BSEC chair reassures of capital market’s due role in dev financing

Capital market would drive the economy through financing development and growth, reiterated Professor Shibli Rubayat-Ul-Islam, the chief of the securities regulator, on Friday.

He was speaking as the chief guest at the inauguration of the Capital Market Journalists Forum's (CMJF) new office at Al-Razi Complex at Paltan in the capital.

Bangladesh's capital market belongs to the frontier market group, while the story of its fast growing economy is drawing more attention globally.

Critics have long been speaking against the market's shallow nature, lack of diversified products, especially, backwardness in the field of debt securities.

Shibli Rubayat-Ul-Islam and his fellow commissioners joined the Bangladesh Securities and Exchange Commission (BSEC) in May last year and began working on the issues with a commitment that the market would better support the growth through providing companies and projects with more equity and debt.

Addressing the capital market reporters, he stressed the free flow of information for the sake of transparency and accountability and urged them to continue publishing objective and investigative reports.

Former BSEC chairman Dr M Khairul Hossain, incumbent BSEC commissioners, senior officials of the stock exchanges, top-tier capital market intermediaries, and representatives of the publicly listed companies were present at the ceremony.

CMJF is one of the prestigious forums of Bangladeshi journalists that is working on members' professional development and bridging the gaps between market stakeholders.

Beginning its journey in 2008, the forum was operating from rented floor space and now has shifted to its own space.

Thanks to the donations from a large number of the capital market stakeholders, the organisation's fund – initially set up with the members' annual subscription fees – grew larger.