Stakeholders of the capital market on Sunday called for a swift resolution to the ongoing crisis at the Bangladesh Securities and Exchange Commission, expressing concerns that the recent incidents at the commission had caused frustration and anxiety among investors at home and abroad.
The call came after a discussion between capital market representatives and BSEC chairman Khondoker Rashed Maqsood and three commissioners at the commission鈥檚 office in Dhaka鈥檚 Agargaon.
After the meeting, Dhaka Stock Exchange chairman Mominul Islam and director Minhaj Mannan spoke to reporters.
Mominul Islam said, 鈥榃e discussed how to quickly resolve the crisis that has arisen in the capital market regulatory commission. Individuals and institutions have the opportunity to appeal to the commission or the government in accordance with the law and rules if anyone is aggrieved by any decision of the commission.鈥�
He further said, 鈥榃e have expressed solidarity with the current commission鈥檚 investigation activities against irregularities and corruption and called for a detailed investigation into the irregularities and corruption of the past to bring those involved to justice. This is necessary to restore investor confidence.鈥�
鈥楾he commission has been called upon to take steps so that honest and dedicated officials can carry out their daily activities smoothly without panic,鈥� Mominul Islam said.
DSE director Minhaj Mannan added, 鈥榃e have requested that initiatives be taken so that none of the officials and employees of the organization face injustice and do not become afraid and panicked.鈥�
BSEC chairman Khondoker Rashed Maqsood assured that the commission was working to stabilize the situation.
鈥楽takeholders of the capital market expressed solidarity with us. They have assured us of their cooperation for the development and interest of the capital market,鈥� he said.
Maqsood also confirmed that BSEC officials had returned to work.
The meeting was attended by representatives from leading brokerage houses, DSE, Chittagong Stock Exchange, DSE Brokers Association of Bangladesh, Central Depository Bangladesh Limited, and Central Counterparty Bangladesh Limited.
Meanwhile, BSEC officials and employees, who had abstained from work on Thursday, unofficially ended their strike and resumed work on Sunday.
The strike was triggered by the forced retirement of BSEC executive director Md Saifur Rahman on Tuesday, which led to protests among officials.
On Wednesday, a group of officials staged a demonstration, demanding the withdrawal of Saifur Rahman鈥檚 retirement, retraction of show-cause notices, and maintaining proper office conduct.
The protesters confined the chairman and three commissioners inside the BSEC building from 11:00 am for about four hours, before law enforcement escorted them out.
However, the protesting officials denied that they had confined them.
In response to the protests, BSEC chairman Maqsood stated, 鈥楾he BSEC formed an investigation committee to probe irregularities in 12 listed companies, with seven reports submitted so far. Charges are being prepared against various institutions and officials.鈥�
He added that Saifur Rahman was sent on retirement 鈥榓s per service rules following multiple allegations,鈥� which led to the protests.
Following the incident, a case was filed on Thursday against 16 BSEC officials and employees. The case was lodged by the chairman鈥檚 gunman in connection with the events of Wednesday.