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Stress on investors' financial literacy

FE Report | September 21, 2017 00:00:00

Discussants have stressed the need for spreading financial literacy among investors and stakeholders to increase their knowledge base about the country's capital market and thus cut investment risks.

They attached the importance to the country-wide financial literacy programme at the inaugural ceremony of a workshop arranged for journalists covering the capital market.

State minister for finance and planning MA Mannan MP attended the programme as the chief guest, while the chairman of the securities regulator Professor M Khairul Hossain was the special gust.

"The regulator has brought enough reforms in rules and infrastructur\e of the capital market. But the outcome of the regulatory reforms will not be reflected in the capital market unless investors are literate," said Professor Khairul.

He said, however, the interest of foreign investors is increasing following the reforms.

The chairman of the securities regulator said the contribution of the country's capital market to the economy is yet to be at a satisfactory level like other countries.

"The contribution of our capital market to economy is less than 10 per cent which is much lower than the contribution of other countries' capital markets," Khairul said. He further stressed more utilisation of the capital market for industrialisation.

State Minister MA Mannan MP said the financial literacy is required in all sectors to enhance the country's overall development.

"The rules which are creating obstacles to the capital market should be removed. Good ideas should be encouraged for development of the market," said Mr. Mannan.

The executive director of the securities regulator Mohammad Saifur Rahman, the president of Bangladesh Merchant Bankers Association (BMBA) Saidur Rahman and the president of Capital Market Journalist Forum Hasan Imam Rubel, among others, also spoke at the programme.

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