Investment Corporation of Bangladesh (ICB) Chairman Professor Abu Ahmed said that there are very few companies with good fundamentals in our capital market. Companies that were good 30 years ago have become weak companies today. If we exclude these companies, then there are very few good companies in our capital market. Gradually, the amount of good companies in the capital market is decreasing. To strengthen the country’s economy, it is important to bring good companies to the capital market.
He said this while addressing the Chief Guest at a seminar on ‘Fundamentals of Investment and Investor Resilience’ organized on the occasion of World Investor Week on Wednesday (October 9).
Abu Ahmed said, I will request the government and its officials to increase the number of good companies in the capital market. A good capital market cannot be expected without fundamental companies. There should be some incentive to bring good companies to the capital market. It will work.
He said that there are big gaps in all sectors of the listed companies. To give something to the country, the capital market and the investors, good companies must be brought to the market. Big and good companies are not in the market. They should come to the market thinking about the interests of the people. People’s interest is the biggest.
ICB chairman said, time has come for DSE to regain its lost leadership. Be strong. We are far behind the capital market of neighboring country India. Why? Shout out. Take your proposal to the ministry and adviser if necessary. DSE and CSE should be empowered to work. Stock exchanges are responsible for monitoring what companies are doing. So far the powers of DSE and CSE have been curtailed. Why do we need stock exchange permission to see what companies are doing? It is the basic function of working of stock exchange. Search activities should be conducted under the Stock Exchange itself; In particular, IPOs and other capital raising matters. Stock exchange can give acceptable opinion on these matters.
Regarding ICB, he said, I have been given to a poor institution like ICB. Here I have nothing to do except to drink tea every day. Because ICB has nothing. I am saying them now. Because, later you will ask me, what are my achievements as ICB Chairperson? The performance of ICB in the last year is so bad that I would not buy the shares they bought at 80 taka, even at 10 taka.
DSE Chairman Mominul Islam and CSE Chairman AKM Habibur Rahman were present as special guests in this seminar organized by Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and DBA.
DBA President Saiful Islam, DSE Acting Managing Director AGM Satvik Ahmed Shah, DBA Vice President Md. Saifuddin, CSE Managing Director M Saifur Rahman Majumder, DCCI President Ashraf Ahmed, BIBM President Prashant Kumar Banerjee, US Federal Reserve Banking Supervision former Assistant Director Sabeth Siddique and GM and COO of DSE. Samiul Islam.
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