CSE commodity market launch nearing completion: Salman Ispahani

The Chittagong Stock Exchange (CSE) has almost completed preparations for launching a commodity market, Mirza Salman Ispahani, chairman of Ispahani Group and former president of the CSE, said on Tuesday.

“CSE has always been at the forefront of introducing new products. The process of establishing the commodity market is now nearing completion,” he said.

Ispahani made the remarks while addressing as the chief guest at an awareness and knowledge-sharing programme titled “Diversification of Bangladesh Capital Market: Prospect of Commodity Exchange” held at the CSE headquarters in the city.

He said introducing new products and diversifying the capital market are essential in the current state of Bangladesh’s capital market and economy.

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“Once a commodity market is established, producers, consumers and all stakeholders involved will benefit. It will also contribute to the development of an important segment of the economy,” he said.

“We are very optimistic about the commodity market. Once it becomes operational, the capital market will also benefit,” he added.

CSE Director Major (retd) Emdadul Islam said a commodity exchange would play an important role in Bangladesh’s economy.

“Bangladesh’s commodity market remains incomplete. If price risk management and appropriate price setting can be ensured properly, the commodity market can be transformed into a well-structured market. A commodity exchange is the right solution in this regard,” he said.

Analysing commodity markets in countries where such markets are already operational shows that their presence and activities play an important role in the overall economic ecosystem, he stated.

“The sooner an effective commodity market is established in Bangladesh, the sooner its benefits will reach all stakeholders and have a positive impact on overall economic activities,” Emdadul added.

CSE Chief Regulatory Officer Mohammad Mehdi Hasan delivered the welcome speech at the programme.

CSE Managing Director M Shaifur Rahman Mazumder made the keynote presentation on commodity exchanges and related issues.

GM and Head of ICT Division Mohammad Mezbah Uddin, GM and Convener of the Commodity Exchange Project Md Mortuza Alam, GM and Head of Business and Market Development Mohammad Monirul Haque, DGM and Head of Listing Affairs Department AKM Shahroz Alam and other senior CSE officials were also present at the event.

The CSE officials also answered questions from journalists working for various newspapers and television channels.