The government on Tuesday formed a three-member committee headed by the Bangladesh Krishi Bank chairman, Khandkar Ibrahim Khaled, to investigate share market scam, the finance minister, Abul Maal Abdul Muhith, said.
‘The name of the other two members and terms of reference of the committee will be announced on Wednesday,’ Muhith told the reporters after a meeting of the executive committee of the National Economic Council at the NEC building.
‘The committee will investigate the problems and irregularities in the share market. It will start its activities on Thursday and submit a report within three months,’ he said.
The finance minister said that a proposal for including two more persons in the committee was put forward, but they had been excluded from the body due to their involvement in the capital market.
He said that the committee could include more members if necessary.
Khandkar Ibrahim Khaled, who is also a former deputy governor of Bangladesh Bank, on Tuesday evening, told New Age that he was not informed of the decision of the government.
Muhith said that the committee was formed hurriedly with the approval of the prime minister, who would leave Dhaka for London on Tuesday evening.
Replying to a question as to whether the steps taken by the government to stablise the share market were sufficient, Ibrahim said that trading on the share market started again and it was important to continue it.
Ibrahim while speaking to New Age on Sunday blamed a clique of politicians and businessmen for the recent slump in share prices.
The general indexes of Dhaka and Chittagong Stock exchanges lost around 30 per cent in last one and a half months because of heavy slides in the share prices.
Thousands of investors staged street demonstration and clashed with police in protest against the heavy slides and demanded resignation of the finance minister, Securities and Exchange Commission chairman, DSE president and Bangladesh Bank governor for their failure to stabilise the market.
Following the protests, the government suspended trading at the two bourses on Sunday and Monday and took some decisions including formation of a probe committee to build confidence among investors.