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Salman F Rahman said strong base of institutional investors needed

By The Economist

 


Salman F Rahman, private industry and investment adviser to the prime minister, stressed the need for strengthening the base of institutional investors to make the capital market stable. He said 80% of our investors are in retail but the situation is the opposite in other countries.

He was speaking as the chief guest at a meeting on "Importance of Financial Literacy in Capital Market Development" organised by the Bangladesh Merchant Bankers Association (BMBA) on the occasion of World Investor Week, a global campaign to raise awareness about the importance of investor education and protection.

Salman F Rahman mentioned that the Bangladesh Securities and Exchange Commission (BSEC) has already carried out numerous reforms for the development of the capital market.But the financial knowledge is very important for investors as well as authorised traders and institutional employees for becoming more professional. Salman F Rahman emphasised strengthening mutual funds so that new investors who have a lack of knowledge on the capital market can receive proper returns after investing in the stocks. Stressing the need for a vibrant bond market, he said, "The size of our bond market is only 2-3% of the equity market. But it is 3-4 times higher in other countries."

 The PM's adviser defended market fluctuations and said the market makes corrections after rallies which is a regular phenomenon of a capital market. "Now the market is growing in line with the growth of the economy. It is also part of the lesson. Many people make negative comments without understanding the reason behind the rise of market indices," he added. BSEC Chairman Professor Shibli Rubayat-Ul-Islam said, "The stock market is moving towards maturity. So, we have to be more professional about the market now."

 

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