Stock Exchange Coordination and Monitoring Committee meets with finance ministry
They met to discuss the current situation of the capital market
The Stock Exchange Coordination and Monitoring Committee on Tuesday met with the Ministry of Finance to discuss seven agendas, including creation of special funds for capital market development, which had been proposed earlier.
"We talked about seven agendas in the meeting today. We also sought some information from the Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC) and National Board of Revenue (NBR)," said Financial Institutions Division Additional Secretary Mafiz Uddin Ahmed, also the convener of the committee.
He further said, "After getting the information, we will come up with a visible and positive decision by the end of this month or beginning of January."
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The committee, comprising representatives from the central bank, BSEC and NBR, met the finance ministry to discuss the current situation of the capital market. It aims to come up with constructive solutions for both the money and capital markets.
During a meeting in 2019 with Finance Minister AHM Mustafa Kamal, when the stock market was showing a falling trend, several proposals came from different regulatory agencies. These included the creation of special funds for capital market development, the provision of investment facilities in bonds and the exclusion of special fund investments from capital market exposure.
Bangladesh Bank has already implemented these policies.
However, the capital market regulator organisation also demanded paying dividends to companies which are in loss, giving unappropriated dividends toward the capital market stabilisation fund and calculating the money invested by banks based on the buying price.
The NBR was also asked to reduce corporate taxes.
