Work together to take the stock market forward: BSEC chairman
The country's capital market will see better days in the future, and for that, everyone will have to work together, said Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam on Monday.
"We are tired of hearing the words confidence in the stock market. We still don't know where and how to get this confidence. We think that 1996 and 2010 [two major collapses in the history of the stock market] will not come back again," he added.
"It is time to forget the old memories," the BSEC chairman said at the opening ceremony of the World Investor Week-2022.
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Bangladesh Bank Governor Abdur Rouf Talukder and Financial Institutions Division Secretary Sheikh Mohammad Salim Ullah were present at the event.
The BSEC chairman said the country will benefit if the capital market, the Bangladesh Bank, and all others work together to move the economy forward.
He said the capital market will always play a role in long-term financing. If this market is good, bank transactions will increase. The government will get more revenue. So there is no reason to think that the money market will suffer much if the capital market is large.
"To stabilise the market, we have formed the Capital Market Stabilisation Fund, which is playing a helpful role in increasing the liquidity of the capital market," said Professor Shibli-Rubayat-Ul-Islam.
He said the prime minister is always aware of the capital market and according to her instructions, the commission is working for the development of the market.
As a member country of the International Organisation of Securities Commissions (IOSCO), the BSEC has been observing the week every year since 2017.
The key messages of the campaign will be based on two themes: investor resilience and sustainable finance. These messages complement those of previous editions, such as fraud and scam prevention, and crypto assets.
The IOSCO is the leading international policy forum for securities regulators and is recognised as the global standard setter for securities regulation. The organisation's membership regulates more than 95% of the world's securities markets in some 130 jurisdictions, and it continues to expand.
