B Mirror Report: Finance Minister Amir Khasru Mahmud Chowdhury has expressed concern over the current state of the country’s stock market, warning that many reputable companies now view it as a “casino,” signaling a troubling investment environment.

He made the remarks on Saturday during a pre-budget discussion with editors and chief executives from print, electronic, and online media at the Secretariat.

Despite describing the stock market as a subject of personal interest, the minister acknowledged its weaknesses, pointing to excessive reliance on bank loans as a key problem. He noted that banks’ practice of using short-term deposits to fund long-term loans has created risks for both the financial sector and businesses. Large-scale projects, which ideally should be financed through the capital market, have failed to do so due to its inefficiency.

The finance minister said the government has undertaken major reform initiatives to restore confidence in the market. Ensuring investor protection and rebuilding trust among listed companies are now top priorities, as many strong firms remain reluctant to enter the market under current conditions.

Highlighting the importance of institutional investment, he stressed that a robust stock market cannot rely solely on small investors. The government is working to attract foreign fund managers and investors to strengthen the market base.

He also revealed plans to shift toward market-based financing by introducing government and municipal bonds, following models used in developed economies. This would allow public projects to raise funds directly from the capital market.

The minister added that the government is reconsidering its role in holding shares, emphasizing that its primary focus should be on infrastructure development and public welfare spending.

Additionally, he mentioned plans to securitize government assets, citing the potential issuance of securities backed by future revenues from projects like the Jamuna Bridge.

He concluded that meaningful policy and structural reforms are essential to bring stability and desired changes to the stock market.