BD’s capital market missing from global investment discourse

Bangladesh remains largely absent from global and regional discussions on capital markets and investment, former Bangladesh Bank governor Dr Mohammed Farashuddin said on Saturday.

He noted that stock markets in cities such as Karachi, Lahore, Mumbai, Bangkok and Colombo -- and even Bhutan -- are regularly featured in international forums, while Bangladesh's capital market rarely draws similar attention.

Dr Farashuddin made the remarks as chief guest at the prize-giving and closing ceremony of NeXTor 2.0, an inter-university real-time capital market competition, held at East West University in Dhaka.

Speaking at the event, Dr Farashuddin, who is also chairperson of the Board of Trustees of East West University, said that over nearly seven decades --beginning with the former East Bengal administration and continuing under successive governments -- multiple initiatives have been taken to develop and strengthen the Dhaka and Chattogram stock exchanges.

"However, despite these efforts, Bangladesh's capital market has remained largely overlooked by the global financial and investment community," he said.

Dr Farashuddin expressed confidence that the Dhaka and Chattogram stock exchanges would eventually earn broad public trust. "Once that confidence is established, people would channel their surplus savings into the capital market, while foreign investors would also feel more assured about investing in Bangladesh."

NeXTor 2.0 concluded successfully in Dhaka, with participation from more than 30 universities across the country.

Sponsored by City Bank PLC in association with City Brokerage Limited and supported by 11 partner organisations, the competition -- organised by the East West University Investment and Finance Club -- engaged more than 260 teams, comprising over 750 undergraduate students, in hands-on trading, analysis and risk management.

Pro Vice-Chancellor of East West University Prof Dr Mohammad Ashik Mosaddik attended the programme as chair, while Mamun Rashid, chairman of Financial Excellence Limited and former managing director and city country officer of Citibank N.A. Bangladesh, was present as special guest.

The event was also attended by the club's moderator Leo Vashkor Dewri, along with faculty members, organisers, participants and students from various universities.

At the outset, the founding moderator, Leo Vashkor Dewri, welcomed the guests and thanked them for their presence.

Speakers shared their insights on NeXTor 2.0, highlighting the significance and impact of the initiative undertaken by the East West University Investment and Finance Club. Mamun Rashid described the programme as the first capital-market-based competition of its kind implemented by any institution in the country.

The primary objective of NeXTor 2.0 is to enhance students' understanding of the stock market and provide them with real investment experience.

The competition featured a total prize pool of Tk 205,000. 'Team FMV' from Bangladesh University of Professionals (BUP) won the competition and received Tk 50,000. The first runners-up, "Team NSUERS from DAF" of North South University, received Tk 30,000, while the second runners-up, "Team Singularity" from East West University, received Tk 20,000.

In addition to cash prizes, participants received certificates, awards and opportunities for continued learning.

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