A meeting was held between the Bangladesh Securities and Exchange Commission (BSEC) and representatives of the World Bank Group to discuss the feasibility of establishing a Mortgage Refinance Company (MRC) in Bangladesh.

The meeting was held at the BSEC headquarters on Aug 19, according to a press release issued by the commission on Thursday.

The meeting discussed the proposed framework and role of a Mortgage Refinance Company in Bangladesh's housing finance sector.

Such an institution could help expand the primary mortgage market by providing long-term refinancing to financial institutions and play a role in mobilising funds from the capital market for housing finance, the meeting was told.

The initiative has been taken by the World Bank Group following a formal request from the Financial Institutions Division (FID) of the Ministry of Finance to assess the feasibility of establishing a Mortgage Refinance Company in Bangladesh.

The proposed initiative is expected to contribute to the development and expansion of long-term housing finance in the country.

BSEC Chairman Masud Khan presided over the meeting.

BSEC Commissioner Tanjir Habib Rahman, Nahid Mahfuz, Md Nazif Al Tariq, Hossain Sadat and other senior officials along with Executive Director and Spokesperson Abdul Kalam and Executive Director Mohammad Jahangir Alam attended the meeting.

Representatives of the World Bank Group were also present.