DHAKA, June 4, 2026 (BSS) - Newly appointed Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Masud Khan today unveiled an ambitious reform roadmap aimed at rebuilding investor confidence, strengthening market governance, and transforming Bangladesh's capital market into a transparent and institution-driven emerging market. Speaking at a press conference in the city after taking charge of the regulatory body, Khan acknowledged that the country’s capital market has struggled to keep pace with Bangladesh's economic growth over the past two decades.  He noted that declining investor confidence, a shortage of quality securities, weak institutional participation, and reduced foreign investment have hindered the market's development. "The capital market must become a true reflection of Bangladesh’s economic strength and future potential," he said. Outlining the Commission's priorities, Khan said the new leadership would pursue a policy of "Smart Regulation" aimed at reducing unnecessary compliance costs and regulatory complexities for listed companies. As part of this initiative, he said, the BSEC will review existing financial reporting requirements and approval procedures, including quarterly reporting standards, to align them with international best practices under International Accounting Standard (IAS) 34 while maintaining transparency and investor protection. The Commission also plans a comprehensive digital transformation of the capital market ecosystem, he added. “IPO applications, rights issues, bond and sukuk approvals, licensing procedures, and other regulatory services will gradually be shifted to digital platforms to improve efficiency, transparency, and accountability,” he added. To broaden the market and improve its depth, Khan announced plans to actively encourage multinational companies, state-owned enterprises, and large local corporations to list on the stock exchanges. He revealed that the BSEC is working with the National Board of Revenue (NBR) to introduce a "Listed Company Advantage Programme," which would provide incentives for public listing. Proposed measures include greater tax benefits for listed firms, simplified tax administration, and faster dispute settlement mechanisms, he added. The new chairman stressed that the Commission would adopt a strict stance against insider trading, circular trading, and pump-and-dump schemes. According to Khan, the BSEC will work closely with the Dhaka and Chattogram stock exchanges and the Central Depository Bangladesh Limited (CDBL) to establish a modern real-time surveillance system capable of detecting and preventing market abuse more effectively. "We will not tolerate any form of market manipulation," he said, emphasizing the need to restore fairness and discipline in trading activities. Addressing one of the most debated issues in the capital market, Khan clarified that the Commission's objective is to ensure fair price discovery rather than administratively controlling stock prices. He stated that no new floor prices would be imposed in the future and that existing floor price mechanisms would be withdrawn gradually, allowing market forces to determine valuations. The chairman said a healthy market requires transparency, liquidity, and investor confidence rather than artificial interventions. Khan also highlighted the importance of increasing institutional participation in the market, particularly from mutual funds, pension funds, and insurance companies. He acknowledged that confidence in the mutual fund sector has weakened over the years and pledged reforms to improve governance standards, accountability, disclosure practices, and asset valuation methodologies. Greater institutional participation, he noted, would contribute to market stability and reduce excessive dependence on retail investors. The BSEC chief noted that the government has already appointed three commissioners through a competitive and merit-based process, while the appointment of a fourth commissioner is underway. He expressed confidence that the new team, comprising professionals with expertise in finance, law, and corporate management, would help implement the reform agenda effectively. In his concluding remarks, Khan said restoring confidence would require consistent actions rather than promises. "Trust cannot be built through speeches or administrative intervention. It must be earned through integrity, transparency, accountability, and fair enforcement," he said. Emphasizing the broader economic significance of the capital market, he added that Bangladesh deserves a modern and efficient market capable of mobilizing long-term investment and supporting sustainable economic growth. The reform agenda outlined by the new chairman signals a significant shift in regulatory priorities and is expected to shape the future direction of Bangladesh's capital market in the coming years.