Special Assistant to the Chief Adviser Anisuzzaman Chowdhury has said that just as the central bank requires autonomy to function effectively, the Bangladesh Securities and Exchange Commission (BSEC) also needs similar independence to strengthen its role as the capital market regulator.

He made the remarks on Wednesday while addressing the BSEC’s monthly coordination meeting with capital market stakeholders, where he underscored the necessity of ensuring BSEC’s operational autonomy.

If Bangladesh Bank can enjoy autonomy, then BSEC should too,” Anisuzzaman assured the participants.

Highlighting the need to prevent market rumours, he said all stakeholders must work collectively and move beyond traditional mindsets to build a stronger and more resilient capital market.

We must act in the collective interest of all stakeholders in the market. Upholding integrity and democratic practices is essential. Every decision should be guided by market realities and proper coordination,” he added.

Anisuzzaman, who oversees the Ministry of Finance, directed that the registration of Central Counterparty Bangladesh Limited (CCBL) be completed and the entity made operational within December this year.

BSEC Chairman Khondoker Rashed Maqsood informed the meeting that three major regulatory frameworks — The Margin Rules 2025, The Mutual Fund Rules 2025, and The Public Offer of Equity Securities Rules 2025 — are at the final stage of completion. Once enacted, these will mark a significant step forward in the legal and structural reforms of the capital market.

These rules will be gazetted soon. There’s no reason for concern, as we have revised the new margin rules after an in-depth review and in consultation with all stakeholders,” the BSEC chief said, reassuring the participants.

He also noted that even after the new rules come into effect, market participants will be given a transition period of six months to one year for necessary adjustments.

Participants at the meeting discussed the progress of ongoing reform initiatives and emphasized the need for modernizing surveillance mechanisms, upgrading the existing market infrastructure, shortening the settlement cycle, introducing transaction facilities on record dates, implementing scrip netting, and expediting the launch of the commodity exchange and futures market.

They also stressed the importance of strengthening BSEC’s institutional independence, enhancing API connectivity among market entities, ensuring robust cybersecurity, and bringing state-owned enterprises, large local companies, and multinational firms to the stock market through accelerated IPO reforms.

Other key recommendations included encouraging new company listings through joint initiatives by DSE and ICB, building the capacity of market intermediaries, improving corporate governance, finalizing CCBL’s phased operational plan, and resolving negative equity issues.

Participants further called for expanding the scope of merchant banks, improving financial reporting and audit quality, implementing XBRL (Extended Business Reporting Language) for financial disclosures, ensuring strict action against market manipulation, promoting investor education, enhancing investor confidence, and establishing the capital market as a key source of long-term financing.

The meeting also discussed increasing fire safety vigilance across capital market entities in light of recent incidents, strengthening the operations of the Special Tribunal on capital market issues, holding monthly coordination meetings among BSEC, DSE, and CDBL, and organizing stakeholder coordination meetings every two months to ensure continuous engagement and policy alignment.