Bona-fide entrepreneurs need to be encouraged for the dynamic capital market : Land Minister
Land Minister Saifuzzaman Chowdhury said that bona-fide entrepreneurs should be invited to the capital market by encouraging them to set up ‘Greenfield Projects’ (Projects/Industry built from scratch) to bring dynamism to the capital market. This will increase the confidence of investors in the capital market and create a win-win situation overall.
Yesterday, 9 February 2021, Tuesday, Land Minister Saifuzzaman Chowdhury came with the remark while addressing as the chief guest of the inauguration ceremony of a four-day roadshow with the theme “The Rise of Bengal Tiger: Potentials of Bangladesh Capital Markets” organized by the Bangladesh Securities and Exchange Commission (BSEC) at a hotel in Dubai, United Arab Emirates to showcase investment opportunities in the capital market of Bangladesh to the expatriate Bangladeshi and foreign investors in the development of the capital market of Bangladesh. Bangladesh Consul General in Dubai Iqbal Hussain Khan was present at the time.
Former president of the Chattogram Chamber of Commerce and Industry and the current land minister further said on the first day’s summit that proper research and disciplined investment approach are very important for the capital market. He expressed the view that providing consultancy services in this regard would create an investment environment for the expatriates. Saifuzzaman Chowdhury also shared his personal experience on the risky nature of the capital market. He appreciated the present leadership of BSEC and thanked the present Commission for their various initiatives.
The special guest at the event State Minister for Youth and Sports Md Zahid Ahsan Russel thanked the nonresident Bangladeshis for generating huge remittance which helped Bangladesh during the pandemic.
Yesterday, on the first day of the roadshow an investment summit titled ‘Bangladesh Capital Markets’ was held in two separate phases to attract expatriate Bangladeshi and foreign investors. Investment conferences titled ‘Sukuk (Islamic bond): The New Investment Opportunity in Bangladesh’ and ‘Scope of Private Equity & Venture Capital Investment in Bangladesh’ for the institutional investors are scheduled to be held respectively today second and tomorrow third day of the Roadshow. Besides, bilateral and multilateral meetings with the interested investors are scheduled to be held on next Friday, February 12, 2021, the last day of the roadshow.
Online BO (Beneficiary Owners) Account Opening Portal was launched at the first day summit of the roadshow. This will enable expatriate Bangladeshi citizens to open their accounts online. The roadshow is expected to encourage expatriate Bangladeshi and foreign investors to invest in Bangladesh’s capital market.
The Chairman of BSEC Professor Shibli Rubayat-Ul-Islam highlighted the important role of the capital market for raising long term funds through Bond and Sukuk to address the long-prevailing maturity mismatch problem in the banking sector of Bangladesh in his speech while presiding over the summit.
Managing Director and CEO of UCB Stock Brokerage Ltd. Mohammed Rahmat Pasha, Dhaka Stock Exchange Director Prof Dr. Md Masudur Rahman, Al Haramain Group Chairman Mohammed Mahtabur Rahman, UCBL Executive Committee Chairman Anisuzzaman Chowdhury also spoke at the investment summit. Chief Executive Officer and Managing Director of IDLC Finance Limited Arif Khan presented the keynote address at the summit. BSEC Executive Director Mahbubul Alam, Bangladesh Merchant Bankers Association (BMBA) President Saidur Rahman, Dhaka Stock Exchange Chief Operating Officer M Shaifur Rahman Mazumdar, LankaBangla Securities Ltd. Director Khandoker Saffat Reza and Managing Director of Midway Securities Ltd. Md. Ashequr Rahman attended as panelists in the question-and-answer session. A number of senior dignitaries from various communities of Dubai have also been present in the roadshow among others.