Solve BSEC crisis immediately: DBA
The DSE Brokers Association of Bangladesh (DBA) has urged the government to take swift action to resolve the ongoing crisis at the Bangladesh Securities and Exchange Commission (BSEC).
A group of BSEC officials locked the chairman and three commissioners inside the office for about four hours yesterday, protesting the forced retirement of its executive director, Saifur Rahman.
For all latest news, follow The Daily Star's Google News channel. Later, the chairman and commissioners were rescued by the army.
Today, the protesting officials are observing a break in service, demanding the resignation of the chairman and commissioners.
In a statement, the DBA expressed concern over the unrest among BSEC officials and employees, warning that the instability could undermine investor confidence and negatively impact the capital market.
The association stressed the need for an immediate resolution to ensure a stable and transparent regulatory environment.
DBA President Saiful Islam stated in the press release that any instability within the regulatory body poses a serious risk to investor confidence and the capital market's future.
"We urge the authorities to take prompt measures to restore normalcy," he said.
He also warned that the ongoing crisis could deter foreign investors and trigger market volatility.
The DBA called on the relevant ministries to intervene and facilitate a swift resolution to prevent long-term damage to the financial sector.
The association underscored the importance of maintaining market integrity and investor trust to sustain economic growth.
"Ensuring a stable and transparent capital market is essential for the broader economy, and we urge the government to act decisively in addressing the concerns at BSEC," the DBA statement added.
As regulatory uncertainty persists, stakeholders are looking to the government for intervention to restore stability and maintain the momentum of Bangladesh's financial markets, the statement concluded.
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