People will see a big change in the capital market in two years as Bangladesh Securities and Exchange Commission (BSEC) has targeted to bring some good companies to remove the crisis of quality shares on the markets, said Shibli Rubayat-Ul-Islam, chairman of the BSEC on Saturday.
He said they are discussing with different big organizations including local and foreign companies for listing into the capital market.
Shibli Rubayat-Ul-Islam, chairman of Bangladesh Securities and Exchange Commission (BSEC), came up with the statement while speaking as a chief guest at the maiden ‘Economic Reporters’ Forum (ERF) Dialogue on Business and Economy’ at the ERF office in Dhaka on Saturday.
“A good economy means where the economy can perform properly, where the capital market can be right, where bonds can be traded on stock exchanges, where commodity markets can be worked on, where SME markets can be worked on," Shibli said.
We can call that economy Healthy Economy or mature, he said adding that, we have not really reached that position yet, but we are moving in that direction.
We hope to see a big change in the capital market in the next two years, he mentioned.
“Only then will we be able to get out of the ‘shallow capital market’. We are going there as many big financial hubs or commercial centers in the world. We have already gone to Dubai. I got a good response from there,” he said.
We are working on mutual funds, he said adding that, hopefully, big foreign investment will come here.
“Mutual funds are doing well this quarter and in the next quarter. The funds have started paying dividends. We hope investors will have confidence and trust when they receive dividends. I hope this will turn the sector around,” he mentioned.
Responding to a question, the BSEC chairman said each regulator has its own responsibilities. It has to do their job according to the responsibility.
Investors will benefit if we work together with regulators, stock exchanges and intermediaries in the capital market," he said. It will achieve the goal we are working on, he mentioned.
"We have a lot to do in the economy,” he said adding that, “We (the new commission of BSEC) after taking charge are trying to make the capital market contribute more to our economy. That's why I'm trying to figure out how to open new avenues.”
Sharmeen Rinvy, president of the ERF chaired the discussion and SM Rashidul Islam, ERF general secretary moderated the event.
