FRA bill to be placed in next JS session

The country's capital markets are awaiting a 'take off period' because of investors' confidence restored in last two years.
The chairman of Bangladesh Securities and Exchange Commission (BSEC) Prof M Khairul Hossain Wednesday said this at the inauguration ceremony of Internet Trade Fair (ITF) organised by Chittagong Stock Exchange (CSE).
 "Capital market showed stable behaviour in last two years as investors' confidence restored. The market is awaiting a take off period," Mr. Khairul said as special gust of the ceremony.
The first ever ITF arranged by port city bourse started Wednesday at the Institute of Diploma Engineers Auditorium and will end on Thursday (today).
M. A. Mannan MP, state minister for finance and planning, inaugurated the trade fair by executing a dummy buy order of one hundred shares of a listed company.
Mr. Mannan said the bill of proposed Financial Reporting Act (FRA) will be placed in the parliament in next session.
 "The government wants to ensure it that everyone will abide by the rules and regulations of the capital market. The government does not want interfere in the capital market other than the implementation of rules and regulations," Mannan said.
In his speech the BSEC chairman said the securities regulator has achieved self dependency in terms of man power, infrastructure and financial solvency.
 "Internet trading service should un-interrupted. The demand of opening branches of brokerage firms will be reduced if the internet trading service gets popularity," BSEC chairman Khairul said.
CSE chairman Dr. Muhammad Abdul Mazid said capital markets are playing important roles in the country's successive development.
He said time to time reforms will be needed to facilitate non-resident Bangladeshis (NRBs) willing to execute share trading through internet.
CSE managing director Syed Sajid Husain said in course of time investors may not need to go to brokerage houses as their trading will be executed through internet trading service.
DSE managing director Dr. Swapan Jumar Bala, ICB managing director Md. Fayekuzzaman and the top officials of different banks and financial institutions attended the ITF opening ceremony.

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