DSE launches project to go paperless

The Dhaka Stock Exchange (DSE) has initiated a project as part of its efforts to go paperless in order to reduce hassles and cut the expenses for the bourse and its stakeholders.

The project will cost Tk 47 lakh, and the premier exchange of Bangladesh will receive service from Indian business solution provider Addteq under the initiative.

"The DSE is digitised but not digitalised, so we are now working to do that. Making the bourse paperless is aligned with it," said Tarique Amin Bhuiyan, managing director of the DSE, at the launching event at the exchange in the capital.

"We are going to be paperless eventually. Now, it has started and I hope the full paperless activities will be seen within the current year."

Thanks to the paperless initiative, anyone will be able to work from remote locations, and the works for the DSE and its stakeholders will be easy, hassle-free and time-saving, Bhuiyan added.

DSE Chairman Md Eunusur Rahman said he heard that the DSE was 100 per cent automated, but in reality, it was not.

"With the direction of the new commission of the stock market regulator, we are working to digitalise the bourse and the situation has improved significantly," he said, adding all stakeholders will reap the benefits.

"But, we have a long way to go, especially to bring back confidence among investors."

Rahman said the country has made impressive strides in many sectors, but it still lags in the insurance sector and the stock market. People still don't have full faith in the sectors.

Saifur Rahman, an executive director of the Bangladesh Securities and Exchange Commission, Salma Nasreen and Shakil Rizvi, DSE directors, Richard D' Rozario, president of the DSE Brokers Association of Bangladesh, Md Sayedur Rahman, president of the Bangladesh Merchant Bankers Association, and Ziaur Rahman, president of the Capital Market Journalists' Forum, also spoke.