The Investment Corporation of Bangladesh (ICB) has dished out Tk1,500 crore into the stock market from the Capital Market Stabilization Fund (CMSF).
Earlier, it received Tk1,000 crore from the CMSF for enhancing liquidity support in the market.
On April 18, the state entity invested another Tk50 crore funds received from the CMSF.
The CMSF has boosted the capital market. The ICB received another amount of Tk50 crore from our fund and the entire Tk1,500 crore is already invested in the stock market, said Md Monowar Hossain, COO of the stabilization fund.
The Bangladesh Securities and Exchange Commission in a gazette notification on June 27 last year issued rules for the CMSF to revitalize the market along with settling investors' claims on undistributed/unsettled dividends.
The CMSF comprises undistributed or unsettled dividends, say cash, stock and rights.
Officials say the CMSF has so far received Tk4,500 crore in cash and shares worth Tk3,250 crore in market price from the issuers of the listed securities.
A large number of issuers are yet to deposit investors' unclaimed dividends into the CMSF.
The securities regulator has recently asked those issuers to deposit the unclaimed dividends within the May 31 extended timeframe.
The deadline has been extended for the third time.
Apart from investing through the ICB, the CMSF has also finalized the process of floating a closed-end mutual fund namely 'ICB AMCL CMSF Golden Jubilee Mutual Fund'.
As sponsor, the CMSF has already contributed Tk50 crore to the fund to be floated in order to facilitate the stabilization of the market.
The CMSF is governed by a high-profile governing body, headed by former principal secretary Md Najibur Rahman.