The Bangladesh Securities and Exchange Commission (BSEC) is the regulator of the capital market of

Bangladesh Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by ...

, comprising

Dhaka Stock Exchange The Dhaka Stock Exchange (DSE) ( ''Dhaka stôk ekschenj''), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership ...

(DSE) and

Chittagong Stock Exchange The Chittagong Stock Exchange () is a stock exchange based in the port city Chittagong, Bangladesh. It is one of the twin financial hubs of the country, alongside the Dhaka Stock Exchange. Established in 1995, the exchange is located in the A ...

(CSE). The commission is a

statutory body A statutory body or statutory authority is a body set up by law (statute) that is authorised to implement certain legislation on behalf of the relevant country or state, sometimes by being Primary and secondary legislation, empowered or deleg ...

and attached to the Ministry of Finance.

History

BSEC was established on 8 June 1993 under the Securities and Exchange Commission Act, 1993. Sultan-uz Zaman Khan, a career bureaucrat, was the first commissioner of the commission. Before the commission, the market were regulated under the Capital Issues Act 1947. The chairman and members of the commission are appointed by the government and have overall responsibility to administer securities legislation. The commission, at present, has four full-time members, excluding the chairman. The commission is a statutory body and attached to the Ministry of Finance. It works closely with Central Depository Bangladesh Limited. From 2006 to 2009, Faruq Ahmad Siddiqi was the chairman of Bangladesh Securities and Exchange Commission during the

Fakhruddin Ahmed Fakhruddin Ahmed (; born 1 May 1940) is a Bangladeshi economist, civil servant, and a former governor of the Bangladesh Bank, the country's central bank. He also served as the 4th Chief Adviser of Caretaker government of Bangladesh. On 12 Janu ...

led Caretaker government. Initially, the name was ''Securities and Exchange Commission'', on 10 December 2012 and was officially changed to ''Bangladesh Securities and Exchange Commission''. During the 2011 Bangladesh share market scam, BSEC withdrew various directives given earlier to help stabilize trading at the

and was criticized by some commentators for its actions during the subsequent crash. In 2017, BSEC plans to establish an intelligence unit of the commission. Bangladesh Academy for Securities Market (BASM) was established in July 2019 as the academic unit of Bangladesh Securities and Exchange Commission. Two professors of the University of Dhaka, Shaikh Shamsuddin Ahmed and Mizanur Rahman, were appointed commissioners of Bangladesh Securities and Exchange Commission on 20 May 2020 for 4 years. In 2021, Bangladesh Securities and Exchange Commission announced it is investigating Padma Bank following a complaint by Mohiuddin Khan Alamgir, founding chairman of the bank, and letter against him from the bank. Bangladesh Securities and Exchange Commission approved

Bashundhara Group Bashundhara Group LTD () is a Bangladeshi conglomerate based in Dhaka. It was incorporated in 1987 as a real estate company under the name East West Property Development Ltd (EWPD). It presently owns more than 50 major concerns throughout Bangl ...

's request to purchase a 25 percent stake in the

. Under the

Digital Security Act The Digital Security Act, 2018, was a digital security law in Bangladesh. This act was passed with the aim of preventing the spread of racism, sectarianism, extremism, terrorist propaganda, and hatred against religious or ethnic minorities throug ...

, Bangladesh Securities and Exchange Commission was identified as a critical information infrastructure which restricts the publics access to information from the organisation. The commission ordered Tamha Securities to be liquidated to pay back clients, whose investment was embezzled by the firm. Professor Rumana Islam of the University of Dhaka was appointed the first female commissioner in May 2022 replacing Khondoker Kamaluzzaman. On 3 September 2024, former faculty member of the

University of Dhaka The University of Dhaka (), also known as Dhaka University (DU), is a public university, public research university located in Dhaka, Bangladesh. Established in 1921, it is the oldest active university in the country. The University of Dhaka w ...

, Farzana Lalarukh, was appointed as the new commissioner for a 4-year term.

References

External links

* http://www.secbd.org {{authority control

Government agencies of Bangladesh Securities and exchange commissions 1993 establishments in Bangladesh Regulators of Bangladesh

History

See also

References

External links