The Bangladesh Securities and Exchange Commission (BSEC) has withdrawn the floor prices for Beximco and Islami Bank shares, according to an order signed by BSEC Chairman Masud Khan on Monday. The decision will take effect from Tuesday, and both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) have been instructed to implement the directive. Following the withdrawal, the share prices of the two companies will now be determined by market forces.

This move comes on the fifth day of Masud Khan’s tenure as BSEC chairman. After his appointment on June 4, he had announced plans to remove floor prices for listed companies and stated that such measures would not be imposed again in the future. Floor prices had previously been used to artificially maintain share values, with Beximco’s floor set at 100.10 taka and Islami Bank’s at 32.60 taka.

The BSEC stated that the decision aims to support capital market development and protect investor interests. It also reaffirmed that all listed securities will now follow the circuit breaker limits set by the June 17, 2021 directive, allowing daily price movements of up to 10 percent.