Special Correspondent : Reform efforts have already begun in the country’s capital market. The market is expected to regain momentum by June due to reforms that are currently underway, Dhaka Stock Exchange (DSE) Chairman Mominul Islam said on Saturday.
Addressing an event yesterday, he said, While not all reforms will be completed by June, some will be implemented, helping to restore investor confidence.
The Capital Market Journalists' Forum (CMJF) organised the event "CMJF Talk" at the CMJF auditorium in the capital's Purana Paltan.
CMJF President Golam Samdani Bhuiyan delivered the welcome address at the event moderated by its General Secretary Abu Ali.
DSE Chairman said long-term credibility will be established in the capital market. There will be no unfair concessions, and investor confidence will return.
Mominul also noted that the stock market in Bangladesh is currently very narrow and has lagged significantly over the past 15 years, whereas stock markets in other countries have progressed during the same period. However, all stakeholders in the country are now working positively to advance Bangladesh's stock market.
"We are already moving forward with both long-term and short-term plans," he said.
"It will take time to see the results of the long-term plan. It is like laying the foundation of a building—it remains invisible from the outside, even though it is the most critical part. Once the foundation is complete, everyone will see the construction of the building above it. The real work happens during the foundation phase."
The DSE chairman emphasized that maintaining investor trust is essential, stating, "Everything will fail if we cannot maintain the trust of investors. That is why we are focusing on short-term plans."
He highlighted four key priorities, including bringing good companies to the market in the short term, resolving the issue of negative equity, advocating for tax reforms in fiscal policy, and eliminating insider trading and market manipulation.
"We have zero tolerance for insider trading," he asserted.
The DSE chairman told reporters that we want to be strict with companies that go bad after being listed on the stock market due to irregularities or their own mistakes without any logical reason. Work is underway to amend the delisting policy so that such companies do not receive any government benefits, new business opportunities, or bank loans.
Noting that some companies have been listed on the bourse that were not supposed to be listed, he said steps must be taken to delist them.