BSEC chief says quality listings, not roadshows, will restore market confidence

Brokerage firms will face more frequent audits as the regulator pushes reforms to improve transparency

Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan outlines his vision and priorities during a press conference at the commission's headquarters in Dhaka’s Agargaon. Photo: Abdullah Al Momin/File photo

Bangladesh Securities and Exchange Commission (BSEC) Chairman Masud Khan sees no need for promotional roadshows to attract investors to the stock market.

He says listing stronger companies is the key to rebuilding confidence.

Speaking at a mock parliament on restoring confidence in the capital market at the FDC on Saturday, Khan said roadshows waste money, while tighter oversight of brokerage houses will improve transparency through more frequent audits.

He said renowned multinational companies and large local firms will be brought to the market through direct listing to speed up the process and encourage established businesses to join.

Referring to five banks and several financial institutions merged during the then interim government's tenure, he said their liabilities exceed their assets and Bangladesh Bank will decide how to protect the interests of ordinary investors.

Khan also said restoring investor confidence requires political commitment alongside good governance and accountability at the regulator.

He added that the BSEC is working independently “without political interference”, with assurances from the prime minister and finance minister allowing the commission to operate freely.

That, he said, is gradually helping rebuild confidence in the stock market.

The BNP government appointed the chartered accountant and corporate executive to lead the commission as part of efforts to overhaul the capital market.

Khan had served as chairman of Unilever Consumer Care since April 2019 and was also chief advisor to Crown Cement Group.