Prime Minister Tarique Rahman on Wednesday said the government is firmly committed to restoring investor confidence in the country’s capital market, outlining a 17-point priority programme aimed at ensuring stability and sustainable growth.
He made the remarks during the question-and-answer session in Parliament in response to a starred question from lawmaker SK Azizul Bari of Khulna-4, which was placed by ABM Mosharraf Hossain of Patuakhali-4 in the member’s absence.
Highlighting the government’s initiatives, the Prime Minister said steps have already been taken to build a developed and sustainable capital market through good governance, transparency, accountability, product diversification, and expansion of investor education.
Addressing the Speaker, he noted that recent media reports indicate gradual improvement in market conditions. “If you observe yesterday’s or today’s media, you will see that the capital market is slowly improving,” he said.
As part of the 17-point programme, the government has appointed an experienced chairman and three commissioners to the Bangladesh Securities and Exchange Commission (BSEC) to strengthen governance. The removal of the floor price after the new commission assumed office was also highlighted as a key step.
The programme further includes encouraging the listing of profitable state-owned enterprises and large multinational companies, facilitating the entry of fundamentally strong firms including SMEs, and ensuring better auditing standards for listed companies and intermediaries.
Other measures include launching a foreign portfolio investment onboarding portal, reforming regulations in line with international standards, introducing one-stop securities custodian services, reducing capital gains tax, eliminating double taxation on dividend income, and digitising BO account opening and capital repatriation processes.
The government also plans to introduce legal provisions for filing cases directly in special tribunals, form a capital market reform commission and a special investigation body, and expand market operations through blockchain technology. Additionally, online and mobile-based trading through e-KYC, investor-friendly tax policies, and banking and mobile financial services integration for fund transfers are being implemented.
The Prime Minister said AI-based surveillance systems are being used to detect irregularities and fraud, while stricter corporate governance measures are being enforced. He added that legal reforms are underway to better protect investors’ assets and that trading of government securities such as treasury bonds, bills, and sukuk will be facilitated through stock exchanges to broaden participation.
Referring to past market downturns during the tenure of the Awami League government, he said investigations by experts and agencies identified key causes, including market manipulation, irregularities in IPOs and bonds, weak regulatory oversight, lack of transparency, limited institutional participation, and inconsistent policies.
He added that the government plans to identify those responsible for market scams and take legal action. Investigations by the Anti-Corruption Commission (ACC) have already led to cases against several individuals. So far, the BSEC has imposed fines amounting to Tk 1,497 crore against entities and individuals involved in irregularities.
Responding to a supplementary question, the Prime Minister said efforts are also underway to strengthen the Chittagong Stock Exchange alongside the Dhaka Stock Exchange to reduce disparities and ensure balanced development of the capital market.
On allegations of irregularities in insurance companies, he said the Insurance Development and Regulatory Authority (IDRA) has already initiated investigations, and legal action will be taken upon completion of the inquiries.
