TIB against unconditional investment of black money in share mkt

Transparency International Bangladesh (TIB) on Thursday voiced concern over the decision to allow the investment of undisclosed money in the share market without any condition, reports UNB. The local chapter of the global graft watchdog, however, welcomed the Prime Minister's initiative to overcome the crisis in the country's capital market. "The investment of undisclosed money in the stock market is ethically unacceptable and risky when it comes to healthy and balanced competition," TIB executive director Dr Iftekharuzzaman said in a statement on Thursday. He said the decision will encourage black money holders to earn money illegally and discourage legal earning. "Ultimately, the control of the share market will go to the black money holders." The TIB executive director said the losses suffered by small investors will get heavier removing the possibility of healthy competition in the share market. He said TIB urges the government to reconsider the matter.