Staff Correspondent 

Chief Adviser Professor Muhammad Yunus on Sunday gave five specific directives to address the issues related to the country's capital market and keep it vibrant through necessary quick reforms. 

After the meeting, Chief Adviser's Press Secretary Shafiqul Alam told reporters that Prof Yunus gave five major directives. 

Finance Adviser Dr Salehuddin Ahmed and stakeholders of the country’s capital market were present at the meeting, held at the State Guesthouse Jamuna. 

"The Chief Adviser listened to them and gave necessary directives. We hope to see real and meaningful reforms in the stock market very soon," Press Secretary Alam said. 

Bangladesh Securities and Exchange Commission Chairman Khondoker Rashed Maqsood gave a broader picture of the capital market and highlighted the efforts that are underway.

The Chief Adviser said people's trust will not be restored unless those involved in the past few decades of destabilising the stock market through looting are brought to justice.

He said the state of the stock market that has been brought to is unimaginable. "We must overcome this situation. The necessary reforms in the stock market must be carried out to restore it to a state where people regain trust and it does not become a den of looters."

Five Directives

Take necessary steps to reduce the government's shareholding in government-owned multinational companies and include them in the capital market;

Take necessary steps, including incentives, to encourage large domestic companies in the private sector to list in the capital market;

Bring in foreign experts to reform the capital market within three months to prevent manipulation by vested interests;

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 Take strict action against everyone involved in irregularities in the capital market;

And taking measures to encourage business organizations that require large loans to reduce their dependence on bank loans and raise funds from the capital market through bonds and equities.