Inauguration highlights need for stronger academia-industry linkages to foster economic growth and stability

Staff Correspondent:

Independent University, Bangladesh (IUB) has taken a ground-breaking step by inaugurating the first Financial Trading Lab at the university level on Monday. The lab was inaugurated by Professor Shibli Rubayat Ul Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), who attended as the chief guest.

At the inauguration ceremony, BSEC Chairman Professor Shibli Rubayat Ul Islam emphasized the significant role of the capital market in the economy. He highlighted that since independence, Bangladesh’s economy has heavily relied on the banking sector due to a lack of expert professionals, which has hindered economic expansion. 

“We are still short of financial leaders and professionals, leading to economic uncertainty over the last 20-30 years. As a result, we have had to hire expert professionals from India, Pakistan, Sri Lanka, and the Philippines for high-level positions in many industrial sectors,” he said.

Mr. Rubayat stressed the necessity of building stronger relationships between industry and academia to create a more substantial impact on the national economy. He suggested that academic curricula need to be updated to produce capable individuals for the economic sector, noting that simulations in the Financial Trading Lab are crucial for this purpose.

Echoing the BSEC Chairman’s sentiments, IUB Vice Chancellor Tanweer Hasan highlighted the importance of bridging the gap between experts and industry to achieve the Vision 2041 of the Bangladesh government. He expressed hope that the newly formed Financial Trading Lab would play a crucial role in maintaining economic stability, even if disruptions occur in the BSEC trading lab. 

Mr. Hasan also called on economic organizations to provide more comprehensive data for financial research, pointing out that the Dhaka Stock Exchange (DSE) currently only provides data for the last five years, which is insufficient for in-depth research.

Nasir Uddin Chowdhury, Managing Director of LankaBangla Securities Limited, shared the vision of bridging the gap between industry and future professionals, aiming to make all business school students more capable.

Professor Dr. Abdullah Al Mahmud, Director of the Dhaka Stock Exchange, underscored the need for financial labs to address critical aspects of finance. He noted that understanding how financial markets operate is essential for business school students. 

“Our capital market is expanding, so students need to be knowledgeable about complex financial issues to equip them for the global industry. This Financial Trading Lab will be crucial,” he stated.

The inauguration ceremony also saw the presence of IUB Trustee Board Chairman Didar A Husain, Pro-Vice Chancellor Professor Niaz Ahmed Khan, Dean of the School of Business and Entrepreneurship Professor Dr. Meherun Ahmed, and faculty members from various departments.