Six
associations related with capital market and money market on Monday decided to
form Bangladesh Financial Market Forum with a view to work for their common
interest on financial issues.
The
decision came at a meeting on the day organised by the Dhaka Stock Exchange
Brokers Association of Bangladesh held at the DSE headquarters.
The
six associations includes: DSE Brokers Association of Bangladesh, Bangladesh
Insurance Association, Association of Bankers Bangladesh, Association of Asset
Management Companies, Bangladesh Merchant Bankers Association and Bangladesh
Leasing and Finance Companies Association.
DSE
Brokers Association convener Ahsanul Islam presided over the meeting where
Association of Bankers Bangladesh chairman Ali Reza Iftekhar, Bangladesh
Insurance Association president Sheikh Kabir Hossian, Association of Asset
Management Companies president Md Fayekuzzaman, Bangladesh Merchant Bankers
Association vice-president Md Moniruzzaman, Bangladesh Leasing and Finance
Companies Association member Akter Hossain Sannamat, DSE Brokers Association
members Mizanur Rahman Khan, Minhaz Mannan Emon, Khugesta Nur-E-Naharin,
Mostaque Ahmed Sadeque, M Moazzam Hossain and Md Zahirul Islam were present.
Ahsanul
after the meeting told reporters that the representatives of the six
associations have agreed to work jointly for the development of capital and
money markets.
‘We
will advocate to the government and regulatory bodies regarding issues and
problems that should be addressed and resolved,’ he said.
The
number of members of the forum may increase in the coming days if other
associations become interested to join the forum.
Bangladesh
Insurance Association presided Sheikh Kabir Hossian said that the forum will
initially work for the development and restoration of investors’ confidence
over the capital market, but gradually it will work for overall economy.
ICB
managing director Md Fayekuzzaman said that the overall economic development is
related with both capital market and money market, that is why the forum will
work for both the markets.
Speaking
about the development, Fayekuzzaman said that the high cost of fund has made it
difficult for the merchant banks and brokerage houses to invest in the market.
Low
interest loans for the brokerage houses and merchant banks can solve the
problem and enhance their capability to take part in market development,
Fayekuzzaman, also president of Association of Asset Management Companies,
said. (Source: New Age, March 31, 2015)