BSEC seeks public opinion on financial literacy programme

The market regulator has published on its website a request for public comment on financial literacy by October 2. The securities regulator has undertaken the initiative for launching financial literacy programme as part of its master plan to make people literate on financial instruments. In the light of recommendations of a steering committee and technical committee formed earlier, the BSEC proposed guidelines on financial literacy programme. Under the proposed guidelines, a national advisory committee will be formed and a a separate department will be established for expansion of financial literacy across the country. To increase knowledge of investors, stakeholders of capital market and people of every strata, the commission will take short-term, mid-term and long-term measures. The short-term plan might be implemented within a year. Investors and stakeholders will be trained so that they could make appropriate investment decisions under the plan. The mid-term plan might be implemented within three years. Investors other than existing stakeholders will be trained on financial issues to make them understand capital market investment well under the mid-term plan. Under the long-term plan, the regulator proposed to implement in more than three years. Officials in all government and non-governmental organisations will be trained under the long-term plan. A fund will be formed to operate the progarmme. The contributors of such fund will be BSEC, stock exchanges, banks, merchant banks, brokerage houses, credit rating agencies, asset management companies, trustees, and Central Depository Bangladesh Limited. To disseminate financial literacy across the country, debates in educational institutions, mobile games, will be carried out.