BSEC chairman vows to restore good governance in stock market

Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Khondoker Rashed Maqsood on Sunday pledged to restore investor confidence by ensuring good governance in stock market.

"We have started to investigate the reasons behind previous irregularities in the stock market and taken steps to eliminate them. We want to restore the confidence of investors. We have started to address the issues that have plagued the market in the past," he said.

The BSEC chief said this at a press conference at BSEC conference room in the city, reports BSS.

In his speech, Maqsood said that BSEC is now working to bring back transparency and good governance in the capital market.

"Restoring investor confidence requires a thorough examination of past practices and the implementation of necessary reforms to prevent future abuses," he added.

He informed that BSEC will conduct a comprehensive review of its operations in the past.

Many beneficiary owner (BO) accounts are currently inactive, he said and opined that to bring these investors back into the market, their confidence must be restored first.

"We will work in two areas. One is core area and another is non-core area. At first, we will bring back transparency in transactions. The second one is good governance. Representatives of board will have to ensure transparency," he added.