Bangladesh’s economy will pick up after national elections: BSEC Chairman

Chairman of Bangladesh Securities and Exchange Commission (BSEC) Professor Shibli Rubayat Ul Islam has said the economy will pick after the upcoming national election.

He said the country's capital market was held back for over two decades.

BSEC Chairman said this while speaking as the chief guest at the opening transaction and ringing the bell ceremony of the Capitec Grameen Bank Growth Fund at the Dhaka Stock Exchange (DSE) on Tuesday.

Prof Islam said the capital market is very technical and many people could not understand its importance.

“Currently the market is moving forward. The market scope has increased a lot. New products are being launched. However, this market needs further development if the pace of economic development is to be sustained,” he said.

The BSEC chairman said that institutional investors and mutual funds are essential for a dynamic capital market and its stability. He said it will play an important role in meeting the needs of the economy after the national elections.

“If everyone works together, it will definitely be possible to take the mutual fund sector and the capital market a long way,” Prof Islam said.

The enrollment agreement signing and transactions inauguration ceremony was held at the DSE. Chief Controlling Officer of DSE Khairul Bashar Abu Taher Mohammad and Capitec Asset Management Limited Chief Operating Officer Sumit Pal signed the listing agreement on behalf of their respective institutions.

DSE's Managing Director (MD) Dr. Rabiul Islam, and Assistant General Manager of DSE's Listing Department ATM Tarikuzzaman, among others, spoke at the function.