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Only market literates should invest in stocks: BSEC chief

October 11, 2021 00:00:00


FE Report

Chairman of Bangladesh Securities and Exchange Commission (BSEC) Prof. Shibli Rubayat Ul Islam said the country's stock market is set to become an emerging market from frontier one soon overcoming existing obstacles.

Mr. Islam said this Sunday at a webinar titled 'Wise Investment, Sustainable Capital Market'.

DSE Brokers Association (DBA) and Bangladesh Academy for Securities Market jointly organised the programme to observe World Investor Week 2021.

"We will have to face obstacles as we are on the way to emerging market. Our market will be turned into emerging market from the frontier one soon," said the BSEC chairman Mr. Islam.

He said many investors become unconscious or are deviated from principles while making investments in the stock market.

"We have to face criticisms for a very few unscrupulous persons. All investors come to the market for returns. But many of them incur losses due to wrong decisions," said the BSEC chairman.

While speaking on prudent investment, the BSEC's chairman said an investor having no literacy should not invest in stock market despite the market is for all.

"There are losses and gains in all businesses. All stakeholders and investors have attachment to a vibrant stock market," said Mr. Islam.

He urged the DBA representatives to play due role to diversify the stock market through new products.

Dr. Shaikh Shamsuddin Ahmed, a BSEC commissioner, said there is no better place of investment other than the stock market.

"I differ with the opinion that the stock market is not for all. This market is for all and we will have to take measures as to how the market can reach to all," Mr. Ahmed said.

"Information and money are exchanged through stock brokers. That's why, brokers have huge responsibility in creating awareness among investors," said the BSEC commissioner Mr. Ahmed.

He said the BSEC is working on scams and they will continue the job of taking stern actions against the wrong doers.

Md. Eunusur Rahman, DSE chairman, Tarique Amin Bhuiyan, DSE managing director, among others, also spoke at the webinar moderated by DBA president Sharif Anwar Hossain.

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