Share manipulation in the capital market can be eliminated through digitalization. Bangladesh Securities and Exchange Commission (BSEC) Secretary Najma Mubarak also believes that the Financial Institutions Division will work on this issue.

Bangladesh Merchant Bankers Association organized a discussion titled ‘Possibilities and Challenges of Bangladesh’s Capital Market’ at Radisson Blu Hotel in the capital on Monday (November 25). She said these things during the meeting.

The Finance Secretary said that now, in the changing situation of the country, the problems of the capital market have come up in today’s discussion. Everyone, including the government, takes loans from banks. Now the condition of the banks is deplorable. For this, we have to come to the capital market for long-term financing, for this we have to change our mentality.

She also said that ICB is working on behalf of the government. BSEC is working on regulations. The 3,000 crore taka being given to ICB is the result of the government’s positive thinking towards the capital market.

BMBA President Majeda Khatun presided over the event.

Nazma Mobarek, Secretary of the Financial Institutions Division of the Ministry of Finance, was present as a guest at the event. Investment Corporation of Bangladesh (ICB) Professor Abu Ahmed, Additional Secretary of the Financial Institutions Division Amal Krishna Mondal, National Board of Revenue (NBR) Member (Tax Policy) AKM Badiul Alam, Bangladesh Bank Deputy Governor Zakir Hossain Chowdhury, Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandaker Rashed Maksud, BSEC Commissioners Mohsin Chowdhury, Ali Akbar, Farzana Lalarukh, Faruk Ahmed Siddiqui.

BSEC Commissioner Ali Akbar said, there are many laws in the capital market. The commission has come a long way. Now no one can say that we are under pressure. In such a situation, if we cannot take the capital market forward from our respective places, then everyone will fail. From now on, the capital market will run at its own pace.

ICB Chairman Professor Abu Ahmed said, “Price sensitive information is often false. After the publication of this information, it was seen that the share price has increased a lot. Then it was seen that the financial report information is not correct. It is difficult to bring good companies to the capital market without some incentives. The government does not want to give any money anywhere. Bangladesh Bank does not want to give more. Even then, money is being given to ICB for the capital market. The problems of the market have been identified long ago.

If money is given to ICB, it will be used in the interest of the capital market. Interest rates may decrease in January-February. And if interest rates decrease, money will start coming to the capital market, the ICB Chairman also believes.

Bangladesh Bank Deputy Governor Zakir Hossain Chowdhury said, “Single broyer exposure is associated with risk. If the market stabilizes, the exposure can be increased further by removing it. Before providing finance, banks look at how much equity participation there is.” Bangladesh Bank is ready to take better decisions to improve the capital market.