ICB for taking appropriate initiatives

A meeting of Investment Corporation of Bangladesh (ICB) with the representatives of listed companies of OTC Market was held at the Head Office of ICB recently with Mr. Md. Fayekuzzaman, Managing Director of ICB in the Chair.

The representatives of Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), high officials of ICB and representatives of OTC listed companies attended the meeting.

The meeting had detailed discussion on the companies' present position, present transactions system and the other difficulties with the OTC. The meeting also discussed possible ways and means of getting rid of this problems.

The representatives of the OTC Market mentioned their problems in operating their companies and other obstacles hindering in their returning to regular market.

The Managing Director of ICB stressed on taking appropriate initiatives so that investors in the OTC Market are not suffered. Otherwise these may cause immense loss to investors and may create negative impact on Capital Market.

It was also opined that the OTC market should not deal with only non performing companies rather profitable companies with comparatively lower capital base may be listed with OTC market.

The representatives of OTC companies requested to reduce the relevant charges. The meeting also requested the concerned authorities to ensure close monitoring of the activities of the companies who are willingly avoiding enlistment in the regular market.

The Chair in the meeting also requested DSE & CSE to extend all possible help in this regard. Representatives of exchanges assured all possible help, said a statement.