DSE launches disclosure submission system

The Dhaka Stock Exchange (DSE) today launched a smart data and document submission system in order to ease and speed up the process for listed companies to submit disclosures.

Some 349 companies are currently listed with the premier bourse and publish disclosures regularly by sending hardcopies manually.

The listed companies sometimes face challenges at the time of sending disclosures manually.

In this perspective, the Dhaka bourse launched the "Smart Submission System of DSE" at an event organised at its head office in the capital's Nikunja.

Thanks to the new system, listed companies will not need to submit the documents manually.

Rather, they will be able to directly upload queries, files and information of any report.

Information on declaration of quarterly and annual financial statements, annual reports, audio-visual recordings, corporate governance reports and dividend compliance reports will also be available in the system.

The DSE officials formed the submission system with the help of Shenzhen Stock Exchange.

The new submission system will help listed companies publish their data properly within a very short time, ATM Tariquzzaman, managing director of the DSE, said in his welcome speech.

The risk of making mistakes will be reduced and the system will also help detect irregularities, he added.

The new system will save time for listed companies, said Rupali Haque Chowdhury, president of the Bangladesh Association of Publicly Listed Companies.

However, any technical problem that may occur within the system will need to be corrected immediately, she added.

Chowdhury also said some listed companies may not be able to use the system, so the DSE should help them use it properly.

Hafiz Md Hasan Babu, chairman of the DSE, and Saiful Islam, president of the DSE Brokers' Association, were present at the event.

The DSE previously introduced an online data submission and dissemination platform as a part of an experiment in 2022, where it was mandatory to input data manually.