Hundreds of retail investors staged a peaceful protest outside the Bangladesh Securities and Exchange Commission (BSEC) headquarters in Agargaon, Dhaka, on Sunday, November 16, demanding urgent reforms to restore confidence in the country’s capital market.
The demonstration, organised by the Capital Market Investors’ United National Alliance and attended by representatives from ten investor groups, was marked by orderly chants and the presentation of a formal eight-point charter. Protesters expressed deep frustration over what they described as systemic mismanagement, regulatory failures, and a sustained decline in market stability since the current BSEC leadership assumed office.
Speakers at the rally held the BSEC Chairman, Khandaker Rashed Maqsood, and the Financial Advisor directly accountable for the erosion of investor trust. They cited falling market indices, frozen liquidity, and the recent gazetting of contentious regulations – particularly the Margin Loan Rules-2025 and Mutual Fund Rules-2025 – as key contributors to the crisis.
The eight demands presented by SM Iqbal Hossain, Senior Coordinator of the newly formed alliance, are as follows:
Immediate removal of BSEC Chairman Khandaker Rashed Maqsood for incompetence and failure to safeguard investor interests.
Cancellation of the gazette notification for the Margin Loan Rules-2025, which investors say has severely restricted market liquidity.
Cancellation of the gazette notification for the Mutual Fund Rules-2025, deemed detrimental to retail participation and transparency.
Full and prompt refund of share value losses suffered by investors following the merger of five state-owned banks, which they argue was executed without adequate protection for small shareholders.
Resignation of the entire BSEC commission, accepting collective responsibility for the prolonged decline of the capital market.
Immediate identification and dismissal of corrupt or negligent officials within BSEC and related institutions.
Swift legal action against individuals and entities accused of market manipulation, insider trading, and looting of mutual fund assets.
Temporary suspension of all stock market trading until structural reforms are implemented and investor protections are restored.
The protest concluded with the announcement of a unified coalition of ten investor organisations, pledging sustained, non-violent pressure until their demands are addressed. Organisers warned that further actions – including nationwide awareness campaigns and coordinated appeals to Parliament and the judiciary – will follow if no substantive response is received within 15 days.
BSEC officials were not present at the protest. The commission has yet to issue an official statement in response to the demands.