Active bond market imperative for financing mega projects: BB

DCCI team calls on BB Governor

FE Desk | Published: February 15, 2018 22:12:56

A delegation of Dhaka Chamber of Commerce and Industry (DCCI) called on Bangladesh Bank Governor Fazle Kabir Thursday.

Governor of Bangladesh Bank Fazle Kabir Thursday said an active bond market is imperative for financing large mega infrastructure projects.
"We should have a thriving bond market as the banks are not financing for long tenure," the BB Governor said when a delegation of Dhaka Chamber of Commerce and Industry (DCCI) called on him.
He said Bangladesh Bank has taken initiative to discourage remittance inflow through non-banking channels and now remittance through proper banking channel has been increased.
The BB governor also said existing liquidity crisis is a very temporary issue and very soon there will be no liquidity crisis in the money market.
He requested the businessmen of Bangladesh to invest their money in Bangladesh to create more jobs. He said there are many incentives for non-resident Bangladeshis if they invest in Bangladesh. The Governor said BB has given directives to the commercial banks to increase their lending specially to the SMEs of rural areas of Bangladesh.
DCCI president Abul Kasem Khan led the DCCI delegation in the meeting.
Change Management Adviser of Bangladesh Bank Allah Malik Kazemi, Banking Reform Adviser of Bangladesh Bank S.K. Sur Chowdhury, Chief Economist of Bangladesh Bank Dr. Faisal Ahmed were also present.
DCCI President Abul Kasem Khan said that in order to develop capital market, cooperation and coordination between Bangladesh Bank, Bangladesh Securities & Exchange Commission, Dhaka Stock Exchange, Chittagong Stock Exchange, Insurance Development Regulatory Authority are imperative.
The DCCI president said to raise investment to GDP ratio by only 1.0 per cent, which means injecting of money close to Tk. 200 billion into the economy and this extra money can be collected through capital market, bond market and through various funds.
DCCI Senior Vice President Kamrul Islam, FCA, Vice President Riyadh Hossain, Directors Engr. Akber Hakim, Hossain A Sikder, Humayun Rashid, KMN Monjurul Hoque, Nuher L. Khan, Salim Akhter Khan, Waqar Ahmad Chowdhury and Secretary General AHM Rezaul Kabir were present during the meeting.