Tk 14.96bn fined, Salman and Shibli banned over stock market manipulation: Khosru

The penalties stem from investigations into 12 widely discussed cases examined after the commission was reconstituted after July Uprising

Finance Minister Amir Khosru Mahmud Chowdhury has said the stock market regulator has fined individuals and institutions Tk 14.96 billion over alleged irregularities, manipulation and controversial transactions.

On Tuesday, the second day of the budget session, Khosru revealed the information in parliament while responding to a question from Md Selim Reza, a treasury bench MP from the Sirajganj-1 constituency.

The penalty was imposed by the Bangladesh Securities and Exchange Commission (BSEC) after its reconstitution following the July Uprising, he said.

The stock market regulator made the decision based on inquiries and investigations into 12 discussed issues after Aug 5, 2024, banning ousted prime minister Sheikh Hasina’s former advisor Salman F Rahman, former BSEC chairman Shibli Rubayat Ul Islam, former commissioner Shamsuddin Ahmed and some top officials of several industrial groups and financial institutions.

Following the fall of the Awami League government in 2024, the reconstituted BSEC launched a sweeping crackdown on alleged stock market irregularities uncovered through a series of investigations.

The regulator imposed fines, market bans and other sanctions against prominent individuals, companies and officials, while referring several cases to the Anti-Corruption Commission for further action.

Finance Minister Khosru told parliament that some investigations remain ongoing, while others are under review or facing legal challenges.

Hearings are continuing in several cases.

As of May 13, 2026, authorities had completed 114 inquiries, 12 investigations and 64 inspections into alleged market manipulation and misconduct.

A total of 675 enforcement actions have been taken, while 16 allegations have been referred to different agencies for further investigation.

The minister did not disclose how much of the fines had been recovered, whether the penalties had been challenged in court, or whether affected investors had received any relief.

He said the government is also pursuing reforms to deepen the capital market, including strengthening the bond market, updating debt instrument rules and introducing new investment products such as exchange-traded funds, Sukuk and commodity derivatives.

Efforts are also under way to bring more state-owned enterprises, fundamentally strong companies and SMEs to the stock market.