PM calls for financial literacy to build a robust capital market
Hasina also vowed to ensure accountability and good governance to eradicate corruptions at different levels of the capital market
Prime Minister Sheikh Hasina has called for financial literacy and investors’ awareness to help build a robust capital market.
The prime minister said this while inaugurating a four-day seminar titled “Regional Seminar on Financial Literacy and Investor Protection” at a city hotel on Monday.
“The present government is working on creating a strong capital market, which will meet investors’ long-term financial goals”, Hasina said.
The Premier also said, “Our government is continuously extending its all-out cooperation through providing policy support, law amendments and infrastructure development to create a stronger capital market.”
Hasina also vowed to ensure accountability and good governance to eradicate corruptions at different levels of the capital market.
The “APEC Financial Regulators Training Initiative”, a platform working to enhance financial regulators’ capacity, organised the programme, which was hosted by Bangladesh Securities and Exchange Commission (BSEC) in partnership with Asian Development Bank.
The prime minister advised retail investors not to invest all of their money in the stock market which will eventually reduce their financial strength, if plans go wrong.
Bangladeshi stock investors suffered two major shocks in 1996 and 2010 as the market price had shot up abnormally and nosedived all of a sudden.
“Keeping it in mind, we included this issue [financial literacy] in our 2018 national election manifesto,” said Hasina.
“A countrywide programme on financial literacy has already been launched which will continue to create a knowledge-based investor community,” she added.
“Under this programme, the BSEC has already arranged financial literacy programmes at divisional level which will gradually be extended to districts as well.”
The PM hoped that the seminar will benefit the both local and foreign participants.
“This would help them strengthen their respective stock markets through exchange of experiences, knowledge and views.”
The four-day programme is scheduled to be divided into 12 sessions.
Representatives from India, Japan, Philippines, Nepal, Cambodia, Thailand, South Korea, Malaysia and Indonesia are attending the seminar.
Among others, ADB Country Director for Bangladesh Manmohan Parkash and BSEC Chairman Dr M Khairul Hossain also spoke at the event.
A video documentary was also screened describing the role of capital market in the country’s economic development.
