BSEC to Form Committee for Faster Trade Settlement
- Update Time : 09:36:28 am, Tuesday, 17 December 2024
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The Bangladesh Securities and Exchange Commission (BSEC) has decided to form a committee to accelerate the trade settlement cycle in the stock market. The decision was made during a stakeholder meeting held at the BSEC on Saturday, as stated in an official release.
The committee will include representatives from the two stock exchanges, stock brokers, the Central Depository Bangladesh Limited (CDBL), the Bangladesh Bank, and other relevant institutions. Discussions at the meeting focused on the benefits of shortening the stock transaction settlement cycle to enhance convenience for investors and market participants.
BSEC Chairman Khondoker Rashed Maqsood highlighted that the commission is actively engaging with the government and the National Board of Revenue (NBR) to reduce capital gains tax. He expressed optimism about achieving a favorable outcome soon.
The meeting also emphasized the importance of reforming existing tax policies and rationalizing tax rates to make the capital market more dynamic and investor-friendly.
