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Baseless Rumors Circulate Against BSEC Chairman to affect the Stock Market

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In recent months, the volatility in the country’s stock market has started to ease, bringing some relief to investors. In the past week, investors in the stock market have seen their capital grow by over 3 thousand crore taka. Trading activity has also increased, with transactions exceeding 1 thousand 140 crore taka.

Simultaneously, all key economic indicators have shown an upward trend, crossing last week’s threshold. When investors began to see the light of hope, a disruptive element emerged in the stock market, causing a significant downturn. A rumor mill has been churning out various speculations about this within social media groups dedicated to stock market discussions. The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibali Rubayat-ul-Islam, has become the focal point of these speculative narratives. These rumors are being disseminated through various Facebook-based stock market groups. This information has been gathered from reliable sources.

According to sources, the United States State Department has announced a new visa policy. In an announcement on Friday (September 22) evening, Matthew Miller, the spokesperson for the US Department of State, revealed this information. The United States has declared this new visa policy with the aim of ensuring a free, fair, and peaceful national election in Bangladesh. The policy mentions the possibility of imposing visa restrictions on individuals and entities associated with institutions related to Bangladesh’s upcoming 12th National Parliament election. It’s important to note that no one in Bangladesh’s stock market is directly involved in election management. Therefore, analysts believe there is no likelihood of the visa policy being applied to the Bangladesh Securities and Exchange Commission (BSEC) or its personnel.

It is known that, even though the spokesperson of the US Department of State did not mention any individual’s name, false information is being spread through various fake Facebook accounts, causing confusion. Within this context, a deceptive cycle is spreading rumors about the Chairman of the BSEC (Bangladesh Securities and Exchange Commission) through a fake account by the name of “Jamil Ahmod.” This account claims that Professor Shibali Rubayat-ul-Islam’s American visa has been canceled, alleging that he has lost her entry privileges to the United States. However, when the United States imposes a visa restriction on someone, they do not disclose the person’s name, but they are privately notified. Therefore, this matter is considered entirely baseless and a product of misinformation by those involved.

In the comments section of Jamil Ahmod’s post, there are mixed reactions. A person named Jahirul Islam Jahi commented, “Why did he engage in election tampering?” Another individual with the name Al Riad remarked, “Fake. He will never come under its purview.” Someone named Shahjahan added, “Completely false and baseless gossip, and motivated by ill intentions. Prof Rubaiyat has no knowledge of elections whatsoever.” Additionally, several comments on the post have criticized and condemned those spreading gossip and misinformation, drawing the attention of law enforcement agencies to their actions.

It is known that on May 24th, the United States announced a new visa policy with the goal of ensuring a free, fair, and peaceful national election in Bangladesh. On that day, US Secretary of State Antony Blinken stated in a press release that under the new policy, the United States will not grant visas to individuals or entities in Bangladesh responsible for obstructing or interfering with the democratic election process. Yesterday, the spokesperson for the US Department of State, Matthew Miller, clarified that the visa policy encompasses law enforcement agencies, powerful groups, and members of opposing parties.

Primarily, the United States has announced a visa policy aimed at ensuring a free, fair, and peaceful national election in Bangladesh. According to statements from Antony Blinken and Matthew Miller, this policy will restrict the issuance of US visas to individuals and entities in Bangladesh who are responsible for obstructing or interfering with the democratic election process. It’s important to note that Bangladesh’s stock market or its regulatory authority has no direct involvement in the country’s elections. Therefore, it is believed by market stakeholders that neither the Chairman of the Bangladesh Securities and Exchange Commission (BSEC) nor any individuals or organizations associated with the stock market will be affected by the US visa restrictions.

Regarding this matter, when asked, Bangladesh Merchant Bankers Association (BMBA) President Md. Sayadur Rahman told Orthosongbad that if there is no reliable information, these are rumors. BSEC has nothing to do with elections. BSEC is not a direct organization of the government. BSEC is not involved in elections or operational issues of the government. So why should they be brought under the visa ban? It seems to me, it is a completely rumor. Investors should not panic over these rumors and invest based on proper information.

Also inquiring about this from Abdur Razzak, General Secretary of Bangladesh Capital Market Investors Oikya Parishad, told Orthsoongbad that he does not think the US visa policy will be applied to the BSEC chairman. Because he is not an official of any organization related to the election of the country. It is possible that some individuals are spreading such gossip for their own interests.

The leader of the Investors’ Council also stated that regardless of who holds the position of BSEC Chairman, whether they are a practitioner, educator, or anyone else, no one can perform their duties one hundred percent correctly. However, at present, the person holding the position of BSEC Chairman is performing well.

 

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DSE Break Thru 3-Days Losing Streak Despite Sluggish Turnover

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Dhaka Stock Exchange DSE, Bourse on the fourth working day of the week, 12th June, ended with a hike in Indices and drop Turnover from the previous working session. This information is known from DSE sources.

350 crore 79 lakh taka shares were traded on this day. 80 crore 84 lakh less tradings were done in DSE today compared to the previous workday, June 11th, Shares worth Tk 431 crores 64 lakh shares were traded last time, Tuesday

The benchmark DSEX increased 13.17 points or 5,083 The Shariah-based index DSES added 7.13 points or 1,100, and the blue-chip index DS30 gained by 9.12 points or 1,812.

Of the issues traded, 161 advanced, 168 declined and 66 remained unchanged.

Samata Leather Complex Limited ranked top gainer on DSE, the share price increased by Tk 4.40 paisa or 9.98 percent. On this day, the share was last traded at Tk 48.50 paisa.

Delta Life Insurance Company Limited ranked top loser on the DSE, the share price dropped by Tk 2.90 paisa or 3.68 percent. On this day, the share was last traded at Tk 75.80 paisa.

DSE topped on trade is Unilever Consumer Care (Bangladesh) Limited 17 crore 87 lakh takas of company shares have been traded.

A total of 45 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 80 lakh 76 thousand 693 shares of the companies were traded. The financial value of which is 50 crore 38 lakh taka

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Popular Life Insurance announce their Dividends

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One of the Listed companies, Popular Life Insurance Limited has recommended 37% Cash Dividend for the year ended December 31, 2023.

In terms of financial performance, The Company has also reported Consolidated EPS  of Tk. 3.70 for the year ended December 31, 2023. NAV per share of Tk. 91.20.

The Annual General Meeting (AGM) of the company will be held on September 24, through the digital platform. The record date for this has been fixed at July 25.

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Indices on 3-Day Losing Streak

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Dhaka Stock Exchange DSE, Bourse on the third working day of the week, 11th June, ended with a drop in Indices and hike Turnover from the previous working session. This information is known from DSE sources.

431 crore 64 lakh taka shares were traded on this day. 112 crore 86 lakh more tradings were done in DSE today compared to the previous workday, June 10th, Shares worth Tk 318 crores 78 lakh shares were traded last time, Monday

The benchmark DSEX decreased 35.87 points or 5,070 The Shariah-based index DSES lost 9.87 points or 1,093, and the blue-chip index DS30 lost by 8.72 points or 1,803.

Of the issues traded, 51 advanced, 308 declined and 35 remained unchanged.

Sunlife Insurance Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 7.52 percent. On this day, the share was last traded at Tk 57.20 paisa.

Eastland Insurance Company Limited ranked top loser on the DSE, the share price dropped by Tk 0.60 paisa or 3.00 percent. On this day, the share was last traded at Tk 19.40 paisa.

DSE topped on trade is Beacon Pharmaceuticals Limited 72 crore 35 lakh takas of company shares have been traded.

A total of 46 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 43 lakh 57 thousand 887 shares of the companies were traded. The financial value of which is 31 crore 81 lakh taka

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