Finance adviser Salehuddin Ahmed on Tuesday said that the current bearish vibe of the capital market was due to the reforms being carried out.
Referring to the changes made by the interim government in the Bangladesh Securities and Exchange Commission and the changes in two stock exchanges and other stakeholder organisations related to the capital market, the finance adviser said, 鈥榃e have taken some actions and asked for suggestions for further reformations.鈥�
鈥榃e will do what is necessary to improve the capital market,鈥� he said while talking to reporters after a meeting with all stakeholders of the capital market at the Dhaka Stock Exchange headquarter in the capital Dhaka.
No policies are being taken to favour any particular one, he added.
The Dhaka Stock Exchange lost a total of 638.60 points since September 1, 2024 session till Tuesday.
鈥楲arge corporations usually collect long term financing from the capital market. We are not willing to issue bank financing anymore. We are encouraging large corporations to enter the capital market so that people can gain confidence on both the market and the companies,鈥� the finance adviser said.
鈥楽everal measures were taken to improve the market, including liquidity support. We have sat down with the market stakeholders to discuss all issues. We hope that the market will improve,鈥� he added.
Minhaz Mannan Emon, a shareholder director of the DSE told 抖阴精品 that this is the first time ever that the DSE has held a meeting with all stakeholders of the capital market.
鈥楾he meeting discussed various things, including empowering DSE more, the need for Bangladesh Securities and Exchange Commission to take market oriented steps, bringing good initial public offerings, and not interfering with other organisations duties,鈥� he said.
The meeting also discussed the need to address negative equity of the merchant banks urgently, the DSE director further said.
Representatives of the Ministry of Finance, Financial Institutions Division, BSEC, Bangladesh Bank, National Board of Revenue, DSE, Chittagong Stock Exchange, Insurance Development and Regulatory Authority, DSE Brokers Association of Bangladesh, Bangladesh Merchant Bankers Association, Investment Corporation of Bangladesh, and Financial Reporting Council, Association of Asset Management Companies and Mutual Funds attended the meeting.