Finance Minister Amir Khosru Mahmud Chowdhury today told the parliament that the government has restored investors’ confidence in the capital market through wide-ranging reforms, transparent regulatory measures, and strict action against market manipulation.
Reforms and Regulatory Measures
The minister highlighted that the newly reconstituted Bangladesh Securities and Exchange Commission (BSEC) has begun delivering visible results, with the stock market maintaining an upward trend over the past two months. The BSEC, now comprising a chairman and three commissioners, has been instrumental in this transformation.
Transparent Appointments and Professionalism
Chowdhury assured the House that the appointments to the BSEC were made transparently, with none of the present commissioners appointed on political considerations. All commissioners are highly experienced professionals with extensive exposure to both domestic and international capital markets.
Actions Against Manipulation
The minister referred to the government’s drive against stock market manipulation during the previous regime. Punitive actions have been initiated against individuals and institutions involved in irregularities and market manipulation, with details of disciplinary measures published on the BSEC website.
International Interest and Future Prospects
Chowdhury expressed optimism that the government’s reform initiatives would establish Bangladesh’s capital market as a transparent, accountable, and internationally recognized investment destination. International fund managers from leading global financial centers are showing renewed interest in Bangladesh’s capital market.
Tax Reforms for Broader Tax Net
In addition to capital market reforms, the government has undertaken a comprehensive program to expand the country’s tax net. The National Board of Revenue (NBR) is identifying the market share of companies to make taxation more equitable. A simplified flat-rate tax system is being introduced to bring individuals and small businesses under formal taxation.
