PM suggests 7-point measures for stock market development
M Humayun Kabir: Prime Minister Sheikh Hasina has suggested undertaking seven-point measures for stock market development.
She also asked all concerned, including the Bangladesh Securities and Exchange Commission (BSEC), to play a due role in protecting the interest of the investors, reports BSS.
The prime minister was addressing as the chief guest the silver jubilee celebration function of BSEC at Bangabandhu International Conference Centre here yesterday.
The suggested steps of the prime minister 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.
“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 all out support for stock market development in future.
Advising the investors to invest in stock market cautiously, Sheikh Hasina said, “Don’t fall to excessive greed … not being influenced by anybody, you’ll have to take step in this regard. Then nobody will be affected.”
The BSEC will have to continue and make more dynamic the trend that they are maintaining in both roles — regulator and cooperator, she said.
She also said good governance of the stock market has been ensured with infusing dynamism into it through demutualisation, while steps have been taken to ensure good governance of the listed companies.
“We’ve launched the work of the special tribunals for speedy disposing of the stock market-related cases and formed the Financial Reporting Council to examine the transparency and trustworthiness of the financial report,” she said.