Literacy

Tofail for drawing multinational companies into stock market

Commerce Minister Tofail Ahmed has asked Bangladesh Securities and Exchange Commission (BSEC) to draw the multinational companies running businesses in the country into share market.

"Many multinational companies have been doing businesses here and making profits. I would tell BSEC chairman to take steps to draw those companies into the market," the minister said while speaking at the opening session of Bangladesh Capital Market Expo-2016 at the Institution of Diploma Engineers here today.

Online news portal 'Artha Suchak' organized the three-day fair. Editor of the portal Ziaur Rahman chaired the event which was addressed, among others, by BSEC chairman Dr M Khairul Hossain, managing director Dhaka Stock Exchange (DSE) KM Sajedur Rahman, Md Saifur Rahman Majumder of Chittagong Stock Exchange (CSE), DSE Brokers' Association president Ahmed Rashid Lali and Merchant Bankers Association president Sayedur Rahman.

Tofail Ahmed said the capital market is now at a stable position. The incident that took place in 2010 in the capital market was unexpected as many investors lost their money, he said, adding that merchant banks and investors needed to be more conscious at that time.

"The investors will have to be given assurance for their investment. Investors will not invest their money if they do not find the capital market stable and secure," he added.

He said the people's confidence in the capital market has increased because of Bangladesh Bank's capital market friendly policy. But the investors need to remain conscious about their investment, he said.

The commerce minister asked BSEC to give more attention to maintaining the prevailing stable position of the capital market and said that the country's economy will have to be taken ahead by maintaining stability of the capital market.

A total 44 organizations are taking part in the fair which will remain open for visitors from 10am to 8pm every day.

Source: Bangladesh Sangbad Sangstha (BSS)