Financial research seminar inaugurated at BICM

A research seminar was launched on 28 January at the capital's Bangladesh Institute of Capital Market (BICM). 

Professor Dr Mohammed Farashuddin, former governor of Bangladesh Bank and founding vice-chancellor of East-West University was the chief guest at the seminar titled "BICM Research Seminar Series."

Professor Shaikh Shamsuddin Ahmed, commissioner of Bangladesh Securities and Exchange Commission (BSEC) inaugurated the ceremony, according to a press release. 

The program was chaired by Dr Mahmuda Akter, executive president of BICM and a professor of Accounting and Information Systems at the University of Dhaka.

Mahmuda presented a research paper titled "The effects of IPO financing and monetary policy on economic growth in Bangladesh: A dynamic assessment" during the seminar.

The study analysing data from 1981 to 2019 showed that the financing provided through IPOs in the Bangladeshi stock market over the past 39 years does not have much impact on the economic growth in the long run.

Dr Farashuddin said that factors such as the lack of governance in the stock market, unfair competition with the banking system, and the occasional collapse of the market hampered the contribution it could have made to the economic growth of the country.

BSEC Commissioner Prof Shaikh Shamsuddin Ahmed said that the present commission is constantly working to revive the stock market by revising the corporate governance code, using modern technology, and finding new ways of financing.

He added that the rules of the SME board have already been made and steps have been taken to finance NGOs.