Commodities exchange will be a place for trading futures contracts: BSEC commissioner Mizanur Rahman
Commodity exchanges play a key role in soothing markets
A commodities exchange, yet to be introduced in Bangladesh, will lead to stabilising commodity prices in the local market through integration with foreign markets and can contribute to the country's overall development, said Dr Mizanur Rhaman, commissioner, Bangladesh Securities and Exchange Commission (BSEC).
"A stock exchange is a place for trading securities while a commodities exchange will be a place for trading futures contracts for buying and selling commodities. A commodities exchange can play a key role in soothing markets so it is deeply related to the development of our country," said Mizanur Rahman as chief guest at a conference in Chattogram.
BSEC and Chattogram Stock Exchange (CSE) jointly organised the conference on corporate governance on Thursday, where secretaries of many listed companies participated.
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Mizanur Rahman said BSEC has been working for 15 years to reduce corporate crises. The commission also oversees the appointment of auditors and ensures accountability between company boards, board committees, and investors.
At the seminar, CSE Managing Director (Acting) Ghulam Faruque said, "We will try to launch the commodities exchange this year, albeit with one product."
CSE Chairman Asif Ibrahim, presiding over the programme, said, "A company's board of directors is the primary force influencing corporate governance. Good corporate governance guides leadership and aligns the interests of shareholders, directors, management and employees, which helps build investor confidence."
There were various sessions in the seminar such as "Related party transactions and disclosures", "Auditing of financial statements and audit opinion", "Corporate governance audit", and "The role of corporate boards and board committees".
CSE Director, Major (Retd) Emdadul Islam, gave the opening speech at the conference while BSEC Executive Director ATM Tariquzzaman presented the keynote address. CSE Managing Director (Acting) Ghulam Faruque spoke on the occasion, among others.
