6 days ago

Regulator signs cooperation deal with IFC

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The securities regulator has signed a cooperation agreement on national sustainability bond guidelines with International Finance Corporation (IFC).

The chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof. Shibli Rubayat Ul Islam and IFC country manager (Bangladesh, Bhutan and Nepal) Martin Holtmann on Thursday signed the agreement at the BSEC office.

Under the corporation agreement, the IFC will work closely with the securities regulator to strengthen the reporting and regulatory framework.

The IFC will also work to help revise the corporate governance code and develop the sustainable bonds.

Under the agreement, local market intermediaries and training institutes will get support to hold more training programmes.

The BSEC officials said another objective of the deal with the IFC is to ensure due diligence and corporate governance of the financial institutes.

IFC will facilitate the development of a 'level bond market' comprising green, social, climate and blue bonds.

The IFC will also help implement the national sustainability bond guidelines.

"The national sustainability bond guidelines will help mobilize finance for the development of the blue and green economy in Bangladesh," IFC country manager Mr. Holtmann said.

He said the IFC is committed to improving environmental, social and governance practices in the country.

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