There is a crisis of good shares in the country’s capital market. No significant company has entered the market in the last decade. If foreign investors want to know the information for investment, no more than 20-25 companies can be named. So it has become very important to increase the number of good companies and shares in the market. When a good company comes in the market, many new investors will also come with it. If the number of quality shares and companies cannot be increased, this market cannot be made very big. This was stated by the leaders of DSE Brokers Association of Bangladesh (DBA)
They made the remarks on Wednesday (January 5th) to greet and congratulate the newly elected members of the Capital Market Journalists Forum (CMJF), an organization of capital market journalists. They greeted the new leaders at the CMJF’s own office at Purana Paltan in the capital.
DBA President Richard de Rosario, Senior Vice President Sajeed Shamim, Vice President Md. Saifuddin, CMJF’s new President Ziaur Rahman, Outgoing President Hasan Imam Rubel, Outgoing General Secretary Monir Hossain spoke on the occasion. Abu Ali, the newly elected General Secretary of CMJF, officiated the function.
Speaking on the occasion, the DBA President said that the regulatory body BSEC is doing various commendable works including reforming the law. However, in order to get the benefits of these works, it is necessary to increase the number of good shares in the market. All stakeholders, including BSEC, have a say in this matter.
DBA senior vice-president Sajeed Shamim said they would work jointly with CMJF to develop the capital market.
DBA vice-president. Saifuddin said that no company has come after Grameenphone to create a stir in the market. Effective initiatives are needed to bring multinational companies including Unilever, Standard Chartered, MetLife to the market to give a new impetus to the market.
CMJF President Ziaur Rahman said that in order to increase the contribution of capital market in the economy, it is necessary to provide money to the good and potential companies from this market. If these companies raise capital and expand their business, new jobs will be created, exports will increase, imports of manufactured goods will decrease and additional revenue will be paid to the government treasury.
He further said that there is a misconception about the capital market among the common people of the country as well as among the policy makers. Many are not able to realize the importance of this market. The members of CMJF will work sincerely to end their misconceptions and raise awareness about the capital market.
Hassan Imam Rubel, the recently departed president of the CMJF, said the development of the capital market and the free flow of information for investors are very important. The members of CMJF are helping to create an equal field for all and establish good governance by providing objective news.
Monir Hossain, the outgoing general secretary of CMJF, said that the objectives of CMJF and DBA are very similar. So these two organizations can work together to develop the market.