Dhaka, Bangladesh (BBN)– The probe committee on share market debacle submitted its report to Finance Minister AMA Muhith Thursday morning with recommendations on forming a task force and reforming the Securities and Exchange Commission (SEC).

Bangladesh Krishi Bank Chairman Khondkar Ibrahim Khaled, the head of the committee, submitted the report to the finance minister around 9:30am on Thursday at his residence, according to reports.

Under terms of reference (TOR), the committee would find the reasons behind the overpricing of shares over the last two years. It would also identify the people and the institutions that withdrew unusually high amount of money taking advantage of the overpriced market through direct listing, book building and fixed price.

BBN/SSR/AD-07Apr11-12:56 pm (BST)