Brokers association demands task force for capital market reforms

The Dhaka Stock Exchange (DSE) Brokers Association (DBA) has demanded a task force to reform and develop good governance in the capital market.

The DBA wrote a letter to Finance Adviser Salehuddin Ahmed in this regard today (15 September), signed by DBA President Saiful Islam.

According to DBA, the DSE has been operating in the capital market for almost 70 years. On the other hand, the Bangladesh Securities and Exchange Commission (BSEC) was established in 1992-1993 and has been serving as the main regulatory body in the same sector for more than 30 years.

Bangladesh's capital market is far from a source of capital formation and a sector of employment creation considering the goals, tenure, tradition, and role of these two organisations, the DBA said.

"The sad thing is that even after this long time, our capital market has not yet developed as an industry, business sector, and a general sustainable income sector," reads the letter.

According to stock brokers, the interim government has formed several task forces for reforms in the banking, economy, constitution, and other sectors.

"We expect the interim government to soon constitute a task force for reforming the capital market sector with a view to the development and progress of a large sector like the capital market, following its objectives and policies," reads DBA letter to the finance adviser.