Industry

Visiting IMF team will meet BSEC to discuss capital market on Nov 7

The International Monetary Fund (IMF) will sit in a meeting with the Bangladesh Securities and Exchange Commission (BSEC) on November 7 to discuss issues including the current status of the capital market and the imposition of floor prices.

 

Bond market development, risk management and control, compliance infrastructure and enforcement measures in the market will also be discussed in the meeting, according to officials involved with the process.

 

Read more: Bangladesh Bank will go slow in calculating reserves following IMF formula

 

BSEC spokesperson Mohammad Rezaul Karim told UNB on Monday that the regulator is making all preparations for the meeting.

 

BSEC Chairman Shibli Rubaiyat-ul-Islam, Commissioners, and Executive Officers will be present in the meeting, he said.

 

To prevent the ongoing fall in prices, the BSEC floor price system was imposed on the capital market on July 28 this year.

 

Although its market is on the rise, two-thirds of the companies listed in the capital market are currently stuck at the floor price. Investors are not able to buy and sell shares of these companies despite their desire.

 

Read more: Talks for loan with IMF satisfactory, says central bank spokesman

 

As a result, the capital market transactions are continuously decreasing.

 

A delegation of the global lender IMF from Washington arrived in Dhaka on October 26 to discuss a $4.5 billion loan sought by Bangladesh amid dwindling foreign currency reserves.

 

Source: United News of Bangladesh