Good companies see stock market as 'casino': Khosru
Government preparing major reform programme to restore confidence, attract foreign investors and securitise state assets.
Finance Minister Amir Khosru Mahmud Chowdhury today (25 April) said many well-performing companies currently view Bangladesh's stock market as a "casino".
"Comprehensive reforms were underway to restore credibility in the capital market," he said while speaking at a pre-budget discussion with editors of print, electronic and online media, and television executives at the Secretariat.
"We have a major programme for the stock market; wait a little and you will see changes. The capital market will be fully reformed," he said. "Good companies want to come to the market, but they see it as a casino. And no good company will enter a casino."
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The finance minister also said the government was working on initiatives to attract foreign fund managers and investors interested in emerging markets.
"We have assigned responsibility to a dedicated person to oversee the capital market, and he will have my full support. You will see visible changes soon," he added.
Highlighting a potential financing strategy, he said the government was considering securitising state-owned assets. "For example, the Jamuna Bridge has already been fully paid off and carries no liabilities. If we securitise its future income streams, it can generate funds. We are exploring such options to bring assets into the securities framework," he explained.
