Commerce Minister Tipu Munshi today said that both financial literacy and good business organizations are must to boost investment in the capital market.

The stock market is a crucial sector for the country’s economy, so knowledgeable investors can drive the capital market to be sustainable, he said.

The minister said this while speaking as the chief guest at the inaugural session of the Arthosuchak Capital Market Expo-2023, held at Institute of Diploma Engineers’ Bangladesh (IDEB) in Dhaka.

Tipu Munshi said that more than 50 percent of money is taken from the capital market in developed economies.

“We don’t have that situation in our country. Loans are taken from banks, which is creating several problems in the banking sector. If even 50 percent of the money came from the capital market, business and trade in our country are bound to improve,” the minister said.

A group with vest interest is cleverly defining the country’s political and economic development – spreading rumours and lies and trying to mislead people, the minister said.

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“The country has progressed so much, and they say, it is not right. But they can no longer deny the visible improvement. Those who are doing this, they do not want development of this country,” Munshi said.

Professor Shibli Rubayat-Ul-Islam, chairman of BSEC, attend the function as special guest, while Ziaur Rahman, editor of Arthya Suchak presided over the program.

Chairman of Dhaka Stock Exchange (DSE) Md Eunusur Rahman, Chittagong Stock Exchange (CSE) Chairman Asif Ibrahim, Bangladesh Publicly Listed Companies Association (BAPLC) President Anis Ud Dowla, Bangladesh Merchant Bankers Association (BMBA) President Sayedur Rahman and Dhaka Brokers Association (DBA) President Richard De Rosario, among other, spoke in the function.

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