Bangladesh, Oct. 12 -- Non-operational companies listed on the Dhaka Stock Exchange (DSE) number as many as 37, with five joining the group this year, heightening concerns about regulatory oversight and investor protection.

C&A Textiles is the latest addition after a DSE inspection team found its factory closed last week, according to a disclosure by the stock exchange.

DSE data show that 36 listed companies went out of operation between 2016 and Sunday, while Meghna Pet Industries has remained shut since 2002, making it the longest-closed company among listed firms.

The list of non-functional companies becomes even longer when troubled financial institutions are taken into account. Five listed Islamic banks have already merged, while...