The probe committee on the stock market debacle in January will submit its report by the end of this month, the committee chief, Khondokar Ibrahim Khaled, told New Age on Monday.
The committee had conducted investigations for the past three months, while it had talked to at least 100 people of different professions, including members of Dhaka and Chittagong stock exchanges, leaders of the Association of Bankers, Bangladesh, journalists, and other people related to the stock market.
Committee sources said the investigation had been completed and the committee was now drafting the report.
Although Ibrahim Khaled, who is also the chairman of Krishi Bank, declined to make any comment on the outcome of the probe, committee sources said they detected incidents of unusual trading, which had led to the stock market crash, by a number of known and unknown figures, including politicians belonging to both the ruling Awami league and the main opposition Bangladesh Nationalist Party, businessmen, government officials, and bankers.
Following massive plunges in share prices on Dhaka and Chittagong bourses, the government on January 26 formed the 3-member investigation committee headed by Ibrahim Khaled and with Bangladesh Institute of Bank Management director general Toufic Ahmad Choudhury and Institute of Chartered Accountants of Bangladesh former president Abdul Bari as its members.
The committee was asked to submit its report within two months but later the time was extended for one more month. Nihat Kabir, a Supreme Court lawyer, was also included in the committee.
The committee was asked to find the causes of the massive overpricing of share as well as frequent ups and downs of share prices in the previous two years.
It was also tasked with identifying the people and institutions that had withdrawn large amounts of money in unusual ways by taking advantage of the overheated market through direct listing, book-building, and fixed price methods of initial public offering.
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