Kamal seeks suggestions for improving share mkt

Staff Correspondent

24 March, 2021 12:00 AM printer

Kamal seeks suggestions for improving share mkt

Finance Minister AHM Mustafa Kamal on Tuesday called upon the capital market experts to come up with policies that will help improve the equity market.

“The share market must have ups and downs and the country’s capital market is yet to be that much big. But the present commission is working on to this end. Gradually, it will be turned into an investor-friendly market,” Kamal said.

“In the last budget, some facilities including that of investing undisclosed money have been offered for the capital market. Please come up with the issues that need to be addressed in the next budget,” he also told the capital market experts. 

The minister assured that the government will endorse those policy recommendations if found necessary for the betterment of the share market.

Kamal made the call at an online event of Dhaka Stock Exchange (DSE) on the eve of the country’s 50 years celebration and achievement and prospects of the country’s capital market in line with the dream of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof Shibli Rubayat-Ul-Islam was the special guest of the discussion, presided over by DSE Chairman Eunusur Rahman. 

Financial Institution Division’s Senior Secretary Md Asadul Islam and BSEC commissioners Prof Sheikh Shamsuddin Ahmed and Prof Mizanur Rahman, among others, also joined the discussion.

Claiming that the share market now has strong management, the finance minister told capital market experts that the government was ready to make available necessary infrastructure for further improving the market.

 “Please come up with policies that we can entertain. Don’t come up with those which we won’t be able to entertain,” he added.

Addressing the event as the special guest, the BSEC chairman emphasized a capital market with strong IT infrastructure and said: “It is totally impossible to operate without information technology in future.”

He observed that it will help ensure transparency and accountability in the capital market.

“It will stop the present tendency of buying shares from the investors at low prices by spreading rumours. None will be able to get away with spreading rumours,” he argued in favour of a strong IT backbone. 

Former DSE chairman Prof Abul Heshem, DSE directors Shakil Rizvi and Rokibur Rahman, and DSE Brokers’ Association president Sharif Anowar Hossain also spoke at the event, moderated by acting managing director of DSE Abdul Matin Patwary.