The Bangladesh Nationalist Party (BNP) has pledged to develop the Bangladesh Securities and Exchange Commission (BSEC) as an independent and autonomous institution for greater transparency and accountability.
Unveiling the party's election manifesto on Friday, BNP Chairman Tarique Rahman also pledged to bring back good governance, strengthen institutional capacity, and formulate investment-friendly tax policies to encourage stock market investment.
He said qualified, honest, and skilled individuals would be appointed as the chairman and commissioners at the BSEC if his party was voted to power in the next election scheduled for February 12.
The BNP chairman also promised to take effective measures to increase foreign portfolio investment in the capital market.
"A foreign portfolio investment (FPI) on a boarding portal will be launched for foreign investors, and relevant provisions will be aligned with international standards to attract foreign capital," said Tarique while unveiling the manifesto.
He said a capital market reform commission would be formed.
Additionally, a special investigation commission would be formed to investigate the irregularities of the past 15 years. It would take punitive measures against those involved in the irregularities and fraud in the capital market, he said.
Strong and effective legal measures would be taken against market manipulation to stop such practice, he further said.
By effectively resolving the existing problems in the stock market, a strong bond market would be developed in the country, he said.
"The BNP's goal is to democratise investment and create opportunities for wealth creation for all," he also said.
The BNP chairman said the small and medium enterprise (SME) market would be strengthened, and the corporate bond market would be expanded. Exchange-traded funds (ETFs) and green bonds would be launched gradually, he said.
"Green Bangladesh bonds worth Tk 500 billion will be issued by 2030 for climate projects," he said.
The BNP leader said access to the stock market would be made easier from all places in Bangladesh through complete digitisation.
Moreover, a digital initial public offering (IPO) express system would be launched for start-ups and the SME sector with listing facilities within 30 days through a faster and easier process, he said.
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