Bangladesh’s capital market now resembles a sinking ship. Over the past nine months of devastating decline, nearly 62,000 small investors have fled the market. Many have closed their BO (Beneficiary Owners) accounts, while others have sold all their shares and left empty-handed. This mass exodus of investors clearly shows that under an illegal and undemocratic government, the very foundation of the country’s economy — the capital market — is suffering from a deep crisis of confidence and uncertainty.
At the root of this crisis lies the interim administration that has seized power since the bloody events of July. When Dr. Yunus and his team took control by ousting the elected government through an abnormal process, instability began to engulf the market — a price that small investors are now paying dearly.
The Statistics Behind 62,000 Broken Dreams
According to data from the Central Depository Bangladesh Limited (CDBL), this exodus of investors from the country’s stock market reflects a deep erosion of confidence. Nine months ago, there were 1.682 million BO accounts. The number has now fallen to 1.632 million. In other words, about 50,000 investors have directly left the market. In addition, there are around 32,000 accounts that currently hold no shares — empty portfolios. Altogether, more than 62,000 investors have either closed or deactivated their accounts. These numbers are not just statistics; they represent the shattered hopes of countless middle-class families.
Experts say it is now evident what happens when a man like Yunus — known for his Grameen Bank microcredit model of collecting high-interest money from poor people — takes charge of a sensitive sector like the capital market. Investors cannot place their trust in a government whose legitimacy itself is under question.
Foreign Investment Dries Up
Just like domestic investors, foreign investors are also turning away from the Bangladeshi market. The decline in foreign holdings in major companies such as British American Tobacco (BAT), Beximco Pharma, and Renata indicates growing skepticism in international markets.
Market insiders say that those who came to power after the July incidents — backed by foreign financing and military support — are not focused on economic stability. Their main goal, they allege, is to maintain instability to serve special interests.
Policy Vacuum and Regulatory Paralysis
According to Dhaka Stock Exchange (DSE) Director Minhaz Mannan Emon, punishing one or two individuals will not restore confidence in the market. “Investors put money in expectation of profit, not loss,” he said. Yet under the Yunus administration, there is no concrete economic policy or roadmap. Lofty announcements and unrealistic promises alone cannot rescue the market.
As a result, brokerage houses are struggling to survive, and layoffs are becoming routine. This is not just a market issue — it signals a broader economic slowdown.
The Securities and Exchange Commission (SEC) has also failed to take effective measures. Under an unelected government, no regulatory body can function independently. Regulators are uncertain whose directives to follow. When a government’s legitimacy is in doubt, every decision it makes becomes questionable.
Ordinary People — The Real Victims
Those who came to power with the backing of military and extremist forces are not prioritizing economic stability. Their sole objective appears to be clinging to power at any cost.
The biggest victims of this instability are ordinary citizens — those who invested their hard-earned savings in the stock market, dreaming of funding their children’s education or building homes. Now they are watching their investments vanish day by day.
The collapse of the stock market is, in fact, a reflection of Bangladesh’s deepening political and economic crisis. Investors — both local and foreign — seek stability and predictability. But under Yunus’s controversial rule, neither exists.
Market analysts warn that as long as this unlawful administration remains in power, uncertainty will persist across all sectors of the economy. Capital will continue to flow out, foreign investment will decline, and ordinary people will bear the heaviest burden — through lost jobs, broken dreams, and diminished trust. Yunus and his team may satisfy foreign patrons, but to the people of Bangladesh, they will stand as yet another symbol of failed leadership.
