DHAKA: The Bangladesh Securities and Exchange Commission (BSEC) has decided to form a committee to find a way out for speeding up the trade settlement cycle. The commission took the decision at a meeting with stakeholders at BSEC on Saturday, said a press release.
According to Bangladesh Sangbad Sangstha, 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 stated that 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 emphasized the n
eed to reform existing tax policies and rationalize tax rates for the greater interest of the capital market and the investors.