Experts at a discussion recently elaborated the role of capital markets and institutional funds in promoting regional development of South Bangladesh.
They exchanged views with local businessmen and leaders, followed by a meet and greet of local businesses, held at the Khulna Chamber of Commerce presided over by Sheikh Salauddin Jewel, MP of Khulna-2 constituency, with special guest Dr Hasan Imam, president of the Association of Asset Management Companies & Funds (AAMCMF), said a press release.
Sheikh Jewel MP spoke about the current government's massive development programs for Southern Bangladesh, crowned by Prime Minister Sheikh Hasina's Padma Bridge launch.
He stated that not only has the bridge opened a new era in commerce for the South, but the government has also funded numerous development initiatives in healthcare, agriculture and infrastructure in Southern districts including Khulna, Jessore and Gopalganj, a region and people ignored by previous administrations.
He emphasized the need for private sector participation to support and expand such development initiatives.
"Business must stand by the people of Bangladesh and all can benefit together," Sheik Jewel stated.
Dr Hasan Imam discussed how the power of the capital markets can be used to promote region based national development.
He declared the launch of a "Bangladesh Impact Fund - South Region" which will finance food security, healthcare, green initiatives and digitization of small and micro business activities in Khulna, Gopalganj and other southern districts.
As the chairman of RACE Group and US-based private sector investor, he opined that the institutional fund sector can do a lot more in terms of supporting nation building while making a sustainable return for investors.
The fund will target Tk200 crore in development financing and can become larger with success.
He said that similar impact funds will be formed not only in the southern region but also in the northern, western and eastern regions of Bangladesh.
Such funds will be formed through discussions with local chambers of commerce, businessmen and leaders of these regions, Imam further stated.
He also encouraged local businessmen to participate in the capital markets through investments and building dividend generating businesses.
"Such timely private sector funds with your participation will be a win-win for the nation, its people and the capital markets. We stand ready to do our part", Dr Imam added.