Dhaka: The Dhaka Stock Exchange PLC (DSE) today inaugurated the 'Regulatory Submission Module and CSE Onboarding' within its Smart Submission System (SSS) at the Multipurpose Hall of DSE Tower in the city. This marks a significant milestone in the digital transformation of Bangladesh's capital market.
According to Bangladesh Sangbad Sangstha, the SSS was developed using DSE's technological capabilities under the guidance and supervision of the Bangladesh Securities and Exchange Commission (BSEC), initially launching on February 12, 2024. The system enables smooth, secure, and real-time submission of documents and publications in the capital market.
The inauguration event was presided over by DSE Chairman Mominul Islam, with BSEC Commissioner Md. Saifuddin, CFA, attending as the chief guest. The event was attended by managing directors, company secretaries, and chief financial officers of listed companies. The new module and DSE onboarding are considered the next phase of DSE's digital capability and a continuation of its journey towards full digital transformation.
DSE Chairman Mominul Islam emphasized the importance of this milestone in strengthening digital connectivity with stakeholders. Starting immediately, price sensitive information, regulatory reports, financial statements, and necessary documents can be submitted entirely through the digital platform, eliminating the need for hard copy submissions.
Mohammad Asadur Rahman FCS, DSE's Chief Operating Officer (COP) and Acting Managing Director, stated that the system allows listed companies and market-related stakeholders to submit documents online directly from their offices, increasing efficiency and transparency in market operations. The core objective is to reduce official complexities and the need for frequent visits for issuers.
Md. Kaysar Hamid, Executive Committee Member of BAPLC, noted that companies previously faced issues with manual and dual submissions. The joint launch of this digital platform by DSE and CSE makes the submission process timely and transparent, reducing the risk of errors and increasing accountability.
Dr. Md. Asifur Rahman, DSE's Chief Technology Officer, highlighted that the second phase of the DSE Smart Submission System is a critical milestone in digital transformation. The system, developed using Agile Scrum methodology, employs technologies such as Java multi-tier architecture, Spring Boot, JavaScript, PostgreSQL, and PowerBI.
BSEC Commissioner Md. Saifuddin stated that the digital platform aims to ensure easy, transparent, and standardized availability of market-related financial information, improving the efficiency of information usage by various stakeholders. The initiative began through a partnership with a Chinese consortium, adopting BPM-based workflow automation.
Md. Sayed Kutub, Additional Secretary of the Insurance and Capital Market Wings of the Ministry of Finance, emphasized the importance of transparency and reliable information flow for rebuilding investor confidence. He stated that digital platforms like this will help restore that confidence.
Looking ahead, DSE anticipates that the SSS will facilitate the future implementation of XBRL (eXtensible Business Reporting Language) in Bangladesh. The BSEC Commissioner noted that financial data submission will expand to AI-readable and machine-readable formats based on XBRL, enhancing market research and data intelligence locally and globally.