Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Dhaka Stock Exchange (DSE) have signed a Memorandum of Understanding so that both can work together to collect finance for RMG units from capital market subscriptions.
BGMEA President Faruque Hasan and DSE acting CEO M. Saifur Rahman Majumdar FCA signed the MoU on behalf of their respective organizations at the DSE Building at Uttara on Thursday. Dr. Hafiz Md. Hasan Babu, chairman of the DSE; Shakil Rizvi and Sharif Anwar Hossain, directors of the DSE; and a number of BGMEA directors attended the program.
The BGMEA president, Faruque Hassan, informed that his organization has already made a list of 202 garment factories and 50 top exporters of the country, among which a good number are to be listed on the capital market.
The DSE Chairman, Dr. Hafiz Md. Hasan Babu, said that industrial financing in Bangladesh mainly comes through banks, which is very expensive. Textiles and RMG are the major sectors that can collect financing from the capital market, Babu added. Besides, “global investors always prefer publicly listed companies for investment. Large RMGs can easily attract foreign investment if they get listed on the capital market. Bangladesh’s green and compliant RMG factories could be great tools for branding Bangladesh,” the DSE chairman added. He further added that the capital market will be strengthened if large RMG units enter the market.