The interim government has formed a four-member committee to strengthen the Bangladesh Securities and Exchange Commission (BSEC), the stock market regulator.

The panel will also work on the development of the local stock market, according to a circular issued by the Financial Institutions Division (FID) of the finance ministry yesterday.

Anisuzzaman Chowdhury, a special assistant with the status of state minister to the chief adviser, will be the chairman of the committee.

Prof M Sadiqul Islam, a faculty member of the finance department at Dhaka University, will also be included on the committee alongside Farzana Lalarukh, a commissioner of the BSEC, who will serve as a member secretary of the committee.

An additional secretary of the insurance and capital market department of the FID will be the final member.

The government formed the committee in response to the regulatory body's appeal to the FID to investigate the recent chaos at the BSEC on March 5, when BSEC officials confined its chairman and commissioners to an office room to press home several demands.

The committee will also recommend ways to strengthen the regulatory and monitoring activities of the stock market, attract investment, and stabilise the market.

Additionally, it will provide suggestions to increase liquidity in the market, improve corporate governance, and create a favourable environment for new companies to enter the stock market.