Home ›› 01 Oct 2021 ›› Stock
The securities regulator has asked the prime bourse to introduce the real-time price-sensitive information disclosure dashboard for the listed small and medium enterprises companies.
“The Dhaka Stock Exchange needs to put in place the real-time online dashboard for corporate disclosure by companies listed with SME platform,” said Bangladesh Securities and Exchange Commission (BSEC) Commissioner Mizanur Rahman while opening the DSE SME board on Thursday. He said the country has hundreds of thousands of small and medium enterprises.
“Most of them are growing and profitable business enterprises and they do not have an accounting system in place and depend on unskilled clerks. They do not maintain proper books of accounts. They do not prepare and present financial statements in compliance with IFRSs. SMEs incur huge business costs just because of their weak management and the lack of standard financial statements,” he said.
To address those issues, the commissioner urged the DSE and SME Foundation to help the companies improve their financial management system.
He said the issuers of securities to be trading in this segment of exchange are greatly privileged. They had decades of financial exclusion and were forced to borrow either from commercial banks or informal credit markets at exorbitant prices, he said.
“They have got now a lifetime opportunity to issue stocks and debt securities. But they must embrace the challenge of good governance and transparency. BSEC will enforce prudential corporate governance regulations so that entrepreneurs hire smart management, prepare and present financial statements in compliance” he added.
The qualified investor, who has a minimum of Tk50 lakh investment in the capital market, will be allowed to purchase shares of the SME companies. Investors are also allowed to take margin loans against the purchase of their shares on the SME platform.
