DSE Brokers Association (DBA) expressed Concern over the continued discontent among officials and staff of the Bangladesh Securities and Exchange Commission (BSEC) . Which advocates for stockbrokers in the capital market. DBA has also called on the appropriate government ministry to intervene and provide a quick solution to the problem. In an official statement released today (6 March) Saiful Islam the President of DBA emphasized that millions of investors have lost money and intermediary institutions are fighting for survival at a time when the nation’s stock market is already experiencing a protracted crisis as a result of unfavorable decisions and incidents.
“Against this backdrop, internal disputes within such a crucial regulatory body pose a significant risk to market stability.” Investors and stakeholders are more worried and frustrated as a result of this continuous unrest. If the commission’s dilemma is not resolved quickly market trust may be further damaged, which might turn off both domestic and foreign investors, Saiful continued.
He issued a warning that the ongoing unrest at BSEC may lead to additional stock market turbulence, sour investor mood, and harm the general investment environment. In order to restore order within the commission and shield the market from any volatility, he emphasized the critical necessity for prompt intervention. The association has specifically called on all parties involved in the capital market to increase their collaboration in aiding the government’s current development and economic projects. When personnel protested executive director Saifur Rahman’s forced retirement the crisis at BSEC worsened.
Rashed Maqsood the chairman and three commissioners were held captive by protesters in the BSEC conference room for around four hours yesterday. They called for Saifur Rahman’s retirement order to be revoked and the resignation of the chairman and commissioners. In addition the officials who are protesting have vowed to stop working indefinitely starting today if their demands are not met.
Source: The Business Standard
