Only AL govt paid attention to capital markets: Muhith

Only AL govt paid attention to capital markets: Muhith

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Dhaka: Finance Minister AMA Muhith on Wednesday claimed that the Awami League-led government is the only one to have paid attention to the country’s stock market.
“None but the Awami League paid attention to the country’s capital market. But unfortunately two big pushes (debacles) in capital market-one in 1996 and another in 2010-happened during the Awami League tenure,” he told a seminar organized by the Bangladesh Merchant Bankers Association (BMBA) in the city’s Sonargaon Hotel. UNB News Agency Reported.
The Finance Minister, however, said the capital market now is stable and the government has at last established a “rule-based capital market.”
“Now a situation has been created to retain investors’ confidence. Prime Minister Sheikh Hasina’s strong commitment for development of the capital market will continue,” he said.
The seminar titled “Bangladesh Capital Market: Present Scenario and Future Prospect,” was also addressed by State Minister for Finance and Planning Abdul Mannan, Bangladesh Security Exchange Commission (BSEC) Chairman Dr. Khairul Hossain, and merchant banker Mosharraf Hossain. BMBA president Md Sayadur Rahman presided over the function.
Muhith said development of a vibrant and efficient capital market is essential for the country’s private investment in order to continue the current GDP growth momentum.
He urged the private investors to mobilise their fund from the capital market to contribute in the country’s economic growth.
Giving a description about his experience with capital market he said this market has brought a pain for him. “That’s why I did not make any comments in last few years. But now stability came in the market and I’m very satisfied with the satiation. It’s going on in compliance with the law”.
Making a suggestion to the organisations involved in the capital market he said there should be a bond market to trade in the capital market for a balance growth in the economy. There are many people who want a secured bond market to invest.
He said the country’s get a more vibrant capital market in 2018. More investment will come from capital market. So future of the capital market is bright, he added.

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