No alternative to knowledge for securing investment: BSEC

Staff Correspondent

13 November, 2018 12:00 AM printer

Bangladesh Securities Exchange Commission (BSEC) Chairman Dr M Khairul Hossain on Monday urged the investors to take care of their investment in capital market as there is none to make profit for them or take responsibility of their losses.

“Investors have to take care of their investment and profit in capital market. In share business, there is no alternative to knowledge for securing their investment”, said BSEC chairman.

The chairman of the capital market regulatory commission came up with the remarks while addressing a workshop on ‘financial literacy’ for media at its office in the city.

The government has taken the financial literacy programme for investors across the country aiming to provide knowledge on capital market so that they can secure their investment and make profit. If investors have enough knowledge, they can take decision on their own.

About the IPO approval, SEC chairman said that commission gives IPO approval on the basis of its disclosure. After the report of issue manager and auditor, there remain not much to do by the commission on approving the IPO.

He mentioned that commission cannot audit the credibility of financial report and if they want to check the report, it would take at least three years to approve IPO of a single company.

Narrating the government’s effort to keep capital market sustainable, he gave some recent move of government including reducing gain tax on the fund from DSE’s strategic Chinese partner, ICB’s fund release.

“The government is always positive for a stable market so that it can be the big source of long-term finance,” he said.

  BSEC and Capital Market Journalist Forum (CMJF) jointly organized the day-long workshop for journalists.

Among others, BSEC commissioners Helal Uddin Nizami, Swapon Kumar Bala, Khandoker Kamaluzzaman, BSEC executive director Farhad Ahmed and director Mohamaad Rezaul Karim were also present on the occasion.