Bangladesh’s capital market is in a severe crisis today. For more than a year, no new company has received approval for an Initial Public Offering (IPO). As a result, the industrial sector has been cut off from market-based financing for a long time. This stagnation is obstructing business expansion, while small investors are facing losses one after another.
The Picture of Investor Losses
According to recent Dhaka Stock Exchange (DSE) data, between mid-2024 and mid-2025, the market capitalization fell by nearly 850 billion taka. Around 3 million small investors have been affected. Many of them had broken savings certificates or taken bank loans to invest in the stock market. Now they are on the verge of losing everything.
A Retail Investor’s Complaint
“Under an illegal government, the stock market cannot be trusted. Putting money here only guarantees losses.”
Stagnation and Abuse in IPOs
Over the past few years, many companies that raised funds through IPOs diverted the money to other sectors instead of using it for business expansion. Some companies prioritized their own interests without increasing profits. Weaknesses and negligence in the regulator’s approval process have worsened the situation further.
Analysts say that approvals were granted merely based on paperwork and strategies, without ensuring the safety of investors’ money. This, they argue, is clearly the result of government failure and undue influence.
The Responsibility of the Illegal Government
The incompetence, lack of policy, and indifference of the interim illegal government have paralyzed the capital market. Entrepreneurs are now unwilling to invest because every government decision carries uncertainty and chaos.
A top market analyst expressed his anger:
“As long as this illegal government remains in power, no businessman will take the risk of making new investments. The aversion to the market will only grow.”
A Negative Signal for the Economy
With the capital market stagnant, new employment opportunities in industry are not being created, and production growth is being hampered. Losses amounting to hundreds of billions of taka for investors are further weakening the national economy.
Because of the illegal government’s failures and incompetence, the country’s economy now stands at the brink of collapse. The erosion of confidence in the stock market is not only a disaster for investors but also a dire warning for the nation’s future.
