Be friendly with stock market : Tofail to BB
12 December 2015, Nirapad News: Commerce Minister Tofail Ahmed on Thursday urged Bangladesh Bank to be more stock market friendly to uphold the interest of investors for a further balanced growth in the national economy.
“Now the capital market is more stable than before. Bangladesh Bank needs to give more attention to this issue,” he said while inaugurating a three-day fair titled “Bangladesh Capital Market Expo 2015” here.
Arthosuchak, an online business news portal, organized the exhibition at the Institution of Diploma Engineers Bangladesh
(IDEB) with a huge participation of the investors in the capital market.
Tofail said the government has decided to extend the timeframe for adjusting commercial banks’ overexposure to the capital market by two more years since the situation has created panic among the investors in the stock market.
He said Bangladesh is now progressing fast under the dynamic leadership of Prime Minister Sheikh Hasina. Therefore, the capital market must be further strengthened keeping in view the need for more dynamism in the capital market, he said.
Referring to the already undertaken step for the 7th five-year plan, the Commerce Minister said the government is now looking forward to turning Bangladesh into a middle-income country shortly with massive development in all key sectors.
Tofail said after the 2010-11 debacles, many investors turned back from the capital market although it is the main source of capital for the country’s industrialization.
“More multinational companies such as Nestle and Unilever should be listed with the capital market to enhance the market’s depth and investors’ interest,” he said.
Stressing upon holding such exhibition regularly for a steady economy development in the country, Tofail Ahmed said this fair would help create greater awareness among the investors and brand Bangladesh’s capital market.
Deputy Governor of Bangladesh Bank M Abul Quasem and Chairman of Dhaka Stock Exchange Limited Justice Siddiqur Rahman Miah, among others, attended the ceremony with Editor of Arthosuchak Ziaur Rahman in the chair.