TIB concerned over selection of DSE strategic partner

Transparency International Bangladesh (TIB) has criticised the alleged attempts of Bangladesh Securities and Exchange Commission (BSEC) for illegal interference and influence in the selection process of foreign strategic partner for Dhaka Stock Exchange (DSE).

In a press statement released on Friday, TIB Executive Director Dr Iftekharuzzaman claimed that a certain Indian firm is interfering in the selection process of foreign strategic partner for the DSE.

Read more: DSE, BSEC at loggerheads over strategic partner

“It is disappointing, unexpected and unethically interference and influencing of the DSEC process to select experienced and skilled foreign partner to execute its plan to develop the share market," Iftekharuzzaman said.

The organisation also called upon the BSEC to refrain from such unethical interfering to deal with the matter for the sake of the country's share market.

The TIB also urged the authorities concerned to blacklist the organisation that is trying to influence the selection process.

The BSEC officials involved in the illegal interference will have to be held accountable for their interference and influence, he added.

“Only a qualified and the foreign organisation those have a good reputation, the highest bid should be chosen as a strategic partner and shares should be sold to the firm according to its own regulations,” he said.

Dr Iftekharuzzaman, in the statement, said that it would be a clear violation of the law if the highest bidder is not chosen as the strategic partner.

It would raise questions both in foreign and domestic sectors if the highest bidder is not chosen, he said.

The current catastrophe over selecting the strategic partner has raised uncertainty and unrest among investors and shareholders of the DSE, he said.