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Take steps to make capital market vibrant: PM

FE REPORT | July 21, 2022 00:00:00

Prime Minister Sheikh Hasina has advised the Bangladesh Securities and Exchange Commission (BSEC) to do the needful for keeping the country's stock market stable.

"The Prime Minister wants to see a vibrant capital market. She has instructed us to take whatever measures necessary to do so," BSEC Chairman Prof. Shibli Rubayat-Ul Islam told the FE.

The Prime Minister gave the advice when a BSEC delegation led by Prof. Islam called on her on Wednesday and donated Tk 50 million to the PM's fund for flood-affected people.

The BSEC chairman said the government has already provided enough support to stabilise the stock market.

Asked whether the issue of coordination among the regulatory bodies was discussed, the BSEC chairman said now the regulators are working in coordination with each other.

BSEC commissioners Dr. Shaikh Shamsuddin Ahmed and Md. Abdul Halim were present during the handover of the cheque.

The securities regulator made the donation from its (BSEC) own fund.

Meanwhile, a BSEC statement said a fruitful discussion regarding the country's capital market was held with the Prime Minister.

"The PM has also been informed of overall situation of the capital market," said the statement.

Besides, the securities regulator sought instructions from the Prime Minister to facilitate the implementation of the BSEC's plans taken for the development of the capital market.

"The Prime Minister has also assured BSEC of supports for overall development of the capital market," said the statement.

The securities regulator's statement also said BSEC chairman Prof. Shibli Rubayat-Ul Islam has been elected the first vice chair of Asia Pacific Regional committee of International Organisations of Securities Commission (IOSCO).

Mr. Islam has defeated the representative of China in the election held through electronic voting.

The BSEC chairman will play the role of vice chair for the period of 2022-24.

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