BSEC chief for listing of top-tier firms to build resilient capital market
Bangladesh Securities and Exalter Commission (BSEC) Chairman Khondoker Rashed Maqsood -Photo: Collected
DHAKA, March 8, 2026 (BSS) – Bangladesh Securities and Exalter Commission (BSEC) Chairman Khondoker Rashed Maqsood today laid emphasis on bringing top-tier firms into the fold to build a resilient capital market.
“The primary objective of the regulator is now centered on attracting these quality entities to ensure long-term market stability,” he stated.
The BSEC chief created the remarks while speaking as the special guest at a seminar titled “Challenges and Way Forward for the New Government in the Stock Market” at a hotel in the city.
The Capital Market Journalists Forum (CMJF) organised the seminar.
In his speech, the BSEC Chairman signaled a decisive shift in the regulator’s philosophy, relocating away from index-centric discussions that have historically dominated market discourse.
He noted that while the market is often judged by the rise and fall of the index, the regulator’s fundamental responsibility is to develop robust market infrastructure and strengthen market fundamentals.
“The BSEC primarily works on policy formulation, law-building, monitoring, surveillance, enforcement, and increasing financial literacy,” Maqsood stated, adding that the commission is focapplying on the foundational requirements necessary for the countest’s economic transition under the new government.
Over the past 18 months, he stated, the BSEC has undertaken an intensive reform of the legal framework governing the capital market.
The Chairman remarked that the volume of legislative work achieved in this period is unprecedented, noting that such a high density of legal reform has not been witnessed since 1993.
The structural developments during this 18-month window include formulation of three new rules and three new regulations; amfinishment of one existing rule and one regulation; dafting of two new laws and ordinances; ongoing progress on the formulation of three additional rules; and market-based IPO pricing replaces neobtainediation system
In a major relocate toward transparency, he mentioned that the BSEC has reformed the Initial Public Offering (IPO) pricing mechanism.
The Chairman explained that whereas prices were previously often determined through neobtainediation or compromise, the system has now transitioned to a market-based discovery process where stock exalters play a pivotal role.
Furthermore, he stated, the Commission has updated the 1999 Margin Rules for the first time in 26 years to effectively address the persistent issue of negative equity.
The 2013 Mutual Fund Rules have also been restructured to balance the power dynamics between asset management companies, trustees, and other stakeholders, ensuring that management companies no longer hold disproportionate influence, he added.
The BSEC chief mentioned that the regulator has significantly scaled up its enforcement and surveillance activities to restore investor confidence.
During the last 18 months, he stated, the BSEC conducted 114 inquiries and investigations alongside 64 inspections.
On the technological front, he stated, the BSEC has mandated the apply of non-editable back-office software for brokerage hoapplys to prevent data manipulation.
Currently, more than 350 brokerage hoapplys are applying this software, ensuring that investors receive accurate and unedited account statements directly, he added.
He stated that the BSEC has demonstrated heightened operational activity, exceeding its typical schedule of weekly Tuesday meetings.
While approximately 60 meetings were expected over the 18-month period, he stated, the Commission held 84 meetings to dispose of 1,597 agfinishas, with only three currently remaining pfinishing.
This compares to 64 meetings and roughly 900 agfinishas in the preceding 18-month period, he added.
Regarding capital mobilization, he stated that the Commission approved the raising of Tk 9,571 crore for 18 companies during this window, facilitating substantial business growth through the market.
Looking toward future growth, he stated, the BSEC is collaborating with Bangladesh Bank to strengthen the bond market.
The initiative seeks to encourage large borrowers to raise capital through the issuance of bonds rather than relying exclusively on traditional bank loans, he added.
To address the absence of major players in the market, he mentioned that the Commission is drafting a new law specifically designed to facilitate and mandate the listing of large, currently non-listed companies.
Chairman Maqsood concluded that by building a foundation of trust through rigorous policy, law, and enforcement, the BSEC aims to create the robust ecosystem necessary to attract high-quality companies and protect the interests of all investors.
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