Govt forms panel to strengthen BSEC, develop capital mkt

The government has formed a four-member panel to strengthen the Bangladesh Securities and Exchange Commission (BSEC) and develop the country's capital market.

The Financial Institutions Division (FID) issued a notification on Tuesday announcing the committee's formation.

The panel will be led by Anisuzzaman Chowdhury, special assistant to the chief adviser, while BSEC Commissioner Farzana Lalarukh will serve as its member-secretary. Other members include Prof M Sadiqul Islam, a faculty member of the finance department at the University of Dhaka, and an additional secretary from the insurance and capital market department of the FID.

The committee was formed in response to a request from the BSEC for the FID to investigate an incident of chaos on March 5, when BSEC officials confined the commission's chairman and commissioners to press home their demands.

According to the notification, the committee will recommend strategies to strengthen the regulatory and monitoring functions of the stock market, attract investment, and stabilise the market. Special attention will be given to boosting the appeal of expatriate bonds.

The panel will also provide suggestions to increase market liquidity, improve corporate governance, and create a favourable environment for new companies to list on the stock market.

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