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Business Insider Bangladesh

No decision taken at meeting with BSEC: BB

BI Report || BusinessInsider

Published: 20:46, 1 December 2021   Update: 22:21, 1 December 2021
No decision taken at meeting with BSEC: BB

Bangladesh Bank logo

No decision was taken at the meeting with the Bangladesh Securities and Exchange Commission (BSEC) held on Tuesday, said the Bangladesh Bank (BB).

The central bank on Wednesday issued a press release confirming the matter.

The release said that several media outlets wrongly reported that decisions were taken at the meeting on rules of investment by banks and financial institutions in the capital market.

The meeting between the two regulatory bodies took place on November 30 with Bangladesh Bank Deputy Governor AKM Sajedur as the chair.

The meeting discussed issues related to the formation of the Capital Market Stabilization Fund (CMSF) by BSEC and resolve some conflicts that had risen from it, the release said.

Moreover, explaining sections 35 and 22 of the Banking Companies Act, and Section 10 of the Financial Institutions Act, BB also clarified some legal issues to the BSEC regarding banks’ investment in the stock market.

However, no new decision was taken at the meeting, the release said.

On Wednesday, quoting BSEC representatives, several media outlets reported that the meeting took decisions on the participation of banks and non-bank financial institutions (NBFIs) in a BSEC capital market stabilisation fund, and allowing dividends from the profits of the recent financial year even if there were accumulated losses.

Nagad
Walton