Frame new law to protect investors: Manzur Elahi
Wednesday, 20 October 2010
FE Report
Noted entrepreneur Syed Manzur Elahi Tuesday put accent on framing a new law keeping the 'exit policy' for the investors who invest in errant companies listed on the bourses.
"Many countries have such law, a minimum support for the shareholders of errant companies, but we don't have," Mr Elahi said while addressing the formal launching ceremony of MTB Securities, a new subsidiary company of Mutual Trust Bank Ltd (MTBL).
He said that creation of Z-category and launching of OTC market have failed to protect the interest of investors as some companies resort to the closure of the entities depriving the shareholders of a minimum return.
"Government must strongly consider the issue to sustain the growth of the stock market," Mr Elahi said.
Welcoming the healthy growth of the stock market, he said that Dhaka Stock Exchange (DSE) has already surpassed the Karachi Stock Exchange (KSE).
"It is a proud benchmark and we did not even think of it 20 years back," Mr Elahi added.
He assured that the 1996 debacle won't come again.
He emphasized on proper research of stocks and companies for the sake of healthy growth of the market.
Mr Elahi further said that stock market index is the barometer of the health of an economy in free market.
President of DSE Shakil Rizvi, president of CSE Fakhor Uddin Ali Ahmed, MTB director MA Rouf, MTB managing director Anis A Khan and MTB Securities CEO Nazrul Islam Mazumder also addressed on the occasion.
Mr Anis A Khan said that the new company will bring more professional efficiency in the stock market operations of MTB.
"We are the largest banking company to provide quality services to the stock market investors and more attractive package will be added to our service list," Mr Anis added.
DSE president Shakil Rizvi and CSE president Fakhor Uddin welcomed the launching of MTB Securities and said that the stock market will be benefited to a large extent through the launching of the new company.
“MTB Securities is the poineer of quality stock trading and we hope others will follow them which will help sustain the growth of the market,” Mr Shakil said.
Noted entrepreneur Syed Manzur Elahi Tuesday put accent on framing a new law keeping the 'exit policy' for the investors who invest in errant companies listed on the bourses.
"Many countries have such law, a minimum support for the shareholders of errant companies, but we don't have," Mr Elahi said while addressing the formal launching ceremony of MTB Securities, a new subsidiary company of Mutual Trust Bank Ltd (MTBL).
He said that creation of Z-category and launching of OTC market have failed to protect the interest of investors as some companies resort to the closure of the entities depriving the shareholders of a minimum return.
"Government must strongly consider the issue to sustain the growth of the stock market," Mr Elahi said.
Welcoming the healthy growth of the stock market, he said that Dhaka Stock Exchange (DSE) has already surpassed the Karachi Stock Exchange (KSE).
"It is a proud benchmark and we did not even think of it 20 years back," Mr Elahi added.
He assured that the 1996 debacle won't come again.
He emphasized on proper research of stocks and companies for the sake of healthy growth of the market.
Mr Elahi further said that stock market index is the barometer of the health of an economy in free market.
President of DSE Shakil Rizvi, president of CSE Fakhor Uddin Ali Ahmed, MTB director MA Rouf, MTB managing director Anis A Khan and MTB Securities CEO Nazrul Islam Mazumder also addressed on the occasion.
Mr Anis A Khan said that the new company will bring more professional efficiency in the stock market operations of MTB.
"We are the largest banking company to provide quality services to the stock market investors and more attractive package will be added to our service list," Mr Anis added.
DSE president Shakil Rizvi and CSE president Fakhor Uddin welcomed the launching of MTB Securities and said that the stock market will be benefited to a large extent through the launching of the new company.
“MTB Securities is the poineer of quality stock trading and we hope others will follow them which will help sustain the growth of the market,” Mr Shakil said.