Bangladesh Securities and Exchange Commission (BSEC) has taken the initiative to increase the financial capacity of trading and brokerage houses in the capital market, to bring stability to the market and to list well-founded companies to increase investment, to remove obstacles in attracting foreign investment and to gain the confidence of investors and return them to re-invest. BSEC has decided to hold a meeting with the Managing Directors (MD) and Chief Executive Officers (CEO) of the top 20 local brokerage houses in the capital market to determine the policy support for the implementation of these initiatives.
The BSEC will discuss with the top representatives of the brokerage houses in the conference room of the Securities Commission building next Thursday (October 24).
Tuesday (October 22) Deputy Director of Surveillance Department of BSEC. A meeting notice signed by Shahidul Islam has been issued.
The names of the 20 brokerage houses called in the meeting are – OCB Securities Trading Company Limited, UCB Stock Brokerage Limited, Longkabangla Securities Limited, BRAC EPL Stock Brokerage Limited, City Brokerage Limited, EBL Securities Limited, Shanto Securities Limited, Sheltech Brokerage Limited, Bank Asia Securities Limited, United Financial Trading Company Limited, IDLC Securities Limited, MTB Securities Limited, Prime Bank Securities Limited, NRBC Bank Securities Limited, Royal Capital Limited, BD Sunlife Securities Limited, Mercantile Bank Securities Limited, AIBL Capital Market Services Limited, Island Securities Limited and Shahjalal Islami BANK SECURITIES LIMITED.
A meeting has been organized at BSEC conference room on Thursday (October 24) to discuss current market conditions and other related issues for the development of capital market, the letter issued by BSEC regarding the meeting mentioned. BSEC Chairman Khandkar Rashed Maksud will preside over this meeting. Managing Directors (MDs) and Chief Executive Officers (CSEs) of 20 brokerage houses are requested to attend the meeting for relevant discussions.
When asked about this, Executive Director and Spokesperson of BSEC Mohammad Rezaul Karim told RisingBD that we have decided to hold a meeting with the representatives of the top 20 brokerage houses in the capital market next Thursday. The overall situation of the capital market will be discussed with them. We will discuss what kind of policy support stock brokers and stock dealers need to increase the volume of transactions in the capital market especially in the current context. BSEC will provide policy support as required in view of advice from brokerage houses. Besides, there will be a discussion about the policy to increase the financial capacity of the brokerage houses. What can be done to increase investor confidence will also be discussed. Apart from this, brokers will also be consulted on strengthening the stability of the capital market through the reform process. Discussions will be held on raising large-scale investment by listing well-founded companies in the capital market. At the same time, the opinion of brokers will be taken on what kind of policy support is needed to remove the obstacles to increase foreign investment investment. And how to increase the depth of the capital market and how to attract investors to invest by bringing diversified products to the market will also be discussed.
He also said that we will also discuss with the institutional investors of the capital market. BSEC is working to restore investor confidence as soon as possible. Its results are expected to be observed in the capital market in the future. The current stock market is more undervalued than ever. In such situation investors can get maximum profit by investing in capital market. It is expected that individual and institutional investors will return to investment very soon. We believe that the capital market will turn around soon.
Incidentally, the Ministry of Finance has informed about the initiative taken by the government to restore confidence in the capital market. They say that as a result of these initiatives, large, medium and small investors of the stock market will get quick benefits. The government will consider the matter and provide benefits to those who have suffered through past distress and share scams. This information was informed in a press release sent by the Ministry of Finance on Sunday (October 20).
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