Prime Minister Sheikh Hasina yesterday said the government would continue to provide necessary support for the capitalmarket development as it can help collect required capital forbuilding industries and infrastructure.
“To achieve sustainable development goals, huge investment isnecessary. A bold, accountable and effective capital market plays animportance role in collecting required capital for buildingindustries and infrastructure. I hope the Bangladesh Securities andExchange Commission will remain vigil and take farsighted steps inthis regard,” she said.
The Prime Minister was addressing a function at her office before witnessing a signing ceremony between the Bangladesh Securities and Exchange Commission (BSEC) and the Securities and Exchange Board of India (SEBI) to enhance cooperation between the two regulatoryauthorities, reports UNB.
Urging all concerned to work with utmost sincerity, Sheikh Hasina hoped that the MoU, signed yesterday between the two capital market regulators, would help flourish the economies of the both countries.
To build a transparent, accountable, skilled, stable and strongcapital market in the country, she said her government has beenimplementing a number of programmes, including strengthening the BSECthrough enactment of laws and undertaking various programmes to protect investors’ interests and ensure good governance
The steps also include introduction of a tribunal for disposal ofcases related to the capital market, introduction of improved digitalprocess for detecting irregularities in share transaction and their supervision, and managing share-related activities and enactment ofa financial reporting law, she said.
The Prime Minister said her government’s steps also includeintroduction of new products related to the capital market, establishment of digitalised clearing and settlement company andskill development through training of regulating bodies and capitalmarket personnel and introduction of financial literacy programme to improve the capital market.
“I think an opportunity will be created to strengthen our capital market utilising the experiences of the Securities and Exchange Boardof India through the signing of this MoU. I would like to request theBangladesh Securities and Exchange Commission to introduce Financial Literacy Programme for creating awareness among prospectiveinvestors,” she said.
Commerce Minister Tofail Ahmed, PM’s Advisers HT Imam and Dr Moshiur Rahman, State Minister for Finance and Planning MA Mannan, IndianHigh Commissioner to Bangladesh Pankaj Saran, FBCCI President Abdul Matlub Ahmed, BSEC commissioners, and Board of Directors of DSE were,among others, were present at the signing ceremony. Finance Minister AMA Muhith, BSEC Chairman Dr M Khairul Hossain and SEBI Chairman UK Sinha also spoke on the occasion.
