BSEC chief confident in continuing upward trend in capital market

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat Ul Islam has expressed strong optimism that the capital market will continue to flow, saying that no quarter invested can now engage in any deed. criminal in the stock market as in the past.

“The government is working to ensure a good business environment. As per the instructions of Prime Minister Sheikh Hasina, we provide all kinds of support to investors who run business by keeping all regulations. We are working to ensure the rules, the regulations and good governance, ”he said in an interview with BSS on Thursday.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), crossed the 7,200 mark on Thursday for the first time after the index was introduced more than eight years ago in 2013.

DSEX rose 62.42 points or 0.86% to over 7,258 – the highest since inception. Two other indices – the DSE 30 index and the DSE Shariah index (DSES) – followed suit to close at their all-time highs of 2,647 and 1,592, after jumping by 33.60 points and 20.40 points respectively. .

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI – gaining 152 points to reach a record high of 21,131 and the Selective Categories – CSCX index increasing by 93 points. to close at 12,673.

Shibli Rubayat Ul Islam mentioned that the BSEC has taken a strict stance on maintaining regulation, which is a core responsibility that has subsequently boosted investor confidence.

To ensure investor safety, he said, BSEC’s legal, monitoring and oversight wings are always on the prowl and for that there is no possibility for the vested quarter to enter. on the market.

The BSEC President said the market is experiencing an upward trend based on demand and supply, adding: Market flow will be sustained. “

He said the capital market watchdog would invite more IPOs (initial public offerings) through which large companies would be able to manage long-term funding, potentially benefiting IPO winners of the primary market.

Shibli said that Bangladesh is now recognized as an attractive destination for investments in the world.

He mentioned that many research organizations have published positive reports on the economic development of Bangladesh and many investors from different corners of the world now want to invest in Bangladesh.

The head of the BSEC suggested that investors in the capital market, who do not have such know-how in the capital market, to invest in mutual funds and bonds.

“Our mutual fund industry shows great promise. BSEC continues its efforts to improve transparency and accountability in mutual funds,” he said.

BSEC is working with the public and private sectors to make bonds popular as an alternative investment sector, he added.

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