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Finance Minister calls upon the banks to invest in the capital market

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Senior Correspondent, Bartatwentyfour.com | 6 September 2019, 09:04AM

Finance Minister calls upon the banks to invest in the capital market
Finance Minister AHM Mustafa Kamal, Photo: Collected

Dhaka: According to investment limit Finance Minister AHM Mustafa Kamal called upon the banks to invest in the capital market in the next week. He informed it to the chairman of Bangladesh Securities and Exchange Commission (BSEC) Dr. M. Khairul Hossain.

The results of this call of the finance minister will be felt in the capital market as observed by BSEC chairman.

On Thursday (Septermber 5) BSEC chairman informed this in his office while talking to DSE director Minhaz Mannan Imon. 

Minhaz Mannan said that BSEC chairman met the finance minister on last Sept. 4 who told the chairman that he was very much alert about the capital market. He always keeps contact with capital market. To avert the liquidity crisis in the capital market he has called upon the banks to invest. 

In presence of the chairman of BSEC, the finance minister directed the Bangladesh Bank governor to take necessary steps in this regard. Simultaneously the minister assured the chairman that he would take all measures for improvement of the capital market.

Quoting the chairman the director of DSE Minhaz said that at present on an average the limit of bank’s investment is below 17 percent. Under this circumstance there are opportunities to make investment by many banks. And those banks have been asked to invest. 

Earlier on Thursday in the afternoon at 3-30 P.M. the commission held meetings with the DSE, CSE and leaders of DSE brokers association regarding the amendment of Securities Exchange Rule of 1987. In the meeting the stakeholders placed their proposals which was taken by the commission with due importance.   

Minhaz Imon said that we have raised our opinions on amending the Securities Exchange Rules of 1987. Now the commission will prepare amendment taking our opinions into consideration. The commission will seat with the stake holders for the second time. Next public opinions will be sought to finalize the amendment of the existing law.