Summary: Due to the unfavorable economic forecast, frequent devaluations of the local currency relative to the US dollar, and unstable policy, net foreign portfolio investment in Bangladesh decreased during the July–March fiscal year 2023–2024. In 2020, foreign investors began selling their shares because they thought there might be huge devaluations of the local currency. According to Bangladesh Bank data, over... Read More
Summary: Bangladeshi startups who were denied the chance to go public because their business strategy called for expansion before profitability will now be able to raise funds from the stock market according to modifications of the Public Issue Rules that the securities regulator is planning. However, even when a startup had losses in the previous fiscal year, it was still eligible to... Read More
Summary: The Bangladesh Securities and Exchange Commission (BSEC), which oversees the stock market, has taken the lead in establishing a pool of impartial service providers to oversee and closely monitor general meetings, including extraordinary general meetings (EGMs) and annual general meetings (AGMs). The BSEC now requests that companies choose their service provider from a list of ISPs for monitoring AGMs... Read More
Summary: The country's first commodities (CX) exchange license will be granted to the Chittagong Stock Exchange (CSE) by the Securities Commission on March 20, 2024, around four months after the guidelines were published. Shaifur Rahman Mazumdar, the Managing Director of CSE, attested to this and stated that the bourse would determine the next step upon obtaining the license. According to... Read More
Summary: The Bangladesh Securities and Exchange Commission (BSEC) directed listed firms to ensure 30% shareholding by sponsors and directors. Non-compliant firms, including Active Fine Chemicals and Central Pharmaceuticals, face scrutiny. The commission appointed independent directors to six firms and granted a year for 13 others to comply. Experts suggest removing non-compliant directors to protect investors. BSEC spokesperson noted ongoing efforts... Read More
Summary The regulatory body of the stock market has made it compulsory for a listed company to have at least 25% of its board members, including the chairman and managing director, physically present at the general meeting. This is to ensure that the company is accountable to its shareholders. Content On December 28th of the previous year, the Bangladesh Securities and Exchange... Read More
Summary: The Dhaka Stock Exchange (DSE) is set to distribute compensation to customers of four brokerage firms from the Investors' Protection Fund established almost a decade ago. Content: As per the Dhaka Stock Exchange (DSE), 8,561 customers have filed claims amounting to more than Tk200 crore until 1st October this year. However, for now, the DSE will disburse Tk25 crore, which is... Read More
Summary The Dhaka Stock Exchange (DSE) has announced plans to create a sophisticated platform that will focus on ensuring accurate disclosures by listed companies. The aim is to prevent the dissemination of misleading information. Content The newly appointed managing director of the country's leading bourse, ATM Tariquzzaman, unveiled this initiative during a program on Tuesday. He emphasized that the current manual process... Read More
SUMMARY: The government will soon embark on an alliance with foreign investors with the intent to lay the foundations of a shipbuilding facility. The government of Bangladesh is just one step away from attaining its colossal objective to construct a state-of-the-art shipyard with the biggest foreign direct investment (FDI) of $1.58 billion. This tremendous plan of action will be carried... Read More
SUMMARY: An initiative to develop a database on defaulters of bond has been taken by the Bangladesh Securities and Exchange Commission in order to keep a record of it. CONTENT: The Bangladesh Securities and Exchange Commission (BSEC) will redraft the Debt Securities Rules 2021 so as to incorporate the clause of the matter concerning bond defaulters. Issuing of bonds in a company obligates... Read More
