UK Sinha
Bangladesh Securities and Exchange Commission (BSEC) will sign a memorandum of understanding (MoU) with the Securities and Exchange Board of India (SEBI) on November 22 to exchange views and experiences between the regulatory bodies of the two countries, officials said.
Arif Khan, a BSEC commissioner, told the FE that the MoU would be signed at the Ganabhaban in presence of Prime Minister Sheikh Hasina.
"SEBI Chairman Mr. UK Sinha will arrive Bangladesh on November 21 and the MoU will be signed on November 22 at Ghanabhaban," Khan said.
According to the BSEC, another view exchange meeting will be held between the SEBI chairman and the stakeholders of the capital market on November 23 at the Hotel Radisson.
BSEC commissioner Khan said after signing of the MoU a bilateral cooperation would be accelerated for exchanging views and experiences between the two regulators of Bangladesh and India.
"The scope of formalising the relationship with the SEBI after the BSEC achieved A category status from the International Organisation of Securities Commissions (IOSCO)," Khan added.
Md. Mahbubul Alam, the chief of the BSEC International Affairs Division, said both the regulatory bodies would exchange information and cooperation after signing the MoU.
"Normally, there is a routine relationship between the regulatory bodies. But the mutual understanding and bilateral cooperation between the BSEC and SEBI will be accelerated after signing the MoU," Mahbub said.
He said the SEBI's cooperation and vast experience would also help the BSEC in case of introducing new products.
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