Salman stresses on restructuring and revitalising capital market

The prime minister's advisor on the private sector, industry and investment and lawmaker Salman F Rahman has put the stress on restructuring and revitalising of the capital market.

"Restructuring and revitalising of the capital market is important," he said at an international conference jointly organised by Dhaka Chamber of Commerce and Industry (DCCI) and GuarantCo at Hotel Radisson Blu in the capital on Sunday.

He urged the stakeholders to find means for long-term financing for the benefit of the local capital market and economic growth.

Salman also emphasised restoring the confidence of all stakeholders related to the capital market, UNB reported.

He noted that commercial banks utilise short-term deposits to finance long-term projects. "This has been a fundamental problem in our banking sector."

Citing the capital market crash, he said, "All stakeholders retreated to a comfort zone (after major stock market crashes). It has acted as a major impediment for the capital market's growth."

Salaman, also a renowned industrialist, urged the private sector to come forward with unique initiatives for the development of capital market infrastructure.