Capital market achieves high quality structure: Muhith

FE Report | Published: December 06, 2018 10:44:52 | Updated: December 08, 2018 10:50:42

Finance minister AMA Muhith said the country's capital market has achieved the ability of performing like a high quality market although its expansion is yet to be remarkable.

He said this on Tuesday evening in a ceremony, arranged by Bangladesh Securities and Exchange Commission (BSEC) in honour of him.

"Now we have no need for interfering in the activities of the securities regulator as the capital market has achieved high quality structure through accomplishment of reform works," Muhith said.

He said the BSEC has executed reform works with sincerity under the leadership of the ministry.

"The expansion of the capital market is yet to be remarkable. But the market has achieved the structure of a high quality one," the minister said.

He said during the tenures of Awami League, the capital market witnessed debacles twice.

"That's why it was a big challenge for the Awami League government. Then we have started the job of restructuring the regulatory body," Muhith said.

He said their objective of reforming the regulatory body and rules and regulation was to contain 'bubble'.

"Now the capital market has achieved the ability of forming a high quality market," said the finance minister.

The finance minister also said he would work for economic related areas until his death in spite of retirement from formal responsibilities.

Md. Asadul Islam, the secretary of the financial institutions division, said the finance minister has played a vital role to stabilise the market.

The BSEC chairman professor M Khairul Hossain said the capital market's reforms including the exchange's demutualisation were executed under the leadership of the finance minister.

"Capital market is now stable," the BSEC chairman said.

BSEC commissioner professor Helal Uddin Nizami said the finance minister delivered direct and indirect instructions for bringing reforms in the capital market.

Another BSEC commissioner Dr. Swapan Kumar Bala said the major development of the capital market is its stability.

Former BSEC commissioner Arif Khan and BSEC executive director Farhad Ahmed, among others, also spoke at the event.


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