Refrain from whimsical stock market investment: PM
UNB
Prime Minister Sheikh Hasina yesterday stressed the need for making well-thought-out investment in the capital market and not to do anything whimsically based on rumours, reports UNB. Financial literacy is essential to protect people from whimsical investment in the capital market, she said. The Prime Minister said this while inaugurating countrywide Financial Literacy programme at Bangabandhu International Conference Center (BICC) organised by Bangladesh Securities and Exchange Commission (BSEC). Hasina said many investors cannot analyse appropriately the financial statement and other information and they become loser depending on rumours and assumption and they have a tendency to blame the government and the Finance Minister for their losses.
Following the introduction of financial literacy, the Prime Minister hoped that the investors would be benefited and the capital market of the country would be infused with more dynamism.
Besides, she said, the investors would be able to make profits by making decisions considering their financial capability and probability of getting benefits.
The Prime Minister reassured that her government will continue its efforts for sustainable development of the capital market. She said her governments aim is to make the country free from poverty as the economic emancipation is the only key to that end. So, for further flourishing of the capital market, were always expanding our hands for all types of cooperation. The Prime Minister also mentioned that her two consecutive governments since 2009 have taken various types of initiatives for the establishment of a stable, transparent and accountable capital market. As a result, the stability of the capital market has been established as well as the confidence of investors from home and aboard has bolstered, she said.
BSEC Chairman Dr M Khairul Hossain delivered the welcome speech while Finance Minister AMA Muhith spoke as the special guest. The aim of the Financial Literacy Program is to provide financial education to each and every person of Bangladesh. BSEC took the initiative to make individuals understand at their level of needs the role of money in their lives, the need and use of savings, the advantages of using formal financial sectors, various ways to convert their savings into investments, develop self-protection through understanding risks and a realistic recognition of the attributes of these options.
Earlier, the Prime Minister inaugurated the newly-built building for the BSEC in the citys Agargaon area.
Describing various initiatives of the government to ensure good governance of the Stock Exchange and listed companies, Hasina said proper regulatory measures have been taken to identify tricking and irregularities in the transaction in stock market. She said the government would also continue special incentive packages for protecting interests of small investors.
The capital market has got stabilised following government steps, said Hasina adding that Bangladeshs stock market is now recognised as a fast growing and potential one. Referring to her governments initiative of establishing 100 economic zones in the country, the Prime Minister said more than one 1 crore people would be employed in various mills and factories to be set up in these economic zones. Besides, MoUs have also been signed with China, Japan and India on G2G basis to establish four special economic zones for boosting more local and foreign investments, she said. While speaking at the function as a special guest, Finance Minister AMA Muhith said the government would now put pressure on the multinational companies working in Bangladesh to invest in the capital market of the country as the market has already got international recognition. The Finance Minister hoped that the countrys stock market would not only be stronger in next two years of the tenure of the present government but also advance further. The BSEC has launched the countrywide literacy programme with the slogan Careful Investment, Prosperous Future.
