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The Bangladesh Institute of Capital Market (BICM) has taken an initiative to create licensed sales agents of mutual fund units to promote such funds across the country.
The Institute of Capital Market on Thursday announced the launch of the “Licensed Mutual Fund Selling Agent Certification Programme” for this purpose.
Anyone who completes the course successfully can work as a mutual fund sales agent and sell mutual fund units of as many fund managers as he/she wants, officials said at a press conference at the Institute of Capital Market’s auditorium on Thursday.
The programme will have nine modules, which will be completed in four to nine days. It will be finalised after getting the participants’ response in this regard.
The classes will be conducted held at the Institute of Capital Market, with each batch accommodating 15 students.
The main attraction of the course is the field level assignment programme where each participant will get an opportunity to work practically with an asset management company for five days.
The course fee will be Tk 12,000 in general, but the participants of the first three batches will enjoy a 50 per cent discount.
There will also be a special discount for group registration. Scholarships will be given to those who are experienced and already in this or related professions.
Upon passing the course exam, participants will receive the “Licensed Mutual Fund Selling Agent” certification from the Institute of Capital Market and it will be valid for three years.
After this period, selling agents have to renew their license every two years by taking a renewal test and paying a Tk 2000 fee.
Professor Dr Mahmuda Akhter, executive president of the Institute of Capital Market, said the Mutual Fund Rules 2001 clearly specifies that those who complete courses in relevant subjects at the BICM can work as mutual fund selling agents. For this, the BICM has taken the initiative to launch the ‘Licensed Mutual Fund Selling Agent Course.
The complete curriculum of the course has been developed through several processes and approved by the institute’s board of directors. That is how it has been made sure that the curriculum becomes practical and realistic, she noted.
Mohammad Emran Hasan, chief executive officer of Shanta Asset Management, Shahbaj Talat, managing director & CEO of Green Delta Dragon Asset Management Company, and Kazi Mashook Ul Haq, chief operating officer of IDLC Asset Management, were present, among others and answered various questions from journalists.