An online platform called Smart Submission System of DSE has been developed by Dhaka Stock Exchange (DSE), the main stock market of the country. With this, various companies will be able to automatically disclose price sensitive information in accordance with the securities rules and will be managed through various compliances.
The platform was inaugurated at a function organized at DSE on Monday (February 12).
According to DSE, it has developed an online platform for integrated online data collection, submission of all data, price sensitive information, direct payment of financial statements to increase transparency and efficiency of compliance of various securities laws of listed companies.
This platform is a big step for the country’s technology-based capital market. Transparency and accountability of the country’s capital market will increase through online submission of information.
Chairman of DSE Professor Dr. was present as the chief guest in the event. Hafiz Muhammad Hasan Babu. BAPLC President Rupali Haque Chowdhury and DBA President Saiful Islam were present as special guests. Also present was the managing director of DSE. ATM Tarikuzzaman and Chief Regulatory Officer Khairul Bashar Abu Taher Mohammad
DSE Chairman Prof. Dr. Hafiz Muhammad Hasan Babu said that smart economy is one of the four components of the Prime Minister’s implementation of Smart Bangladesh. And the two sectors of smart economy are capital market and money market. Today’s issue is not only to fulfill the Prime Minister’s goal, but it will work as a part of creating a smart capital market.
He said that capital market plays a role in the economy in other countries but unfortunately it does not happen in Bangladesh. In order to build a smart Bangladesh in the future, the capital market must be moved forward. Which has not happened yet. Because the mega projects of our country are being financed through banks. It is done through the capital market in developed countries. As the capital market grows, it also contributes to the development of the country.
He also said that to make the capital market smart, its operations should be made paperless. And that paperless journey has started today with the launch of this platform. Meanwhile, DSE is building its own smart data center. In that case, the capital market with Bangladesh is moving towards smart, DSE has started since last year. Today was its second initiative.
Babu said that one of the elements of capital market is to get the information of stakeholders correctly. If that cannot be taken then modern capital market will not be possible. The process of taking that information smartly has been started from today. In this, information will be available at the right time and various initiatives and decisions can be taken at the right time. If we can work together with everyone to develop the capital market, then we will have to implement the Prime Minister’s Smart Economy.
DSE managing director Dr. ATM Tarikuzzaman said that the capital market took another step forward as the smart submission system was introduced as part of the Prime Minister’s Smart Bangladesh goal. Listed companies will now be able to easily disclose accurate information through the Smart Submission System. The risk of willingly and unwillingly providing and disclosing wrong information will no longer exist and any irregularities will be easily identified.
In those days various information of the company was submitted manually. This would have resulted in the possibility of unintentional mistakes. Launching this software will solve this problem. And this will make compliance easier. At the same time information gap and irregularities will be reduced – said MD of DSE.
President of BAPLC Rupali Haque Chowdhury said that time will be saved as the opportunity to submit information online has been created. By doing this, the information of companies listed in the capital market can be reached at the earliest. However, if there is a problem in the system, there should be a solution to it immediately. So that the system does not stop working due to problems.
Saiful Islam, president of DBA, said that the information of the listed companies should be ensured in any way so that the information of the listed companies is not disclosed and omitted in any way in order to develop the stock market. Care should be taken to ensure that no one can make unethical profit from the market and cause loss by giving wrong and false information. Many thanks to Dhaka Stock Exchange for this initiative today. It has started a very important topic.
He said, currently the chairman of DSE is an IT expert. So it will be unfortunate if DSE’s IT platform is deficient in future. Besides, this is the first time that the Chinese have cooperated in a project since they became strategic investors. However, the information of the companies is properly verified and disclosed. Then all purposes will be fulfilled.
MAS/MIHS/MS
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