Chief Adviser Dr. Muhammad Yunus on Sunday outlined five key directives to improve the country’s ailing capital market. The instructions came during a high-level meeting held at the state guest house Jamuna with stakeholders from the financial sector.
The five directives are:
- Divestment of State-Owned Shares in Multinational Companies: Initiate necessary measures to reduce the government’s stake in multinational companies and list those shares on the stock exchange.
- Incentivizing Private Sector Listing: Encourage large domestic private companies to be listed on the capital market through incentives and supportive policies.
- Capital Market Reform with Foreign Expertise: Bring in international experts and implement comprehensive reforms within three months to eliminate manipulation by vested interest groups.
- Strict Action Against Irregularities: Take firm action against all individuals and entities involved in market irregularities.
- Shift from Bank Dependency to Market-Based Financing: Promote capital market financing—through bonds and equity—for large businesses currently dependent on bank loans.
Dr. Yunus expressed strong concern over past market manipulation and the erosion of public trust. “The stock market has been turned into a hub for looters. Without bringing the culprits to justice, regaining investor confidence will be impossible,” he warned.
He emphasized the need for urgent and meaningful reforms to restore the market as a trustworthy investment platform.
The meeting was attended by Economic Adviser Dr. Salehuddin Ahmed, Special Assistant to the Chief Adviser (Finance Ministry) Anisuzzaman Chowdhury, Financial Institutions Division Secretary Nazma Mobarek, and BSEC Chairman Khondkar Rashid Maksud.
LND/BG
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