Stock market regulator chairman has given warnings of foul play saying they are using modern surveillance software to detect gambling in stock market.

He said they are using the latest surveillance software from Sweden in our country now to catch frauds, said Prof Shibli Rubayat Ul Islam, chairman of Bangladesh Securities and Exchange Commission (BSEC).

"None will be spared after gambling."

His comments came yesterday in an event that was organised by Innovation and Development Associates (IDEA), a platform of former secretaries of the government, through online platforms. The topic was how the stock market can be a source of long-term financing of industrialisation.

"We are strengthening the state-run investment bank Investment Corporation of Bangladesh so that players can't play in the stock market beating them," he said, adding, "We are strengthening the ICB to higher rates so that no one can cause foul  play easily."

The ICB is forming a stock market stabilisation fund, the chairman said.

If shareholders come with proper documentation, they can take their money but till then, it would be utilised for the stabilisation of the market.

To strengthen the stock market, well-performing companies will be needed in the stock market, said Commerce Minister Tipu Munshi.

Investors also need to invest considering the listed companies' performance in order to make profit from the market.

To catch gamblers in the market, the regulator should be cautious and strengthen its surveillance, said Arif Khan.

"Gamblers should be punished," he added.

Arif, who is also former commissioner of the BSEC, recommended the formation of a merger and acquisition policy to attract foreign and institutional investors.

Ahsan Mansur, executive director of Policy Research Institute, Md Ashadul Islam, senior secretary of Financial Institution Division, Azam J Chowdhury, chairman of East Coast Group, and M Mosharraf Hossain, chairman of Insurance Development and Regulatory Authority (IDRA) also spoke at the event.

Aminul Islam, former executive chairman of Bangladesh Investment Development Authority, chaired the session.