Trial trading of govt securities in secondary market starts next week: BB governor
UNB || BusinessInsider
Trial trading of government securities in the secondary market will start next week to turn the capital market vibrant, said Bangladesh Bank Governor Abdur Rouf Talukder on Monday.
He said the country’s fast-growing economy requires a huge investment that cannot be met only by bank lending.
All sections of people have to invest in the stock markets market to create capital for growth, he added.
The governor was speaking at the opening ceremony of a weeklong ‘world investors week’ held at the Bangladesh Security and Exchange Commission (BSEC) Building, in Agargaon in the capital on Monday.
The governor also urged people to invest their money in both the bond market and share market as the government works to make rules and regulations investors’ friendly.
He said the non-performing loan is increasing as the banks are lending to entrepreneurs on long-term against short-term deposits.
Sheikh Mohammad Salim Ullah, secretary of the Financial Institutions Division (FID), said that the ministry is working along with the BB, NBR, and BSEC for automation and transparency in share trading to gain the credibility of ordinary shareholders.
Other speakers suggested increasing the financial literacy of people along with rising institutional investment in the share market.
BSEC Chairman, Professor Shibli Rubayat Ul Islam presided over the event, while Jean-Paul Bureaud, executive director, FAIR, Canada presented a keynote paper on the global investment issue, connecting virtually.
Executive Director of BSEC Rezaul Karim, president of Bangladesh Merchant Bankers Association (BMBA), Sayedur Rahman, Amzad Hossain, secretary, Bangladesh Association of Public Listed Company, President of DSE Brokers Association of Bangladesh (DBAB) Richard D Rojario, spoke in the function as panel discussants.
BSEC, as a member of IOSCO (The International Organization of Securities Commissions (IOSCO), an association of organizations that regulate the world's securities and futures market, is observing the week through fitting programmes.
Several seminars will be held with the stakeholders at Dhaka University Business faculty focusing on the need for gaining more knowledge about capital markets.