The Bangladesh capital market has been experiencing a prolonged period of stagnation. While global markets declined during the COVID-19 pandemic, investor interest in Bangladesh’s stock market increased significantly, leading to a surge in Beneficiary Owner (BO) accounts.

However, from mid-2021 onwards, the number of BO accounts began to decline. Despite a slight increase in some months, a steady exodus of investors has been observed. In the first nine months of 2025, approximately 30,000 investors left the market, and nearly 32,000 BO accounts became shareless.

In total, this means that 62,110 investors became inactive in the capital market within just nine months.

Analysis of data from Central Depository Bangladesh Limited (CDBL) shows:

• Male BO accounts: 1,241,476 (Dec 2024: 1,261,198) → decrease of 19,722
• Female BO accounts: 393,020 (Dec 2024: 403,755) → decrease of 10,735

Among these, domestic investors’ BO accounts fell by 27,567, while foreign and expatriate Bangladeshi accounts decreased by 2,890, bringing their total to 43,801 by 30 September.

A CEO of a local brokerage house explained to Dhaka Post:

“There is a long-standing fear among investors. The regulatory authorities have not taken substantial measures to restore confidence. The absence of any new Initial Public Offerings (IPOs) for a long time has also contributed. These factors have pushed many investors away from the market.”

Despite the decline, Saiful Islam, President of the DSE Brokers Association of Bangladesh (DBA), remains optimistic:

“The annual fee for maintaining BO accounts has been reduced, which will help retain investors. The regulatory authority is also taking steps to improve the market in the long term. Once these measures begin to show results, investor confidence will increase.”