PM suggests 7-point measures for stock market development

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Dhaka: Prime Minister Sheikh Hasina suggested undertaking seven-point measures for stock market development, asking all concerned including the BSEC to play a due role in protecting the interest of the investors.

“I call upon all concerned including the Bangladesh Securities and Exchange Commission (BSEC) to play a due role in protecting the interest of the investors as well as enhancing the contributions of the capital market to accelerating the economy and implementing the mega projects,” she said.

The prime minister was addressing as the chief guest the silver jubilee celebration function of BSEC at Bangabandhu International Conference Centre here.

The steps that the prime minister suggested are: the development of bond market as a source of the long-term funding, expanding and diversifying the chosen baskets of the investors by launching new products, informing all concerned about the products, their operating process and strategy before their introduction.

The other measures are – expansion of investment education at all levels by strengthening the BSEC Training Academy Programme, arrangements of seminars, workshops, and discussions on the role and importance of the stock market in socioeconomic development and inter-relations between the capital market and other sectors, introduction of small cap board at fastest possible time to complete share transaction of the established as well as small and medium capital-based companies for funding venture capital.

The prime minister urged all concerned to properly implement all programmes including maintaining transparency and accountability in all spheres and establishing rule of law alongside ensuring all kinds of infrastructural facilities.

“If these programmes are implemented, I’m sure that the country’s economic growth and the trend of advancement will be further geared up through private sector investment,” she said.

The premier assured that the government will also continue allout support for stock market development in future.

“Our government will keep up allout support for stock market development in future … the capital market will be a dependable source of long-term
funding in building a developed Bangladesh,” she added.

Finance Minister Abul Maal Abdul Muhith was present at the function as the special guest, while Financial Institution Division Secretary under the
Finance Ministry Md Asadul Islam and BSEC Chairman Dr M Khairul Hossain also
spoke.

Ministers, parliament members, leaders of the business bodies, senior officials of the financial institutions and securities companies and senior
government officials were present.

An audio-video presentation on the role of the BSEC in Bangladesh’s economic uplift was made at the function.

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