Home ›› 26 Dec 2021 ›› Stock
Bangladesh Securities and Exchange Commission Chairman Professor Shibli Rubayat-Ul-Islam has said there is no scope to repeat stock market scams like 2010.
He made the remarks at a seminar on capital market’s role in promoting small and medium entrepreneurs (SMEs) in Dhaka on Saturday.
Investors need to know that the share price fluctuation is a normal phenomenon in the stock market, he said.
He described the trading method of famous capital market investor Warren Buffet as an instance.
The famous stock investor sells shares at rising market and buys at falling market. This is the method the investors should follow, he said, adding that a falling market turns around when investors start buying.
Pledging to prevent any sort of irregularities and scams with a firm hand, the BSEC chief said the commission is committed to bring the money launderers to book and does not hesitate to take steps against manipulators ....no matter whoever he or she is.
Describing the SME as a crucial sector for the country’s economic development, Prof Shibli said the commission is working to take this sector forward.
The SME companies can now raise money from the stock market. This process has been made easier to attract the SMEs, he added. Daily Banjijjo Protidin organised the seminar and its Editor AKM Rashed Shahriar presided over the event at the Economic Reporters Forum (ERF) auditorium. Addressing the event, Bangladesh Merchant Bankers Association President Sayedur Rahman stressed on gearing up trading on the newly introduced SME board.
The investors who have a minimum investment of Tk 10 lakh should be given chance to enter share market. At the same time, he proposed exempting companies from obligation of paying dividends for the first two years.
Apart from that, the tax on SMEs should be cut down to 5 per cent in the next budget, he added.
BSEC Executive Director Md Rezaul Harim, Dhaka Stock Exchange Managing Director Tarique Amin Bhuiyan, Chittagong Stock Exchange Managing Director (acting) Golam Faruk, Bangladesh Merchant Bankers Association (BMBA) President Sayedur Rahman, Capital Market Journalist Forum President Hasan Imam Rubel, among others, spoke on the occasion.
