BM Desk : Bangladesh Bank and BSEC met in order to carry out Chief Advisor Dr. Muhammad Yunus’s capital market development directions. On Thursday, June 19, the meeting took place at Bangladesh Bank’s headquarters in Motijheel, Dhaka.

Dr. Ahsan H. Mansur, the governor of Bangladesh Bank, presided over the meeting, which started at 12:30. Top bank officials, including Bangladesh Bank Governor Dr. Ahsan H. Mansur, Deputy Governor Dr. Md. Habibur Rahman, and Advisor to the Governor Md. Ahsan Ullah, attended the meeting. Top BSEC officials also took part, along with Commissioner Farzana Lalarukh and Chairman Khandaker Rashed Maqsood of the Bangladesh Securities and Exchange Commission (BSEC).

BSEC Director and Spokesperson Md. This information was given in a press release signed by Abul Kalam.

The press release said that the meeting discussed the potential of the capital market as an important source of long-term financing. The issue of ensuring macroeconomic development by reducing excessive pressure and risk on bank loans in the country’s economy by prioritizing long-term financing, that is, the opportunity to raise capital from the capital market, was discussed at this time.

It also said that the meeting also discussed in detail how and by what method or process long-term financing can be provided from the capital market. In addition, the establishment of a vibrant bond market in the country and increasing the liquidity of the bond market were also discussed. At the same time, the meeting decided to form a joint committee consisting of representatives of the Ministry of Finance, Bangladesh Bank and Bangladesh Securities and Exchange Commission for the above issues. Through coordinated and joint initiatives, by fully developing the capital market as the main source of long-term financing in the future, a revolutionary change in the country’s capital market as well as the overall economy of the country will be possible. Above all, the meeting had fruitful and constructive discussions on the implementation of the Chief Advisor’s instructions.

It is important to remember that on May 11, at the Chief Advisor’s home in Jamuna, a high-level meeting was conducted under the chairmanship of the Chief Advisor to examine the status of the capital market today and what has to be done to advance it. The meeting was attended by the BSEC Chairman, the Financial Advisor, the Special Assistant to the Chief Advisor, and the Secretary of the Financial Institutions Division. “Take necessary measures to ensure that large companies of the country raise capital by issuing bonds or shares in the capital market instead of bank loans for long-term financing,” was one of the five directives for the capital market’s development that the Chief Advisor gave during the meeting.

According to the release, the Bangladesh Securities and Exchange Commission (BSEC) has already taken the required steps to support the growth of the capital market and has begun working with all pertinent institutions and organizations to carry out the Chief Advisor’s directives.