"Only companies like GrameenPhone can change the capital market scenario of the country. The big companies will also increase confidence of investors which is another vital instrument to revitalise the market," he told journalists after the election.

Hasan is the first person to be elected president of the country's premier bourse for three consecutive terms.

"I wonder why the government do not approach the big multinationals who nurture good corporate governance. The companies can show quality guarantee needed to improve investors' confidence," he said mentioning that Indian parliament has enacted a law making IPO issuance mandatory for multinational companies.

He said suspension of trading and delisting is not enough to bridle the AGM and dividend defaulting companies. "Suspension of trading or delisting do not bring in financial loss to them. Setting deadline for errant companies to resume production works little. They should be punished monetarily," he said about bringing in more discipline to the capital market.

About government move to offload shares of Padma Oil Co through direct auction, he said shareholders may go to court as the government bypass the brokerage house which is legal way of selling shares of all listed companies.

The 42nd annual general meeting of DSE was held yesterday. The new board of directors also reelected Abdul Haque senior vice-president for third consecutive terms. Feroz Khan was elected new vice-president at the first board meeting of the board.