BSEC writes to banks on investment progress on stocks

The Bangladesh Securities and Exchange Commission (BSEC) has asked the scheduled banks to provide the latest information on the special fund formed to invest in the stock market.
Besides, it also asked the listed banks to report back about the formation of another Tk 200 crore Special Purpose Mutual Fund (SPF).
A senior BSEC official told Business Insider Bangladesh that each bank has already formed a special fund of Tk 200 crore to invest in the stock market.
In line with the concerned regulator’s request to support the market during the pandemic-induced fall of the market, the banks have already started investing in the stock market from the special funds, according to him.
“We want to know how much they have invested from the funds and asked them to file a report within 7 working days,” said the official.
Of the total 61 scheduled banks in the country, 31 are listed on the stock exchange.
In February last year in a circular, Bangladesh Bank had asked the banks to set up a special fund of Tk 200 crore each to shore up the market.
On March 15, 2021, the BSEC and Bangladesh Bank, in a meeting, agreed to pursue the banks to form the SPF.