Commentary

Commentary : Break their power and make them refund the stolen money

The inquiry committee on the share market scam has bravely make them refund the many bravely pointed its fingers at some 60 individuals, associated with the Awami League, the BNP and some business organisations for making fortunes through market manipulations, and the head of the committee has said any of them can be tried under the existing laws of the Securities and Exchange Commission.

The committee members more particularly its chairman Mr Ibrahim Khaled deserve plaudits for their courage in the midst of so many willing to show slavish submission to the powerful ones no matter how unpatriotic such an act is.

The committee has alerted the government high-ups against the influence of market players including business tycoons Salman F Rahman and Rakibur Rahman, Khondker Ibrahim Khaled, head of the probe body said adding the government should keep an eye on top market players so that they cannot influence the SEC.

“In the report, we have detailed on how the regulator (SEC) should conduct further investigation into the scam,” Khaled has been quoted as saying. The SEC has to be completely restructured and its current leadership removed, he added.

Over three million small investors lost at least Tk 20,000 crore to dishonest traders, who were in a deep collusion with stock market regulators. Direct listing alone accounted for Tk 5,000 crore going into private pockets, and Tk 15 crore was pocketed by manipulators. The four-member committee headed by Khondker Ibrahim Khaled, former deputy governor of Bangladesh Bank, submitted its 320-page report to the Finance Minister on Thursday. [Read More]

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Source: The New Nation - Independent Daily


 

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