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Capital market made sustained growth at 9.4pc amid pandemic

Published : Tuesday, 30 November, 2021 at 12:00 AM  Count : 194

Bangladesh capital market made a sustained return of 9.4 percent  to investors amid the pandemic situation, said a report.
The return is higher compared with Pakistan (8.5percent), Vietnam (7.2 percent), China (6.6percent), according to the report revealed at Bangladesh Investment Summit on Monday.
Prime Minister's Economic Affairs advisor Dr Mashiur Rahman was the chief guest at a session titled ' Capital Market: The rising tiger' at Radisson Blu in Dhaka on Monday.
Bangladesh Security and Exchange Commission (BSEC) Commissioner Dr Shaikh Shamsuddin Ahmed presented the keynote paper while Chittagong Stock Exchange (CSE) President Asif Ibrahim conducted the session.
Addressing the function, Dr Mashiur Rahman mentioned three reasons behind the rapid growth of foreign direct investment in the country in the last ten years.
"First is demographic dividend, then the taxation system and finally the population which is always ready to adopt new services," he said.
Citing an IFC forecast, Rahman said Bangladesh will keep higher growth rates for the next five years comparing with other developing economies like Vietnam.
BSEC commissioner Shamsuddin Ahmed said Bangladesh capital market is collaborating financial markets in the East and West of the world to maintain international standard in transaction.
"To attract the investment from non-resident Bangladeshis, he said BSEC continues to adopt automation at all levels.
Bangladesh ranks 24th in Global Index of Security for Investors in Capital Market he said pointing out that the country lies ahead of Pakistan (31st), India (46th) and Sri Lanka (48th)
Turnover at Dhaka Stock Exchange hit a decade-high in June 2021 scouring 30 percent growth worth of 319 million US dollar transaction.
Only 25 percent of the total investments come through the banking system and the capital market together, which should not be less than 50 percent globally, he said.
IFC principal investment officer Cristina Ongoma said the organisation helps developing economies like Bangladesh for introducing green and blue bonds for sustainable finance.
Dhaka Stock Exchange managing director Tarique Amin Bhuiyan said the bourse has introduced special platform for SMEs to facilitate maximum Tk 3 million investment in the capital market. Green Delta Capital managing director Rafiqul Islam said the introduction of Shushuk bond created a new opportunities for conventional and islamic investors.
Dawn Capital founder Maurits Pot, KPMG Bangladesh senior partner Adeeb H Khan, and Shanta Asset Management vice chairman Md Arif Khan were on the list of panellists who took part in discussion.

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