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Dhaka Tribune

PM: Govt to continue support for stock market development

Update : 09 Jan 2017, 01:32 AM
“The present government would continue its all-out support for the development of the stock market which would be a ‘dependable source’ for long-term funding in building a developed Bangladesh,” she said. Hasina formally opened the Financial Literacy Programme at a function at Bangabandhu International Conference Centre here this morning. From the function, she also inaugurated the newly-built 10-storey office building of Bangladesh Securities and Exchange Commission (BSEC) at Agargaon in the city. Finance Minister AMA Muhith addressed the function as the special guest, while SEC Chairman Dr M Khairul Hossain gave the welcome speech. Pointing out that financial literacy is very important for proper investment of the savings money of the people, Sheikh Hasina said the people of the country sometime make investment whimsically. “They lose everything by making whimsical investment, and financial literacy is very essential to prevent the people from it,” she said, adding that it’s necessary for the people to know how and where they would make investment.5555The premier expressed her firm optimism that Bangladesh Securities and Exchange Commission (SEC), Stock Exchanges and listed companies would build a strong stock market by ensuring transparency and accountability side by side with establishing good governance. “I hope it would create a scope for massive investment and employment in service and infrastructure sectors and play an important role in national economy,” she said. The BSEC has launched the countrywide Financial Literacy Programme for the stock market investors with the slogan “Careful Investment, Prosperous Future”. Sheikh Hasina underscored the need for making conscious investment in the capital markets of the country and not making investment whimsically based on rumours only. She categorically mentioned that the investors whether they are big or small will have to invest in the stock markets by taking the risk of their investment. The prime minister said that many investors can not analyse appropriately the financial statement and other informations and they become loser depending on rumours and assumption. After losing everything, she said, they have a tendency to blame the government and the finance minister for their losses. Terming economic development the key driving force to eradicate poverty, the prime minister said her government has been continuing its allout efforts for flourishing the stock market, the most important pilar of the financial sector of the country. Various steps have been taken to develop a stable, transparent and accountable capital market, she said, adding that the SEC has been made financially independent and legal provisions have been kept to ensure transparency and accountability of the officials.
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