B Mirror Desk : The absence of IPOs, the underdeveloped bond market, negative equity, and a lack of personnel at the Bangladesh Securities and Exchange Commission (BSEC) are some of the issues plaguing the nation’s stock market. Dr. Anisuzzaman Chowdhury, Special Assistant to the Chief Advisor, met with stock market stakeholders to discuss ways to address these issues.
The meeting took place on Wednesday, April 16, in the Securities Commission Building’s Multipurpose Hall in Agargaon, Dhaka.
A number of stock market issues were brought up during the discussion. These include a lack of initial public offerings (IPOs), a lack of bond market development, negative equity, and a manpower shortfall at the BSEC.
The meeting discussed how to solve negative equity. IPOs have not been coming to the stock market for a long time. Dr. Anisuzzaman discussed the solution of how to bring good companies to the market.
The reason behind the lack of development of the bond market was mentioned in the meeting, that the interest in corporate bonds is normal due to high savings bond rates. Due to this, the country’s bond market is not able to turn around.
Regarding the meeting held, BSEC spokesperson Md. Abul Kalam said that today’s meeting was held with stakeholders regarding the ongoing problems in the stock market. Starting from negative equity, several problems have been identified. Abul Kalam said that the committee formed after preparing these reports will submit them to the concerned department.
It is worth noting that in order to strengthen the Bangladesh Securities and Exchange Commission (BSEC) and develop the stock market, the Special Assistant to the Chief Advisor Dr. Anisuzzaman Chowdhury sat in a meeting with representatives of 10 market-related organizations on Wednesday afternoon at the Multipurpose Hall of the Securities Commission Building in Agargaon in the capital.
BSEC Chairman Khandaker Rashed Maksud, Commissioner Md. Mohsin Chowdhury, Md. Ali Akbar and Farzana Lalarukh and members of the Stock Market Development Committee, Professor Dr. Sadequl Islam of the Finance Department of Dhaka University, and members of the committee, Additional Secretary of the Insurance and Stock Market Division of the Financial Institutions Department, Md. Saeed Qutub, were present.
Apart from this, the Chairman of Dhaka Stock Exchange (DSE) PLC, Chairman of Chittagong Stock Exchange (CSE) PLC, Managing Director (Acting) of Central Depository Bangladesh Limited (CDBL), Managing Director of Central Counterparty Bangladesh Limited (CCBL), President of DSE Brokers Association of Bangladesh (DBA), President of Bangladesh Merchant Bankers Association (BMBA), Vice President of Association of Asset Management Companies and Mutual Funds, President of The Institute of Chartered Accountants of Bangladesh (ICAB), President of Association of Credit Rating Agencies and President of Bangladesh Association of Publicly Listed Companies (BAPLC) were present in the meeting.
Earlier, on March 17, the Financial Institutions Division of the Ministry of Finance through a circular formed a 4-member committee with Special Assistant to the Chief Advisor Dr. Anisuzzaman Chowdhury as the chairman.
