BSEC
'Product quality, competitive price driving Walton's export success'
Product quality and competitive price are driving Walton's export success, Bangladesh Securities and Exchange Commission (BSEC) Chairman Shibli Rubayat-Ul-Islam said.
Walton, one of the top electronics products manufacturers of Bangladesh, has a billion-dollar turnover, he added.
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The BSEC chairman was addressing the second session of "Investment Flash Mob: Networking Dinner" in the United Arab Emirates (UAE), Abu Dhabi Thursday.
BSEC arranged the flash mob in Dubai and Abu Dhabi to encourage non-resident Bangladeshis and foreign investors to invest in the capital market and other potential sectors of Bangladesh.
Walton sponsored programmes.
Businesses urge BSEC to enlist goof companies in stock market
Business leaders have urged Bangladesh Security and Exchange Commission (BSEC) to enlist well-performing companies in the capital market.
They also demanded realization of tax with proper execution of tax difference between listed and non-listed companies to encourage companies listing the share markets.
The demand came during a courtesy call on the BSEC Chairman Professor Shibli Rubayat-Ul-Islam at its headquarter in Agargaon by a group of business people led by president of Dhaka Chamber of Commerce & Industry (DCCI) Rizwan Rahman on Sunday.
Also read: Meeting between FID, BB, BSEC fails to settle issues on share market investment
Discussion with the BSEC Chairman the DCCI President revealed that Bangladesh will need to invest (USD) $ 608 billion from 2016 -2040 in the infrastructure sector.
The current trend indicates that Bangladesh will be able to meet USD 417 billion investment in the infrastructure sector leaving a financing gap of $192 billion from 2016 to 2040, said a report of the ‘Global Infrastructure Hub’.
“The capital market can play a key role to reduce the investment gap in Bangladesh as the market has a huge potential to recover CMSMEs financing gap through encouraging businesses to source long-term capital reducing dependence on banks and NBFIs,” said Rizwan.
Also read: BSEC finds involvement of 9 companies in share price manipulation
The DSE SME platform needs to be effectively operationalized as well as listing rules for SME Platform needs to be relaxed, he said.
The businesses also urged to create a vibrant secondary bond market, priority needs to be given implementing enabling policy to develop market infrastructure, simplification of the bond issuance process, tax incentives for both issuer and investors, and credible credit rating by the national as well as international credit rating agencies.
Tk 850-crore revolving fund for capital market in the offing
The government has planned to create a Tk 850-crore revolving fund for five years to invest it in the capital market and utilize it during any crisis to keep the market stable.
Sources at the finance ministry said the Bangladesh Security and Exchange Commission (BSEC) sent a proposal to the financial institution division this week.
“The proposal will be placed before the higher authorities for the approval,” said an official adding that the size of the revolving fund will be about Tk 850 crore and the term will be five years.
Read: US investors: Bangladesh showcases its capital market potential
“If there’s any crisis in the capital market, money can be used from this fund. Investment Corporation of Bangladesh (ICB) will take care of the fund,” the official said, wishing anonymity.
In 2010, the capital market suffered a setback and went through a depression as shares of most of the listed companies suffered record losses in their prices and the capital market took a decade to bounce back.
BSEC finds involvement of 9 companies in share price manipulation
The probe committee, formed by the Bangladesh Security and Exchange Commission, has primarily found the involvement of nine companies in the recent share market price manipulation.
“Further investigation is underway. The matter is thoroughly being scrutinized, and the people concerned will be called to be present before the investigation committee, if necessary,” said BSEC spokesperson Mohammad Rezaul Karim on Saturday.
Also read: Insider trading: BSEC probes Dominage Steel for 'unusual' stock movement
According to the BSEC, the companies are: Fu-Wang Ceramics Industry Ltd, Beacon Pharmaceuticals Limited and Anwar Galvanizing Limited in the engineering sector; Paper Processing & Packaging Ltd, National Feed Mill Ltd, Dhaka Dying, GBB Power Limited in the energy sector, and Emerald Oil Industries Ltd and Bangladesh National Insurance.
Bangladesh’s roadshow in USA to woo investors ends
A weeklong roadshow aimed at promoting investment into Bangladesh concluded in the USA, with Startup Bangladesh Limited unveiling greater opportunities in its Startups and Technology sector.
On the final day, local and international delegates joined the “US- Bangladesh Tech Investment Summit” to discuss investment opportunities in Startups and Technology Sector of Bangladesh, the untapped investment goldmine of Asia.
Bangladesh Securities and Exchange Commission (BSEC) organized the roadshow titled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ in the cities of New York, Washington D.C, Los Angeles and San Francisco in California.
Started on July 26, the roadshow was held to promote Bangladesh’s economy, investment opportunities and capital markets.
The final programme was held on Tuesday in the Hyatt Regency, Santa Clara, California.
Salman F Rahman, MP, Private Industry & Investment Adviser to Prime Minister of Bangladesh; Lisa M. Gillmor; Mayor, City of Santa Clara, California; and Professor Shibli Rubayat-Ul-Islam; Chairman of BSEC; were present.
Read: Bangladesh seeks US investment for regional power distribution
Abdur Rouf Talukdar, Senior Secretary of Finance Division; Tapan Kanti Ghosh Secretary of Ministry of Commerce; Fatima Yasmin Secretary of Economic Relations Division; Md Sirazul Islam, Executive Chairman of BIDA and Executive Chairman of BEPZA; and Tina Jabeen, Managing Director and CEO of Startup Bangladesh Limited; also attended it.
A panel discussion was also held with prominent guests of Silicon Valley on potentials of trade & investment in Bangladesh.
It was moderated by Shameem Ahsan, President, VCPEAB.
Anis Uzzaman, Founder & CEO of Pegasus Tech Ventures; and Tina Jabeen, Managing Director and CEO of Startup Bangladesh Limited; delivered the keynote speeches.
The programme kicked off by Prof. Rubayat-Ul-Islam, Chairman of BSEC.
Tina Jabeen, in her keynote speech, upheld the Bangladesh Story - the story of consistent growth spearheaded by the current government led by the visionary Prime Minister Sheikh Hasina and the impetus behind the growth journey; Bangladesh’s perspective plan 2021-2041, said a media release on Wednesday.
Read: Bangladesh will continue to attract foreign investments, defying downturn: US
She exemplified the successful stories of homegrown startups, how they are already attracting international investors validating that Bangladesh is ready to be the next breeding ground of unicorn in Asia.
Tina Jabeen at the end of her Keynote speech played a video message from Reid Hoffman, the founder of LinkedIn where he said that “Great innovative leaders understand that technology is the future and this is how startups are created in silicon valley with global relevance and global scale. It's a rare thing but when it happens that's the sign and innovative leadership I applaud for.”
Salman F Rahman urged Non-Resident Bangladeshis (NRBs) and expatriates to avail of the opportunities presented by the nation.
US investors: Bangladesh showcases its capital market potential
Bangladesh showcased the potential of its capital market and trade and investment opportunities in the country to the US investors.
Bangladesh Securities and Exchange Commission (BSEC) organized a ‘Stakeholders’ Meeting’ in the US capital, Washington, DC, recently to showcase opportunities to the US investors.
The meeting was part of BSEC’s ongoing Roadshow titled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ being held in Washington DC, New York, Los Angeles, and San Francisco, said the US Embassy in Dhaka on Friday.
Also read: Bangladesh seeks US partnership in vaccine production
A high-level delegation, led by PM’s Adviser for Private Industry and Investment to the Salman Fazlur Rahman, participated in discussion and exchanged views with the stakeholders in a lively interactive session.
Finance Division Senior Secretary Abdur Rouf Talukder, Commerce Secretary Tapan Kanti Ghosh, ERD Secretary Fatima Yasmin, BIDA Executive Chairman Sirajul Islam, BSEC Chairman Prof Shibli Rubayat-Ul-Islam were, among others, in the discussion panel.
Adviser Rahman highlighted Bangladesh economy’s strong resilience even during the Covid-19 pandemic while the BSEC Chairman presented the recent developments in Bangladesh’s capital market and economy.
The discussants also showcased the robust economic growth and investment potentials in Bangladesh.
Also read: Bangladesh will continue to attract foreign investments, defying downturn: US
They also welcomed suggestions and recommendations from the participating stakeholders regarding promoting trade and investment in Bangladesh and its facilitation to foreign investors.
The stakeholders’ meeting was attended by the prominent members of non-resident Bangladeshis (NRBs), foreign investors, representatives of development partners, and the US federal entities. Bangladesh Embassy in Washington DC, provided necessary assistance to BSEC and the organizers for successful organization of the meeting.
Capital market to follow banking sector's ‘lead’ in operating during lockdown
The capital market will continue its operation in the interest of investors in any situation during the Covid-19 pandemic if the banking activities continue.
The Bangladesh Securities and Exchange Commission (BSEC) said this against the backdrop of the government’s preparation for imposing full lockdown from April 14 next.
A notice posted on the official website of the BSEC said: "[The] capital market will continue operation at [in] the interest of investors in any situation during the pandemic of Covid-19 if the banking activities continue."
Also read: Stock market reforms to fail if rumours rule the roost: Minister
It said all the transactions in the capital market will continue in the interest of investors and urged the investors not to pay heed to any rumor.
According to sources at the BSEC, if the banks remain open during the lockdown, the capital market will also remain open. This instruction has been given to two stock exchanges -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
Also read: BSEC to help boost startup, venture capital ecosystem: Chairman
They said the commission has instructed the DSE to keep the capital market open if banks are open. The capital market will operate utilising smaller shifts and work-from-home facilities.
Earlier, from March 26 to May 31 last year, transactions in the capital market were closed due to the outbreak of Coronavirus pandemic.
Also read: Insider trading: BSEC probes Dominage Steel for 'unusual' stock movement
DSE, CSE to follow banking sector's lead in operating during lockdown
The capital markets will follow the banking sector's lead in operation during the pandemic of Covid-19.
This was informed by the Bangladesh Securities and Exchange Commission (BSEC) against the backdrop of different rumors since news broke of the lockdown to be imposed by the government from Monday next.
A notice posted on the official website of the BSEC said: "Capital market will continue operation at the interest of investors in any situation during the pandemic of Covid-19 if the banking activities continue." It said all transactions in the capital market will continue in the interest of investors.
Also read: Govt to enforce 7-day lockdown from Monday: Quader
It urged the investors to pay no heed to any sort of rumors.
According to BSEC sources, if the bank is open in lockdown, the capital market will also be open. This instruction has been given to two stock exchanges (Dhaka and Chittagong).
Also read: Covid-19: Bangladesh sees 5,638 cases, 58 more deaths
They said, the commission has instructed DSE to keep the capital market open if banks are open. The capital market will operate utilising smaller shifts and work-from-home facilities.
Earlier, from March 26 to May 31 last year, transactions in the capital market were closed due to the outbreak of coronavirus.
Insider trading: BSEC probes Dominage Steel for 'unusual' stock movement
Markets regulator Bangladesh Securities and Exchange Commission (BSEC) is going all out to curb insider trading in the country's bourses.
Robi set to make capital market debut Dec 24
Robi Axiata Limited, the country’s leading digital service provider, is going to hit the trading floors in Dhaka and Chittagong stock exchanges on December 24.