Securities regulator invites NRB investments at Dubai roadshow
BSEC’s chairman has said now is the best time to invest in Bangladesh’s capital market
The securities regulator and stakeholders have invited non-resident Bangladeshis (NRBs), and foreigners, to invest in Bangladesh's capital market.
"It is the best time to invest in Bangladesh's capital market as the economy is thriving and policymakers are trying to utilise the funds," said Professor Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC).
"Removing inconveniences, the capital market now makes great offers to foreign and NRB investors," he said.
Keep updated, follow The Business Standard's Google news channel
Currently, Professor Rubayat's team, along with a large number of capital market professionals, are in Dubai for a roadshow to communicate the potential of Bangladesh as an investment destination.
Titled "Rising of Bengal Tiger: Potentials of Bangladesh Capital Markets," it is the first-ever event by the market regulator outside the country.
Land Minister M Saifuzzaman Chowdhury inaugurated the programme on Tuesday at the Park Hyatt Hotel in Dubai.
The BSEC chairman said to reduce the dependency on bank loans for economic development, Bangladesh is now focusing on equity and bonds, and the capital market is welcoming both issuers and investors.
Appreciating the role of NRBs in the development of the country, Professor Rubayat said, "Returns on bank deposits have plummeted both at home and abroad, and the Bangladesh capital market offers better returns on investments in bonds, mutual funds and of course in stocks."
The roadshow presented the success story of Bangladesh, as a potential economic powerhouse and an investment destination.
Professor Rubayat also informed the foreign and NRB investors about recent policy and infrastructure developments done to ease investors' lives.
Investors from abroad now just need to open a beneficiary owner account online – or go to the newly inaugurated digital booth of a brokerage firm – send money to Bangladesh and get the returns from investment, he explained.
The repatriation of money is subject to no additional approval nowadays, he added.
Online trading apps remove all spatial barriers for investors from any corner of the globe, said the BSEC chairman.
IDLC Finance's Managing Director Arif Khan, CFA, also a former commissioner of the BSEC, was the keynote speaker at the event.
BSEC Commissioner Khondoker Kamaluzzaman, Chairman of UCB Bank Anisuzzaman Chowdhury, Chairman of Haramain Group Mohammed Mahtabur Rahman, CEO of UCB Stock Brokerage Rahmat Pasha, Director of the Dhaka Stock Exchange Masudur Rahman, Executive Director of BSEC Mahbubul Alam, President of BMBA Sayadur Rahman, NRBC Bank Chairman Parvez Tamal, and others were also present at the summit.
The Dubai roadshow is due to continue till 12 February and different sessions would cover the potential of Bangladesh as a field of diversified investments with different target audiences.
