BSEC doesn’t have manpower to monitor firms properly

The Bangladesh Securities and Exchange Commission (BSEC) cannot monitor all companies properly due to a lack of manpower, said BSEC Chairman Prof Shibli Rubayat-Ul-Islam yesterday. 

With the existing manpower, it is not possible for the stock market regulator to monitor all 1,100 listed companies or those raising capital 200 working days of a year, he said.

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"In spite of the lacking, the regulator is trying to monitor them. So, there might have been some mistakes. If we do not work and remain silent then no mistake will take place," he said.

The BSEC chairman was addressing the inaugural ceremony of a three-day capital market exposition organized by business news online portal arthosuchak at the Institution of Diploma Engineers, Bangladesh in Dhaka mainly to increase awareness about the capital market.

The entrepreneurs should go to the stock market to meet at least 50 per cent of their financing demand, Commerce Minister Tipu Munshi said after inaugurating the expo.

The country's business and trade will expand if the businesses are provided with more funds from the stock market, he said.

The minister also expressed hope of the stock market making a turnaround from its existing downward movement.