Bangladesh Institute of Capital Market (BICM) has reduced tuition fees 50 percent for master's programs to encourage financial literacy in youths for sustainable stock market growth in the country.

The country's first and only post-graduate program on Masters of Applied Finance and Capital Markets (MAFCM), conducted by BICM announced this in a press conference, held at its office on Topkhana Road in the capital on Tuesday.

BICM is a state-funded institution affiliated with Dhaka University.

Responding to a query, executive president of BICM Professor Dr Mahmuda Akter said that this initiative has been taken considering the present economic situation and encouraging financial literacy.

“BICM hopes to increase the attention among applicants for this program with a fee waiver. They also hope the youth will be interested in building a career in capital market-related institutions,” she said.

Mahmuda said, "In order to make Bangladesh a developed country, rapid industrialization and large-scale sustainable infrastructure development are needed."

There is no easier way to provide this financing than a dynamic and expanding capital market, this course will help to increase financial literacy, she believes.

The fee per credit of this 51-credit Master's program is Tk4000, on which the 50 percent discount now reduces it to Tk2000. The total program fee is reduced to Tk1.40 lakh from Tk2.5 lakh.