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Good governance will be ensured in the Capital market: Finance Minister

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Senior Correspondent, Barta24.com | 17 September 2019, 06:52AM

Good governance will be ensured in the Capital market: Finance Minister
Meeting for development of the capital market

Dhaka: Finance minister AHM Mostofa Kamal said that we shall create the capital market with people’s confidence by establishing justice through legal framework by ensuring good governance. 

The finance minister told this to the journalists after holding a meeting with the stake holders of the capital market held on Monday (Sept.16) at NEC conference room.  

Mostofa Kamal said that we like to see the capital market vibrant like the country’s present economy. The problem of the capital market now lies in the fact that the good companies are not coming in the market through IPO. We will try to bring them in the market. Next one is that the companies coming in IPO are not valued properly; rather coming with high price- we would look into the matter.   

He said that we assure all now that we would ensure good governance. Those happened in the past would be looked into by Bangladesh Securities and Exchange Commission (BSEC). Henceforth no one can tell us that we do not do justice or we are weak to some body. 

The finance minister said that whoever he is if he commits any offence we would punish him by legal procedure and would establish justice. The Prime Minister has adopted zero tolerance against offence. We will not allow offence. We want to win the confidence of the hundred percent people.

AHM Mostofa Kamal said that we want to progress our economy with the help of all. The basic area of economy is the capital market. So we cannot ignore the capital market. Our government is trying hard. Prime Minister on many times has spoken about the capital market. 

The middle and low income people are involved in the market. So the capital market is for all. It always attracts us. We always remain in very alert position about the market. We try to look that whoever come here for business they must not be affected, the finance minister added.

He told that we would try to bring government companies in the capital market. We would look into the matter so that the IPO is not over valued ensuring good price, so that in the next time the price of share does not slide down affecting the companies. We have formed a committee who would look into the whole affairs of the capital market.  

The meeting organized by the finance division of the finance ministry was chaired by finance secretary Asadul Islam. Former care taker government’s Finance adviser Dr. AB Mirza Azizul Islam, Bangladesh Bank governor Fazle Kabir, BSEC chairman Professor Khairul Islam Mia, chairman of Insurance development and Insurance regulator Shafiqur Rahman Patwary, Professor Abul Hashem, chairman Dhaka Stock Exchange and capital market concerned stake holders addressed the meeting.