Home ›› 05 Aug 2022 ›› Stock
The Bangladesh Securities and Exchange Commission Chairman Professor Shibli Rubaiyat-ul-Islam has cautioned investors against any foul play in the capital market.
“There is no place for rogues,” he warned while speaking at an event on ‘Capital Market of Bangladesh: Prospects and Opportunities for Tech Startups and Growth Stage Companies’ organsied by the Dhaka Stock Exchange (DSE) in Dhaka on Thursday.
The BSEC chairman’s remarks came nearly a month after it slapped penalties on some manipulators for indulging in fraudulent trade practices.
On July 6, the regulator fined Abul Khayer, widely known as ‘Hero’ in stock market, and his family members Tk 5.25 crore for manipulating scrips of NRBC Bank and Fortune Shoes nearly one year ago.
“I’ll not allow any incompetents to spoil the environment,” said Shibli.
About the startup companies, he said that the commission will help startup companies with good accounts and growth raise funds from the stock market.
“We hope the startup companies will become bigger one day. They will then be shifted to the SME board. Later, from there, they will be shifted to the main board. But how long this transfer will take place will depend on the performance of the companies.”
Speaking at the event, ICT State Minister Zunaid Ahmed Palak e said that the government has taken the initiative to bring startup companies to the capital market.
“Startup companies are doing very well in the country. For this, they need funds. Already a startup company entered the capital market. In future, more startup companies will raise funds from the capital market.”
