BSEC to form committee to accelerate trade settlement cycle

The Bangladesh Securities and Exchange Commission (BSEC) has decided to form a committee to find a way out for speeding up trade settlement cycle.

The commission took the decision at a meeting with stakeholders at BSEC on Saturday, said a press release.

According to the decision, representatives of the two stock exchanges, stock brokers, the Central Depository Bangladesh Limited, the Bangladesh Bank and other relevant institutions will be included in the committee.

The meeting discussed how a shortened stock transaction settlement cycle could bring convenience for investors and market entities.

During the meeting, BSEC Chairman Khondoker Rashed Maqsood said the commission is in talks with the government and the National Board of Revenue to reduce the tax rate on capital gains.

"Our efforts to address this issue are ongoing, and we hope to have a positive result very soon," he added.

To make the capital market more dynamic and attract investors, the meeting stressed the need to reform existing tax policies and rationalise tax rates for the greater interest of the capital market and the investors.