Merchant bankers have agreed to inspire portfolio managers and their clients to help stabilize the capital market by injecting their investable funds.
The assurance came from Bangladesh Merchant Bankers Association (BMBA) on Tuesday at a meeting held with top officials of Bangladesh Securities and Exchange Commission (BSEC).
At the meeting it was discussed that some merchant banks and portfolio managers who earlier created sale pressure have investable funds.
A decision urging those merchant banks and portfolio managers to invest at least 10% of those funds was taken at the meeting, said a senior BSEC official.
BSEC Commissioner Shaikh Shamsuddin Ahmed chaired the meeting attended by BMBA President Md Sayadur Rahman and BSEC Executive Director Mohammad Rezaul Karim, among others.
The BSEC held the meeting as part of its move of interaction with the stakeholders to stabilize the country's stock market.
At the meeting, the BMBA representatives were assured of their all out support for stabilizing the stock market.
The BSEC official said the merchant bankers spoke about 'inactive' funds of many investors who earlier offloaded securities.
"Necessary initiatives will have to be taken to inspire those investors to inject funds in the market."
The participants told the meeting that many big clients of merchant bankers have inactive accounts.
"Necessary steps will have to be taken for inspiring those clients to make fresh investments in the market," said the BSEC official.
The BMBA representatives have also assured of taking necessary steps to increase the number of institutional investors.
