‘Robo advisor to enter local stock market soon’

The country’s stock market will enter the era of Robo advisors soon to help investors make investment decisions, Dhaka Stock Exchange (DSE) Managing Director Tarique Amin Bhuiyan has said.

He made the remarks at a seminar on Sunday on conscious investment, sustainable capital market organised by DSE Brokers Association of Bangladesh (DBA) and Bangladesh Academy for Securities Market (BASM) to mark the World Investors Week.

A robo-advisor is an artificial intelligence (AI) driven virtual financial advisor. It is a type of expert system optimized for financial services, specifically for investing and portfolio management advice.

The DSE managing director said the bourse has been working to introduce exchange traded fund (ETF) as the alternative of mutual fund for the investors.

Addressing the function, Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam said the capital market needs to move forward by overcoming obstacles. He also urged all to invest in stocks with handsome capitals and carry out share trading in a cautious manner.

The BSEC chairman appreciated the significant role of brokerage houses in share trading and said they can play a greater role to make the investors aware.

He, however, expressed contentment with activities of the brokerage houses in the secondary market and hoped that they will keep up their good works.

Referring to controversial performances of some brokerage houses, Professor Shibli Rubayat urged the brokers association to take immediate action against them before the intervention of the stock market regulator.

Meanwhile, BSEC Commissioner Shaikh Shamsuddin Ahmed said that the commission had been promoting green bonds and blue bonds with a view to ensuring sustainable finance.

The commission, at the same time, is trying its level best to keep the capital market free of financial scams, he said, reaffirming that the capital market is now a good place for all types of

investments.

Among others, DSE chairman Md Eunusur Rahman spoke on the occasion and urged the general investors to invest with proper knowledge.

He advised that the investors should carry out share trading of their own after gaining experience.

BASM Director General Dr Toufic Ahamad Choudhury presented the keynote paper at the webinar. He made a call to refrain from spreading propaganda about the capital market.

Speaking at the function, DSE Director and former DBA President Shakil Rizvi said real investors never lose money. The unaware investors who pour money in stocks being allured by rumors become loser, he added.