Govt orders assessment of CDBL’s listing potential

The finance ministry has instructed the Central Depository Bangladesh Ltd (CDBL) and other relevant stakeholders to assess the company’s potential and the appropriate timing for its listing on the stock market.

The directive came at a meeting held yesterday at the ministry, attended by Nazma Mobarek, secretary of the Financial Institutions Division, and Khondoker Rashed Maqsood, chairman of the Bangladesh Securities and Exchange Commission.

A ministry official, who was present at the meeting, confirmed to The Daily Star that the issue of CDBL’s listing was discussed, but no decision was taken.

Relevant stakeholders, including CDBL, have been asked to review the matter, the official added.

“Bringing a good company to the capital market is very important. If there are no obstacles, CDBL will be listed,” the official said, adding that the government advised stakeholders to consider the issue positively.

Stockbrokers have long been calling for the listing of CDBL, the country’s sole securities depository, which provides core depository services, including electronic settlement, delivery and transfer of securities through a book-entry system, enabling secure and efficient ownership transfers without physical certificates.

Established in 2000 with support from the Asian Development Bank and funding from major financial institutions, the company remains unlisted after 25 years.

The meeting also discussed transforming Central Counterparty Bangladesh Ltd (CCBL) into a subsidiary of the Dhaka Stock Exchange (DSE).

Deliberations focused on how the institution could move forward while keeping its shareholding unchanged, reducing the size of its board, and strengthening coordination with DSE management.

Measures to develop the bond market were also discussed.

When asked whether there had been any discussion on merging the country’s two stock exchanges, the official said that no such discussion took place.

Representatives from the DSE, Chittagong Stock Exchange (CSE), CDBL and CCBL attended the meeting.