Bangladesh Securities and Exchange Commission (BSEC) drafted guidelines in a bid to support finance and investment in the real estate sector through the capital market.
The BSEC opened the draft guidelines styled as “Real Estate Investment Trust Fund Rules” for public opinion at a meeting on Thursday.
“The Commission has decided to approve the draft of a new rule called ‘Bangladesh Securities and Exchange Commission (Real Estate Investment Trust Fund) Rules, 2024' for creating financing opportunities in the real estate sector through the capital market and opening up new areas of investment,” read a statement signed by BSEC executive director Mohammad Rezaul Karim.
In his immediate reaction, former president of the Real Estate and Housing Association of Bangladesh (REHAB) M A Awal welcomed the guidelines as it “has opened a new avenue of investment.”
“Any policy comes with a noble cause. The realtors can raise funds from the new instruments. However, we should focus on proper implementation of the new guideline and its transparency,” he told the Daily Sun.