Govt is working for building robust capital market: PM Hasina

Prime Minister Sheikh Hasina today said her government has been working to build a strong and stable capital market giving necessary financial education and all possible protection to investors as she opened a regional seminar on investors’ promotion.

“The present government is working on creating a strong Capital Market, which will meet long-term financing needs to the investors”, she said while inaugurating the four-day “Regional Seminar on Financial Literacy and Investor Protection” in a city hotel here.

The seminar is being jointly organized by Bangladesh Securities and Exchange Commission (BSEC) and the Asian Development Bank (ADB).

“Our government is continuously extending its all out cooperation through providing policy support, law amendments and infrastructure building for creating a stronger capital market,” the premier said.

The prime minister also vowed to ensure accountability and good governance to eradicate corruptions at different levels in the capital market.

Stressing the need for increasing the participation of retail investors in the capital market, she said “Our Capital Market is still being driven by retail investors. To make Capital Market vibrant, we need to increase the participation of institutional investors there.”

The premier also said “A country-wide program on investment literacy has already been launched which remains continued to create a knowledge based investor community.”

Noting that reducing the risk of individual investors, BSEC is running country-wide investment literacy program, the premier said “Under this program, BSEC has already arranged financial literacy program at divisional level which will gradually be extended to district level.”

By this time, Bangladesh Academy for Securities Market (BASM) has been established to this end, she said

Calling upon the investors not to invest money in the stock market whimsically, the prime minister said “In fact, investors are the main driving force of the capital market. If investors take informed decision, it will, on the one hand, help reduce investment risk and on the other hand, it will also act as a supplementary element in ensuring stability of the market. ”

“Considering importance of this, we included this issue in our 2018 national election manifesto named ‘Bangladesh on Path to Progress and Prosperity’ or ‘Shamriddir Agrojatray Bangladesh'”, she said.

“We believe that knowledge and techniques of investment for all of the related stakeholders of Capital Market including retail investors will accelerate the process of financial inclusion,” the prime minister said.

The premier hoped that under the auspice of the Asia-Pacific Economic Cooperation’s Financial Regulators Training Initiative (APEC-FRTI), the seminar co-organized by the BSEC and ADB will benefit the participants from home and abroad.

This also would help them strengthen their respective stock markets through exchange of experiences, knowledge and views, she added

The objective of the seminar is to enhance the financial literacy and protection of the investors of the capital market.

The representatives of India, Japan, Philippines, Nepal, Cambodia, hailand, South Korea, Malaysia, Indonesia, and Iceland are attending the seminar.

Among others, ADB country director for Bangladesh Manmohan Parkash and BSEC Chairman Dr M Khairul Hossain spoke on the occasion.

A video documentary was also screened describing the role of capital market in the country’s economic development.

Source: bss