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Govt securities to start trial trading in secondary market next week

UNB . Dhaka
03 Oct 2022 20:32:47 | Update: 03 Oct 2022 20:42:27
Govt securities to start trial trading in secondary market next week

The government securities will start trial trading in the secondary market from next week to turn the capital market vibrant, said Bangladesh Bank Governor Abdur Rouf Talukder on Monday.

He said the country’s fast-growing economy requires a huge investment that cannot be met only by bank lending. All sections of people have to invest in the stock market to create capital for growth, he added.

The governor was speaking at the opening ceremony of the ‘World Investor Week’ held at the Bangladesh Security and Exchange Commission (BSEC) Building in Dhaka’s Agargaon.

The governor also urged people to invest their money in both the bond market and share market as the government works to make rules and regulations investors’ friendly.

ALSO READ — World Investors Week begins today

He said the non-performing loan is increasing as the banks are lending to entrepreneurs on long-term against short-term deposits.

Sheikh Mohammad Salim Ullah, secretary of the Financial Institutions Division, said the finance ministry is working along with the central bank, National Board of Revenue (NBR), and BSEC for automation and transparency in share trading to gain the credibility of ordinary shareholders.

Other speakers suggested increasing the financial literacy of people along with rising institutional investment in the share market.

BSEC Chairman Professor Shibli Rubayat-Ul-Islam presided over the event, while Jean-Paul Bureaud, executive director, FAIR, Canada presented a keynote paper on the global investment issue, connecting virtually.

BSEC Executive Director Mohammad Rezaul Karim, Bangladesh Merchant Bankers Association President Md Sayadur Rahman, Bangladesh Association of Publicly Listed Companies Secretary General Md Amzad Hossain, and DSE Brokers Association of Bangladesh President Richard D' Rozario spoke in the function as panel discussants.

BSEC, a member of the International Organization of Securities Commissions (IOSCO), an association of organisations that regulate the world's securities and futures market, is observing the week-long fitting programmes.

Several seminars will be held with the stakeholders at the business faculty of Dhaka University focusing on the need for gaining more knowledge about capital markets.

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