# Dhaka Stock Exchange

The Dhaka Stock Exchange (DSE) (Bengali: ঢাকা স্টক এক্সচেঞ্জ Dhaka stôk ekschenj), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership with trading technology.

## History

It was first incorporated as East Pakistan Stock Exchange Association Ltd on 28 April 1954 and started formal trading in 1956. It was renamed as East Pakistan Stock Exchange Ltd on 23 June 1962. It was again renamed as Dacca Stock Exchange Ltd on 13 May 1964. After the liberation war in 1971 the trading was discontinued for five years. In 1976 trading restarted in Bangladesh, and DSE was started on 16 September 1986. The formula for calculating DSE all share price index was changed according to IFC on 1 November 1993. The automated trading was initiated on 10 August 1998 and started on 1 January 2001. A central securities depository system was initiated on 24 January 2004.
As of 16 November 2009, the benchmark index of the Dhaka Stock Exchange (DSE) crossed 4000 points for the first time, setting another new high at 4148 points. In 2010, the index crossed 8500 points and finally crashed in the first quarter of 2011. Millions of investors lost their money and came out onto the street, blaming the speculators and regulators for the bubble that finally burst in what became known as the 2011 Bangladesh share market scam. Currently, there are 22 industrial sectors in DSE which accommodate 625 listed companies.

## Formation

Dhaka Stock Exchange (DSE) is a public limited company. It is formed and managed under Company Act 1994, Security and Exchange Commission Act 1993, Security and Exchange Commission Regulation 1994, and Security Exchange (Inside Trading) regulation 1994. The issued capital of this company is Tk. 500,000, which is divided up to 250 shares each pricing Tk. 2000. No individual or firm can buy more than one share. According to the stock market rule, only members can participate on the floor and buy shares for themselves or their clients. At present, it has 238 members. The market capitalization of the Dhaka Stock Exchange reached nearly $9 billion in September 2007 and $27.4 billion on 9 December 2009.

## Management

The management and operation of Dhaka Stock Exchange is entrusted to a 25 members board of directors. Among them, 12 are elected from DSE members, another 12 are selected from different trade bodies and relevant organisations. The CEO is the 25th ex officio member of the board. The government has appointed Shibli Rubayat Ul Islam, who teaches banking and insurance at Dhaka University, as the chairman of Bangladesh Securities and Exchange Commission, reports bdnews24.com.
The following organisations are currently holding positions in DSE Board:
* Bangladesh Bank
* ICB – Investment Corporation of Bangladesh
* President of Institute of Chartered Accountants of Bangladesh
* President of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI)
* President of Metropolitan Chamber of Commerce and Industry, Dhaka and Industries
* Professor of Finance Department of Dhaka University
* President of Dhaka Chamber of Commerce & Industry (DCCI).

## Trading hours

The Dhaka Stock Exchange is open for trading Sunday through Thursday between 10:00 am – 2:30 pm BST, except for holidays declared by the exchange in advance. In the month of Ramadan, the exchange is open for trading between 10:00 am – 2:00 pm BST.
There are a total of 651 Securities and 397 companies listed on this Stock exchange. The listing provides an exclusive privilege to securities in the stock exchange. Only listed shares are quoted on the stock exchange. A stock exchange facilitates transparency in transactions of listed securities in perfect equality and competitive conditions. Listing is beneficial to the company, to the investor, and to the public at large.
The trading indices are DSE Broad Index (DSEX), DSE Shariah Index (DSES), DSE 30 Index (DS30), CDSET.

## 2010–11 crash

The bullish market turned bearish during November 2010, with the exchange losing 1,800 points between December 2010 and January 2011. Millions of investors have been rendered bankrupt as a result of the market crash. The crash is believed to be caused artificially to benefit a handful of players at the expense of the big players.

## List of chairpersons

| Sn. | Name | Term Starts | Term Ends | Ref. |
| 1 | Ahmad Fazlur Rahman | 1972 | 1975 | Official Website |
| 2 | Khurshid Alam | 27 February 1976 | 6 August 1979 | Official Website |
| 3 | Nur-E-Alam Siddique | 6 August 1979 | 6 November 1980 | Official Website |
| 4 | Khwaja Abdul Quddus | 6 November 1980 | 18 March 1981 | Official Website |
| 5 | Nur-E-Alam Siddique | 18 March 1981 | 22 December 1981 | Official Website |
| 6 | Khwaja Abdul Quddus | 22 December 1981 | 24 March 1983 | Official Website |
| 7 | Khurshid Alam | 24 March 1983 | 18 December 1985 | Official Website |
| 8 | Hemayet Uddin Ahmed | 18 December 1985 | 6 January 1987 | Official Website |
| 9 | Kazi Firoz Rashid | 6 January 1987 | 23 March 1990 | Official Website |
| 10 | Khwaja Abdul Quddus | 23 March 1990 | 20 Jun 1991 | Official Website |
| 11 | Aminul Islam Khan | 20 Jun 1991 | 7 October 1993 | Official Website |
| 12 | Khurshid Alam | 7 October 1993 | 6 December 1995 | Official Website |
| 13 | Imtiyaz Husain | 6 December 1995 | 11 May 1997 | Official Website |
| 14 | M. A Huq Howlader | 11 May 1997 | 24 December 1997 | Official Website |
| 15 | Md. Rakibur Rahman | 24 December 1997 | 30 March 2000 | Official Website |
| 16 | Md. Shahiq Khan | 30 March 2000 | 28 March 2002 | Official Website |
| 17 | Ahmed Iqbal Hasan | 28 March 2002 | 28 December 2003 | Official Website |
| 18 | Md. Shahiq Khan | 17 February 2005 | 7 February 2006 | Official Website |
| 19 | Md. Abdullah Bokhari | 7 February 2006 | 15 May 2008 | Official Website |
| 20 | Abdul Haque | 15 May 2008 | 28 February 2009 | Official Website |
| 21 | Md. Rakibur Rahman | 28 February 2009 | 27 March 2010 | Official Website |
| 22 | Md. Shakil Rizvi | 27 March 2010 | 15 March 2012 | Official Website |
| 23 | Md. Rakibur Rahman | 15 March 2012 | 15 Jun 2013 | Official Website |
| 24 | Ahasanul Islam | 15 June 2013 | 13 February 2014 | Official Website |
| 25 | Justice Siddiqur Rahman Miah | 14 February 2014 | 13 February 2017 | Official Website |
| 26 | Abul Hashem | 14 February 2017 | 12 February 2020 | Official Website |
| 27 | Md. Eunusur Rahman | 24 February 2020 | 18 February 2023 | Official Website |
| 28 | Hafiz Md. Hasan Babu | 5 March 2023 | | Official Website |