Bangladesh regulator fines trio over insurance share manipulation

Bangladesh’s securities regulator has fined three investors Tk 73.76 lakh (approximately $59,800) for manipulating Trust Islami Life Insurance shares, according to The Business Standard.

Bangladesh Securities and Exchange Commission (BSEC) penalized Md Abu Taher Shikder, his wife, Umma Salma Nipa, and his brother-in-law, SM Shahed Shakil, in an Oct. 5 enforcement order.

A Dhaka Stock Exchange investigation found the insurer’s closing share price rose 131.11% between June 1 and Aug. 28, 2025. BSEC said the trio used series trades and circular counterparty transactions, including 46 matched instances involving 172,000 shares, to create misleading activity and inflate the price.

The regulator said the trading produced Tk 2.82 crore (approximately $228,700) in realized gains and more than Tk 5.08 crore (approximately $412,000) in unrealized gains. It rejected claims that matching orders were accidental and ordered payment within 30 days.