Future of the share market is bright as it has gained trust of investors due to the time-befitting steps of the government.
Salman F Rahman, private industry and investment adviser to Prime Minister Sheikh Hasina, came up with the statement while addressing as the chief guest at an online seminar titled "Post-budget discussion and ways to develop share market” on Saturday.
Bangladesh Merchant Bankers Association (BMBA) and Capital Market Journalist Forum (CMJF) organised the programme.
Transactions in the market also rose a lot, F Rahman said adding that, the basic problem with our capital market was it did not have any bond market, which is essential for a strong economy.
As it has started, many banks and companies will be able to collect money through bonds, he added.
Bangladesh Securities and Exchange Commission (BSEC) has taken several initiatives to develop the market, which were needed, and the way we are advancing will bring a better future for the capital market, he mentioned.
He hoped that investments in the bond market would increase and the government would be able to collect money from this market if it was well-established.
"Everyone will have more responsibilities once the market is established. Their management capabilities will have to be increased," he said.
At the time, the BSEC chairman Prof Shibli Rubayat Ul Islam said, “We have already demanded that undisclosed funds be allowed to be invested in the capital market. So that they (those who have undisclosed money) can bring it (undisclosed money) in legal form (in a legal way), to keep that opportunity.”
We have taken up some programs with the bonds, he said adding that, we hope that the authorities will help us move forward with the fiscal policy that we have with Bond and Sukuk, an Islamic financial certificate.
He mentioned the government has reduced the tax on listed companies by two and a half percent and we can expect further reduction in the future.
Overall, this year's budget is ‘Made in Bangladesh’, he added.
The BSEC Commissioner Dr Sheikh Shamsuddin Ahmed, and Md Eunusur Rahman, chairman of Dhaka Stock Exchange (DSE), also attended the seminar as special guests.