Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof Shibli Rubaiyat-Ul Islam on Tuesday said that ‘Green Bond’ would be launched in the capital market for ensuring sustainable development of the country.
The BSEC chairman gave the information while addressing virtually the inaugural session of a two-day conference titled “International Conference on Sustainable Finance and Investment 2021”.
The Bangladesh Institute of Capital Market (BICM) organised the conference marking the birth centenary celebration of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the Golden Jubilee of country’s independence, reports BSS.
Chaired by executive president of BICM Dr Mahmuda Akhter, former Bangladesh Bank Governor Dr Atiur Rahman, Global Green Growth Institute Director General Frank Rijsberman, acting Dean of Dhaka University business studies faculty Dr Muhammad Abdul Moyeen and Financial Institutions Division additional secretary Mafiz Uddin Ahmed spoke, among others, at the conference.
The BSEC Chairman said that Bangladesh is now doing better in all the economic indices while the country would have to move forward in double pace since Bangladesh could not attain desired development in the first 30 years of independence.
Shibli also stressed the need for working on the recommendations and strategies that would come from such kind of conferences.
Former central bank Governor Dr Atiur Rahman said that the banks usually manage short-term financing for which the capital market is the source of long-term financing.
“For this, the market regulator will have to ensure good disclosures to ensure efficiency of the market,” he said.
Urging the regulators to work in unison, Dr Atiur also underscored the need for giving due emphasis on financial reporting and corporate good governance to ensure a sustainable economy.
The renowned economist also said the source of long-term financing like insurance and pension funds are still weak for which there is a need to give due emphasis on these.
Global Green Growth Institute Director General Frank Rijsberman welcomed the move for bringing ‘Green Bond’ in the capital market of Bangladesh.
He said there is a need to give due emphasis on the researches of green projects in order to strengthen green financing in the country.
Sustainable and Investment specialists from Bangladesh and abroad as well as experts, researchers, professionals, market stakeholders and the high officials of different regulators are taking part in this two-day conference.