Govt to continue support for capital market dev: PM
A bold, accountable and effective
capital market plays an importance role in collecting required capital for building industries and infrastructure
UNB
Prime Minister Sheikh Hasina yesterday said the government will continue to provide necessary support for the capital market development as it can help collect required capital for building industries and infrastructure, reports UNB.
To achieve sustainable development goals, huge investment is necessary. A bold, accountable and effective capital market plays an importance role in collecting required capital for building industries and infrastructure. I hope the Bangladesh Securities and Exchange Commission will remain vigil and take farsighted steps in this regard, she said.
The Prime Minister was addressing a function at her office before witnessing a signing ceremony between the Bangladesh Securities and Exchange Commission (BSEC) and the Securities and Exchange Board of India (SEBI) to enhance cooperation between the two regulatory authorities.
Urging all concerned to work with utmost sincerity, Sheikh Hasina hoped that the MoU, signed yesterday between the two capital market regulators, will help flourish the economies of the both countries.
To build a transparent, accountable, skilled, stable and strong capital market in the country, she said her government has been implementing a number of programmes, including strengthening the BSEC through enactment of laws and undertaking various programmes to protect investors interests and ensure good governance. The steps also include introduction of a tribunal for disposal of cases related to the capital market, introduction of improved digital process for detecting irregularities in share transaction and their supervision , and managing share-related activities and enactment of a financial reporting law, she said.
The Prime Minister said her governments steps also include introduction of new products related to the capital market, establishment of digitalised clearing and settlement company and skill development through training of regulating bodies and capital market personnel and introduction of financial literacy programme to improve the capital market.
I think an opportunity will be created to strengthen our capital market utilising the experiences of the Securities and Exchange Board of India through the signing of this MoU. I would like to request the Bangladesh Securities and Exchange Commission to introduce Financial Literacy Programme for creating awareness among prospective investors, she said.
Commerce Minister Tofail Ahmed, PMs Advisers HT Imam and Moshiur Rahman, State Minister for Finance and Planning MA Mannan, Indian High Commissioner to Bangladesh Pankaj Saran, FBCCI President Abdul Matlub Ahmed, BSEC commissioners, and Board of Directors of DSE were, among others, were present at the signing ceremony.
Finance Minister AMA Muhith, BSEC Chairman Dr M Khairul Hossain and SEBI chairman UK Sinha also spoke on the occasion.
