Dhaka Stock Exchange (DSE) Chairman Mominul Islam expressed optimism about the future of Bangladesh’s capital market, despite its long-standing struggles with irregularities and neglect. He believes there’s a glimmer of hope for the market, which hasn’t developed in line with the country’s economic growth.
Islam made these remarks during a historic meeting on Thursday, September 17, with the Bangladesh Association of Public Listed Companies (BAPLC), led by its President, Rupali Haque Chowdhury. This was the first formal meeting between the DSE board and the largest organization of listed companies, which Islam hailed as a significant step forward.
He acknowledged that the capital market has been “crippled and shrunken” due to years of mismanagement but noted that recent government initiatives offer a positive outlook. Key developments include the appointment of Dr. Anisuzzaman as a special assistant to the Chief Adviser (with the status of State Minister) to oversee capital market issues, and several positive changes for the market in the latest budget.
Islam emphasized that the Bangladesh Securities and Exchange Commission (BSEC) and all other stakeholders are working sincerely to restore discipline. Additionally, a task force is actively working on a new regulatory framework.
“We at the Dhaka Stock Exchange are also striving for positive change,” Islam stated. “We are trying to simplify the IPO process.”
He added that DSE is advocating on behalf of listed companies to regulators regarding post-listing compliance issues.
BAPLC President Rupali Haque Chowdhury underscored her organization’s commitment to protecting the interests of listed companies while ensuring market transparency and good governance. She believes a coordinated effort with the DSE will make the capital market more organized and dynamic.
Chowdhury highlighted the need to focus on solutions rather than problems. “We need to make our country’s capital market much bigger,” she said. “We can discuss what needs to be done to achieve this.”
She proposed bringing in small companies with new ideas and business plans to the market, which would boost trade and commerce. Simultaneously, she called for simplifying compliance procedures for existing listed companies.
The meeting’s discussion covered a wide range of issues, including:
- Transparency and efficiency of the listing process
- Compliance and governance frameworks
- Tax structures
- Delays in the IPO process and proper valuation
- Introducing a “green channel” for listing qualified and high-quality companies
- Coordination among regulators
- Discrepancies in minimum tax between listed and unlisted companies
DSE Chairman Islam concluded the meeting on a positive note, stating that a revised IPO system would help attract quality companies and filter out bad ones. He added that the “green channel” and digitization would enable DSE to approve IPOs more quickly.
Both sides agreed that a strong, transparent, and sustainable capital market in Bangladesh can only be built through constructive cooperation. The DSE pledged to continue its collaboration with BAPLC to strengthen the market, boost investor confidence, and create new growth opportunities for the national economy.
