Tofail asks BB to be stock market-friendly
Three-day Capital Market Expo begins in Dhaka
Staff Reporter
Commerce Minister Tofail Ahmed yesterday urged central bank to be more stock market-friendly to uphold the interest of investors for a further balanced growth in the national economy.
Now the capital market is more stable than before. Bangladesh Bank needs to give more attention to this issue, he said while inaugurating a three-day fair titled Bangladesh Capital Market Expo 2015 in the capital yesterday.
Arthosuchak, an online business news portal, organised the exhibition at the Institution of Diploma Engineers Bangladesh.
Mentioning the economic progress of the country the minister said: We are progressing fast. In this auspicious moment, I think our stock market should be empowered. Stock market should have bold contribution in the progress of the country.
The multinational companies should also be enlisted in the capital market to empower the market, he claimed.
Bangladesh Securities and Exchange Commission (BSEC) acting president Helal Uddin Nijam mentioned the lack of coordination among the Bangladesh Bank, Insurance Regulatory and Development Authority (IDRA), Bangladesh Energy Regulatory Commission and BSEC.
If any directives are given regarding the stock market, regulatory authorities must have discussions with the BSEC, but BB, IDRA, Energy Regulatory Commission often makes arbitrary decision, he said. In our country laws are very strong but we lack in awareness and perception. This ignorance is not merely limited in investors it has spread among all the people. I must say we all should have clear idea of the economic pace, said Helal Uddin Nijam.
He also said for stable stock market contribution of brokers and stakeholders are more needeed than the regulatory organisations.
ArthoSuchak editor Ziaur Rahman said the fair has been organised to raise awareness among the small traders and aspirant investors about the capital market, trade and investment prospects.
Brokerage houses, merchant banks, asset management firms, credit rating agencies, trustees, audit farms, custodians, listed companies on the stock exchanges and stake holders have taken part in the exposition.
During the three days of fair seminars on economy and capital market would be held, attended by ministers and state ministers of concerned ministries, policy ministers of BSEC, BB, IDRA and some government organisations.
For the visitors each day raffle draw will be held.
