BSEC to launch green bond, says its chief

Discussants have laid importance on green financings, proper coordination among regulatory bodies and time befitting researches to ensure sustainable economic developments.
Their suggestions came Tuesday at the inaugural session of a two-day long online conference titled 'International Conference on Sustainable Finance & Investment'.
Bangladesh Institute of Capital Market (BICM) organised the programme attended by the chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof. Shibli Rubayat Ul Islam as the chief guest.
In the inaugural session, the BSEC chairman said the country has passed the period of struggling for food, shelter and clothing.
"We are now having better rankings in different areas including exports and agricultures. We are no more a bottomless basket," Prof. Islam said.
The chairman said the securities regulator is promoting green and blue bonds.
"Things are changing when we are speaking about sustainable developments,"
The chairman said the country now should move to ensure better funds, better policies and regulations, and good governance.
"We need more international friends and zones having free trade agreement facilities, better policy and networks, among others, to mobilise more funds for our sustainable developments," the BSEC chairman said.
He has also laid importance on research based economy and proper utilisationon regional connectivity.
"It's the time of our researchers to give us the right path toward sustainable developments," said the BSEC chairman Prof. Islam.
The former governor of the Bangladesh Bank (BB) Dr. Atiur Rahman said the capital market is the main source of long term financing as the banks offer short term financing.
"The regulator will have to ensure good governance in the capital market. Competitive pricing must be ensured to bring good companies into the market," Mr. Rahman told the programme as special guest.
While speaking on maintaining proper coordination among the regulatory bodies, Mr. Rahman said importance will have to be laid on the financial reporting and corporate governance.
"Insurance and pension funds are also the sources of long term financings. These areas should also be addressed," said the former BB governor Mr. Rahman.
Another special guest Frank Rijsberman, director general at Global Green Growth Institute, has welcomed the country's initiative taken to float green bonds.
"Green projects should be prioritised to accelerate the green financings," Rijsberman said.
Mafiz Uddin Ahmed, additional secretary of the financial institutions division, said the country has scarcity of natural resources.
"But we have human resources. We will have to set plans to move forward through proper coordination between the natural and human resources," Mr. Ahmed said as special guest.
Prof. Muhammad Abdul Moyeen, dean at the faculty of business studies of the University of Dhaka, has highlighted the importance of sustainability in economic developments.
Prof. Mahmuda Akter, executive president at BICM, has expressed gratitude to the guests for attending the programme.

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