Favourable policies make capital market ripe for investment, BSEC tells prospective investors in Middle East
Stakeholders on Tuesday urged foreign and non-resident Bangladeshis (NRB) investors here in Dubai to invest their money in Bangladesh's stock market, as the return on investment is guaranteed to be better due to a favourable investment climate.
They made the call during an investment summit at the inaugural day of a roadshow in Dubai, the first of its kind, styled “Rising of Bengal Tiger: Potentials of Bangladesh Capital Markets”
The Bangladesh Securities and Exchange Commission (BSEC) organised the roadshow, being held at the Park Hyatt Hotel in the Emirati city and sponsored by UCB Stock Brokerage.
The 4-day expo, which will continue until February 12, commenced with the launching of an online beneficiary owner (BO) account, which was previously barred for a significant amount of time.
Land Minister M Saifuzzaman Chowdhury was the chief guest, while the state minister for youth and sports Md Zahid Ahsan Russel was special guest at the event.
Shibli Rubayat-Ul-Islam, BSEC chairman, was the chair, while Arif Khan, managing director of IDLC Finance, was the keynote speaker at the event.
Thanks to regulatory reforms, it is the right time to invest in Bangladesh. If you (foreign and NRB investors) do not invest there, you will miss out. Rather, Bangladesh will then invest abroad, Islamsaid.
"Our stock market has remained equity-based. We are focusing on launching bonds, debentures, Sukuk and alternative investment funds in the market.”
Soon, these will make the capital market more attractive.
“We will take responsibility for keeping investors free from worries and keeping their confidence in the commission.”
Clients can now get 5-6 per cent interest on their bank deposits, but on the other hand, investments in mutual funds and in some shares are much more profitable, he added.
The economy improves when the stock market improves, and the economy collapses when the stock market collapses, Chowdhury said.
“There are risks in all businesses, especially in the stock markets. But if one has to gain, he or she has to take that risk,” he added.
Bangladesh's stock market has improved significantly, and with the launching of an online BO account opening facility, it will only improve further, Russel said.
Highlighting the business environment and investment climate of Bangladesh, Khan said that deposit rates in Bangladesh are the lowest in 25 years.
The BSEC has plans to arrange similar road shows in London, Rome, Toronto, New York, Hong Kong, Singapore, Shanghai and Tokyo.
Two summits on Bangladesh's capital market, as well as multiple bilateral and multilateral meetings, will also be held at the roadshow
Besides, the regulator will hold two other programmes to promote new investment opportunities and the scopes for private equity and venture capital investment here.
UCB Stock Brokerage, formerly UCB Capital Management, also launched a digital booth at the event, which the BSEC chairman inaugurated.
Khondoker Kamaluzzaman, BSEC commissioner, Anisuzzaman Chowdhury, chairman of United Commercial Bank (UCB), Mohammed Mahtabur Rahman, chairman of Haramain Group, Rahmat Pasha, CEO of UCB Stock Brokerage, Masudur Rahman, director of Dhaka Stock Exchange, Mahbubul Alam, executive director of BSEC, Sayadur Rahman, president of BMBA, Parvez Tamal, NRBC Bank chairman, and others were also present at the summit.