CSE for introduction of clearing company and derivatives mkt

Asian Development Bank (ADB) Thursday sat with the Chittagong Stock Exchange (CSE) to exchange their views in a bid to implement the latest Capital Market Development Project-III (CMDP-III), officials said.

A delegation of ADB's consultative firm Aries Group held a meeting with the CSE at its Dhaka office.

The delegation of the Aries Group included its director Anthony B. Shoraka and senior consultant Lewis J. Mendelson.

On the other hand, the CSE Chairman Muhammad Abdul Mazid and managing director Syed Sajid Husain attended the Thursday's meeting.

The CSE officials said ADB is evaluating their previous two projects such as CMDP-I and CMDP-II by talking to the exchanges.

"While evaluating their previous two projects, the ADB is also taking our observation on as to how the CMDP-III can be implemented," the CSE managing director Mr. Sajid told the FE after holding Thursday's meeting.

He said at the meeting the CSE has stressed the need of investors' education for the sake of minimising their investment risks.

"We said education service for investors should be introduced by appointing investment advisor," Sajid said.

At the meeting, the CSE put emphasis on a complete road map for the introduction of clearing corporation and derivatives market.