Dhaka Stock Exchange (DSE) Brokers Association of Bangladesh (DBA) President Saiful Islam has lamented that insider trading continues to persist in the shares of large corporations, both local and multinational, worsening the overall condition of the country’s capital market.

Speaking at a seminar titled “Empowering Investors through Emerging Technology and Digital Finance” organized by the DSE marking World Investor Week, Saiful expressed deep frustration over the current state of the capital market.

Information about insider trading in the shares of major companies is not uncommon. The absence of transparent financial reporting has only intensified these issues,” he said.

He urged the Bangladesh Securities and Exchange Commission (BSEC) to take stronger and more responsible action to eliminate scams and manipulation from the capital market.

Expressing disappointment over the market’s performance, the DBA president said that despite repeated efforts, not a single Initial Public Offering (IPO) has been brought to the market in the past one and a half years — a reflection of investors’ declining confidence.

He also pointed out that companies seeking IPO approval face excessive paperwork.

The documentation required by the BSEC and other related institutions weighs more than five kilograms. There is no alternative to fully digitizing this process,” Saiful remarked.

He recommended introducing a single digital platform to streamline IPO proceedings through online submission and processing.

Referring to the Central Depository Bangladesh Limited (CDBL), established in 2004 as part of efforts to make the market paperless following the 1996 stock scam, Saiful said the institution has yet to meet expectations.

CDBL has failed to deliver on its potential. Despite having enormous scope to act, it has not taken any meaningful initiatives so far,” he said.

The DBA president also urged the BSEC to shift the responsibility of investor education from brokerage houses to other market-related institutions, emphasizing that greater institutional involvement is essential for building a knowledgeable and confident investor base.