BSEC’s silver jubilee progs begin tomorrow

Staff Correspondent | Updated at 11:57pm on September 10, 2018

The Bangladesh Securities and Exchange Commission will begin tomorrow a weeklong celebration programme marking its 25th founding anniversary.
Prime minister Sheikh Hasina is expected to attend as chief guest the inaugural ceremony of the BSEC programme at the Bangabandhu International Conference Centre in Dhaka.
Finance minister AMA Muhith will attend the ceremony as special guest.
The BSEC on Monday announced the weeklong programme at a press briefing held at its office premises at Agargaon in Dhaka.
The week-long programme includes seminars and discussion meetings.
BSEC executive director Farhad Ahmed said, ‘We expect that senior government officials including ministries, secretaries and parliament members, leaders from professionals’ organisations, professors, stakeholders of the capital market and representatives from listed companies will be present in the programme.’
He said that established in 1993, the commission gradually improved and now stood on a solid foundation.
It ensures regulation and good governance along with transparency and accountability in the capital market, and will continue developing the market in the coming days, he said.
Asked about the role of the commission in preventing the ongoing manipulation in the capital market, Farhad said that as long as the market capitalisation remained small, it would be difficult for the commission to check the manipulation.
Market manipulators have been using the small-capitalised companies for manipulating the market as the small-caps are easy to manipulate, he observed.
He, however, said that the commission despite having shortage of manpower was doing good job in improving fairness and transparency in the market through reforms of regulations and enforcement actions.
Asked why the BSEC allowed the small-caps to issue initial public offerings and be listed with the bourses, Farhad said that the commission followed the process mentioned in the securities laws in this connection and it allowed only the companies which fulfilled all the requirements.
BSEC executive director Saifur Rahman said that the commission was comprehensively and strictly supervising and regulating the listed companies in accordance with law.
He also said that the regulator, when required, cracked down on erring companies and investors and resolutely dealt with any violation by listed companies, and pushed the listed companies to improve corporate governance and standardise operations to protect the rights and interests of investors.