chaired by Chief Adviser Muhammad Yunus today (11 May), Press Secretary Shafiqul Alam said at a press briefing after the meeting.

The meeting was attended by Finance Adviser Salehuddin Ahmed, Special Assistant to the Chief Adviser Anisuzzaman Chowdhury, BSEC Chairman Khondoker Rashed Maqsood, and Secretary of the Financial Institutions Division Nazma Mobarek.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

At the start of the meeting, BSEC Chairman Maqsood gave a brief presentation outlining the progress and reform measures taken in the stock market over the past nine months.

Based on the discussion, the CA issued five key directives aimed at revitalising and modernising the market.

"Many vested interests exist within the stock market," Press Secretary Shafiqul said at the briefing.

"Even when reform initiatives are taken, they are often obstructed by these groups. To counter this resistance, a team of foreign experts—free from any local conflicts of interest—will be engaged. They will propose ways to modernise the market and protect investors and stakeholders, with a report due within three months," he added.

Ex-BSEC says CA directives not readily implementable

Faruq Ahmad Siddiqi, former chairman of the Bangladesh Securities and Exchange Commission (BSEC), told The Business Standard that none of the directives given by the Chief Adviser are immediately implementable. 

"However, since he has chaired the meeting as the head of the government and issued some guidance, it could help restore a degree of investor confidence," he said.

Commenting on the meeting participants, Siddiqi noted that no representatives from market intermediaries or stakeholders were invited. 

"The chief adviser only heard from BSEC. He didn't get to know what market participants want or what problems they are facing. As a result, the meeting was one-sided. If he had listened to both stakeholders and intermediaries, he would have gained a more complete picture of the stock market. That would have helped him make more informed decisions."

On the issue of listing government-owned and multinational companies, Siddiqi pointed out, "This discussion has been ongoing for over 15 years, but we haven't seen effective action. It's not possible to list these companies overnight simply on the Chief Adviser's directive. However, visible steps must be taken as soon as possible to set an example."

Regarding the idea of bringing in foreign experts for market reforms, he commented, "On paper, Bangladesh is classified as an emerging market, but in reality, it functions more like a frontier market, which has its own unique challenges. 

Experts from Wall Street or developed markets may not understand these complexities. It would be more effective to engage professionals who have prior experience working with emerging or frontier markets.

Earlier, on 7 October last year, the new commission under the interim government formed a task force to get recommendations for the needed reforms in the capital market.

Dhaka University professor of economics Mohammed Helal Uddin, Dhaka Stock Exchange's former managing director KAM Majedur Rahman, former president of the Institute of Chartered Accountants of Bangladesh AF Nesaruddin, BUET professor of computer science and engineering Md Mostofa Akbar and Dhaka University associate professor of accounting and information system Al-Amin have been made the taskforce members.

Later, in January, a 10-member 'Capital Market Reforms Focus Group' was formed with the aim of ensuring overall development of the stock market, increasing investors' confidence and good governance of international standards.

On 18 March, the government established a high-level four-member committee to strengthen the BSEC and foster the development of the country's capital market.

The committee, led by Anisuzzaman Chowdhury, while the other members are Professor M Sadiqul Islam of Dhaka University's Department of Finance and the additional secretary of the FID, with BSEC Commissioner Farzana Lalarukh serving as the member secretary.

However, market intermediaries have alleged that members of the task force and focus groups have vested interests in the stock market. They have criticised the decision to form a reform committee with such individuals.

Bangladesh / Top News

foreign experts / Bangladesh / Stock market reform

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Missiles launched from Iran are intercepted as seen from Tel Aviv. REUTERS/Jamal Awad
    Iran fires missiles at Israel in response to attacks; Trump says it's not too late for nuclear deal
  • Logo of National Citizen Party (NCP)
    People won't accept election date before July Charter is implemented: NCP on Yunus-Tarique meeting
  • Yunus-Tarique meeting: Jamaat says outcome positive for democracy, IAB says dispelled uncertainty from politics
    Yunus-Tarique meeting: Jamaat says outcome positive for democracy, IAB says dispelled uncertainty from politics

MOST VIEWED

  • Wreckage of a Boeing 787 Dreamliner showing part of its registration "VT-ANB" in Ahmedabad, India, June 12, 2025. REUTERS/Amit Dave
    Air India Dreamliner crashes into Ahmedabad college hostel, kills over 290
  • File Photo of Chief Adviser Muhammad Yunus: UNB
    Prof Yunus to receive Harmony Award from King Charles today
  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Bangladesh mulls settlements with tycoons over offshore wealth: BB governor tells FT
  • UCB declares no dividend for 2024 to comply with regulatory requirement
    UCB declares no dividend for 2024 to comply with regulatory requirement
  • UK Prime Minister Keir Starmer, Chief Adviser Muhammad Yunus
    Disclosure of unconfirmed Yunus-Starmer meeting shows ‘diplomatic imprudence’: Analysts

Related News

  • Dhaka markets sluggish post-Eid: Chicken, vegetable prices fall
  • People won't accept election date before July Charter is implemented: NCP on Yunus-Tarique meeting
  • CA Yunus discusses economic recovery, Rohingya education with ex-British PM Gordon Brown
  • At least 17 children drowned across country in three days
  • Three children drown in ponds within an hour in Kutubdia

Features

Photos: Collected

Kurtis that make a great office wear

13h | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

2d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

3d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

4d | Features

More Videos from TBS

No Cash in ATMs: System Glitch or Something Deeper?

No Cash in ATMs: System Glitch or Something Deeper?

7h | TBS Today
Iran-Israel military power; who is ahead?

Iran-Israel military power; who is ahead?

9h | TBS World
Did the possibility of an Iran nuclear deal set back after the attack?

Did the possibility of an Iran nuclear deal set back after the attack?

10h | TBS World
IRGC chief Major General Hossein Salami killed in Israeli strike

IRGC chief Major General Hossein Salami killed in Israeli strike

12h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net