Muhith: We’ve learnt a lot from stock market crash

“We have learnt a lot from the recent market crash. We are using our lessons to make the market stable,” he said adding that a stable capital market with much vibrancy would contribute towards the development of the economy. He said the current rules and regulations of Bangladesh capital market were comparable with those of the developed markets. The minister expected that reformations made during the last few years will be reflected in the market by 2018. Muhith was speaking at a seminar on “Bangladesh Capital Market: Present Scenario and Future Prospect,” organised by Bangladesh Merchant Bankers Association (BMBA) in Dhaka yesterday. BMBA President Md Sayadur Rahman presided over the seminar. Chairman of Bangladesh Securities and Exchange Commission (BSEC) M Khairul Hossain said the capital market can be sources of fund to implement next budget which is likely to be of Tk5 lakh crore. Finance minister already said the national budget in the next fiscal year could be Tk5 lakh crore. The current fiscal year’s budget is Tk340,605 crore. The BSEC chairman said the commission is working to introduce new instruments like derivatives in next few years. IDLC Investments Managing Director Md Moniruzzaman presented the keynote paper on the capital market and said the market is yet to be ready for the derivative instruments. “Before introducing derivative, we need to learn more about the market,” he said. State Minister for Finance and Planning M A Mannan and Chittagong Stock Exchange Managing Director M Saifur Rahman, among others, also addressed the seminar.