CSE president for removing scarcity of good shares
Tuesday, 20 November 2007
FE Report
Newly elected Chittagong Stock Exchange (CSE) President Nasiruddin Ahmed Chowdhury urged the finance ministry to take measures to offload government owned shares to the private sector and meet the scarcity of good shares in the stock market.
Nasiruddin Ahmed Chowdhury made the appeal while speaking at the 12th annual general meeting (AGM) of CSE on the premises of CSE Bhaban in Chittagong recently.
He also urged the authority concerned to undertake reform of debt-equity ratio while approving large-scale projects for financing by the Bangladesh Bank.
Stating examples of the recent syndicated finance by the leading commercial banks to some large projects such as telecom, manufacturing etc., he said if those funds could be raised through the capital market, the market would be strengthened enough.
He said the CSE would continue spreading its wings by taking its services to the doorsteps of every investor across Bangladesh to spur investment activities.
"We want to reach every segment of investors and channel the pool of small investors' fund to the development of the country."
Nasiruddin Ahmed Chowdhury said the CSE also offered the perfect platform to investors all over the world through its Internet trading service. CSE is the third such exchange to have wide area network in the sub-continent out of the thirty-one stock exchanges, after the National Stock Exchange and the Bombay Stock Exchange of India.
He said, the CSE has been maintaining good corporate governance and transparency since its inception. He requested the new board to maintain this credibility in the future. He also sought the members' cooperation to increase markets liquidity and trade participation.
As part of the AGM programme, the CSE president awarded crest and certificates to top five CSE brokers for their outstanding trading performance for the year that ended on December 31, 2006. LankaBangla Securities Limited ranked first, ICB Securities Trading Company Limited second, International Securities Company Limited third, Salta Capital Limited Fourth and Royal Capital Limited ranked fifth.
The AGM approved the audited accounts for the year 2006 and re-appointed Rahman Rahman Huq the auditor of the bourse for the next year.
Newly elected Chittagong Stock Exchange (CSE) President Nasiruddin Ahmed Chowdhury urged the finance ministry to take measures to offload government owned shares to the private sector and meet the scarcity of good shares in the stock market.
Nasiruddin Ahmed Chowdhury made the appeal while speaking at the 12th annual general meeting (AGM) of CSE on the premises of CSE Bhaban in Chittagong recently.
He also urged the authority concerned to undertake reform of debt-equity ratio while approving large-scale projects for financing by the Bangladesh Bank.
Stating examples of the recent syndicated finance by the leading commercial banks to some large projects such as telecom, manufacturing etc., he said if those funds could be raised through the capital market, the market would be strengthened enough.
He said the CSE would continue spreading its wings by taking its services to the doorsteps of every investor across Bangladesh to spur investment activities.
"We want to reach every segment of investors and channel the pool of small investors' fund to the development of the country."
Nasiruddin Ahmed Chowdhury said the CSE also offered the perfect platform to investors all over the world through its Internet trading service. CSE is the third such exchange to have wide area network in the sub-continent out of the thirty-one stock exchanges, after the National Stock Exchange and the Bombay Stock Exchange of India.
He said, the CSE has been maintaining good corporate governance and transparency since its inception. He requested the new board to maintain this credibility in the future. He also sought the members' cooperation to increase markets liquidity and trade participation.
As part of the AGM programme, the CSE president awarded crest and certificates to top five CSE brokers for their outstanding trading performance for the year that ended on December 31, 2006. LankaBangla Securities Limited ranked first, ICB Securities Trading Company Limited second, International Securities Company Limited third, Salta Capital Limited Fourth and Royal Capital Limited ranked fifth.
The AGM approved the audited accounts for the year 2006 and re-appointed Rahman Rahman Huq the auditor of the bourse for the next year.