Quality IPOs, investors’ awareness DSE’s main challenge

The main challenge of the premier bourse is to be a profit oriented organisation as the mutual exchange has turned into a demutualised exchange.

The managing director of the Dhaka Stock Exchange (DSE) Dr. Swapan Kumar Bala said this Monday at a meeting held with the representatives of the Asian Development Bank (ADB) at a city hotel.

According a DSE statement, Mr. Bala said the other challenges of the capital market include: to accelerate the country's industrialisation through quality IPOs (initial public offering), to enhance the capacity of stakeholders and to increase investors' awareness.

The ADB Executive Director Mr. Maliami bin Hamad moderated the discussion held on the challenge of Bangladesh's economy, expectation and possible solutions.

The ADB's two executive directors Mr. Umesh Kumar and Mr. Muhammad Sami Saeed, the country director Mr. Kazuhiko Higuchi and deputy country director Mr. Oleg Tonkonojenkov, the principal economist of ADB's Bangladesh office Mohammad Zahid Hossain, the president of Bangladesh Women Chamber of Commerce and Industry (BWCCI) Selima Ahmad, the chairman of ACI Limited M Anis Ud Dowla, among others, were present at the discussion.

The DSE Managing Director Mr. Bala stressed the development of the capital market through the plan-wise introduction of new products, commodity exchange and derivatives.

Apart from the DSE, Bala has also expressed his willingness to work with the ADB in conducting the ADB's upcoming projects for the developments of the capital markets.

In his speech the DSE's incumbent director Shakil Rizvi supported the proposal of the DSE managing director.

The ADB will start its Capital Market Development Project-III (CMDP-III) in April next and presently is evaluating the CMDP-I and CMDP-II which have almost been completed.