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Monday, June 6, 2016, Jaistha 23, 1423 BS, Shaban 29, 1437 Hijri

DSE hails budget as investment-friendly
Business Correspondent
Published :Monday, 6 June, 2016,  Time : 12:00 AM  View Count : 18
Dhaka Stock Exchange (DSE) authorities hailed the proposed national budget for the financial year 2016-17 and labeled it an investment-friendly budget that has offered incentives for the capital market.
Hailing the budget proposals for the stock market, DSE Chairman Justice Siddiqur Rahman Miah also greeted Finance Minister AMA Muhith for presenting a budget, which would bring many benefits to the capital market and to the investors as well.
The DSE chairman hailed the budget while addressing a post budget press conference at its premises in the city on Sunday. In the budget, Muhith proposed tax exemption for margin loan and interest up to 10 lakh induced remission benefit for small investors in the capital markets, which would ensure more protection for small investor's interest, he said.
The chairman mentioned some key areas of the finance minister's proposals while unveiling the national budget at the parliament on Thursday last.
Referring to the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015, Muhith said under these rules, fixed price method for IPOs (initial public offerings) at face value and book building method for IPOs with premium prices have been made mandatory.
Under the system, around Taka 14,000 crore would be sourced annually from the capital market, which would play a vital role in the country's economy, he added.
A total of Taka 637 crore was given to the small share investors from the small investors' assistance fund, the minister mentioned.
The finance minister said various reform activities were carried out to maintain stock market discipline, safeguard investors' interests, ensure compliance with the Securities Act and improve institutional capacity.
He also noted that a panel of auditors for auditing listed companies has also been published to ensure discipline in audit activities.

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