Dhaka Stock Exchange Chairman Mominul Islam on Saturday emphasized the need for reforms to stabilize the capital market.
He was speaking at a discussion titled “Bangladesh’s Capital Market: Current Scenario and Future Action Plans,” organized by the DSE Brokers Association of Bangladesh at Dhaka Club on the day.
Mominul Islam said that the market should be reformed to stabilize it, adding: “We will also focus on that.”
He also said that the premier bourse had been working to address lack of transparency.
Enhancing DSE’s human resources and technical capabilities is essential and will be undertaken soon, he added.
“We also recognize a lack of transparency in certain areas, which we aim to address,” he remarked.
He further noted that some adjustments are required in processes related to initial public offerings, funds and bonds.
“We plan to collaborate with the Bangladesh Securities and Exchange Commission and the government on these necessary reforms,” he added.
Highlighting the interdependence of financial markets, he said: “We cannot view the capital market as an isolated entity; it is one of the finest constructs of our monetary economy.”
“Unfortunately, we have turned this creation into a miscreation, a reflection of broader economic, political and social challenges, including corruption, impunity, inefficiency and poor decision-making — factors that have contributed to the current state of our capital market,” he said.
Mominul criticized the over-reliance on banks, saying: “Excessive dependence on banks has not only weakened them but has also damaged our economy. We need to move away from this reliance.”
Addressing tax issues, he mentioned: “We are in discussions with the National Board of Revenue to develop a tax policy that benefits both the market and ensures increased revenue for the NBR, creating a market-friendly approach.”
The event was chaired by DBA President Saiful Islam and attended by senior journalists and other market stakeholders.
