Development of mutual funds and increase in confidence of investors is essential for the sustainable development of the country’s capital market. Bangladesh Securities and Exchange Commission (BSEC) Chairman Khandkar Rashed Maqsood said that Investment Corporation of Bangladesh (ICB) should be more proactive to make mutual funds more popular and take effective steps for the development and development of this sector.
He said these things at a discussion meeting organized with the top representatives of ICB at the Securities Commission building in Agargaon of the capital on Sunday (October 20).
At this time BSEC Commissioner Mu. Mohsin Chowdhury, Farzana Lalarukh, BSEC officials were present. On the other hand, the managing director of ICB. Abul Hossain and other top officials were present.
BSEC Executive Director and Spokesperson Mohammad Rezaul Karim signed this information in a press release.
BSEC Chairman said that ICB will play an active, responsible and leading role in bringing sustainable and proper reform of the capital market. As the largest investor in the country’s capital market and a government-owned investment company, ICB has to make a special contribution to the development of the country’s capital market.
He also said that reforms are at the center of development and welfare of the capital market. The task force formed by BSEC is working independently for the sustainable and proper reform of the country’s capital market and several focus groups consisting of capital market related and experienced people will work under the task force to plan the reform.
He identified the existing problems in the way of development of the capital market: he emphasized on taking steps to solve them and being proactive.
In the event, initiatives were taken to formulate policies for funding from the capital market for long-term financing of nationally important development projects, reforming track holders margin regulations in the case of securities purchase, reforming the rules related to the distribution of interest on customers’ integrated bank accounts, determining a reasonable lower limit of brokerage commissions, simplifying treasury bond transactions and interest payments, Taking the initiative to list the existing government and multinational companies in the capital market, implementing market maker activities quickly, providing opportunities to participate in treasury bill auctions through stock brokers, launching various products/services based on blue-economic zone with specialized bond-green financing for the development of health-medical-tourism sector, secondary The senior officials of the IC presented various proposals regarding the reform of share settlement period in market transactions, reform of capital market tax policy etc.
Besides, ICB officials said that the efforts of ICB are continuing in listing well-founded companies in the capital market and bringing new products. In addition, ICB presented several strategic recommendations in the meeting regarding the development of the country’s mutual fund sector.
BSEC is exchanging views with various institutions, organizations and stakeholders regarding the overall reform of the capital market. Above all, it was informed in the meeting that BSEC is working tirelessly to build a transparent and prosperous capital market with the opinion and participation of all those concerned with the country’s capital market and with the cooperation of stakeholders.
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