Capital market to see good position soon: Muhith

Special Correspondent: Finance Minister AMA Muhith on Tuesday said the country's capital market will witness a good position within a few years and play a vital role to accelerate investment by arranging necessary financing for the entrepreneurs.

"There are no scopes for large ups and downs in the capital market now as the government is working to develop the market. We have taken different reforms initiatives to take the capital market in a stable position," he said while addressing a dividend handover ceremony of the Investment Corporation of Bangladesh (ICB) at Finance Ministry in the city.

The shareholders of ICB approved 30 percent cash dividend and five percent stock dividend against each share of Tk 10 for the 2016-17 fiscal year in the 41st Annual General Meeting.

The government has got cash dividend amounting to Tk 51.26 crore and around 85.43 lakh shares as bonus against its about 1.71 crore shares.

ICB Chairman Professor Dr Mojib Uddin Ahmed and Managing Director Kazi Sanaul Hoq handed over the dividend to the finance minister.

In the function, Muhith said Bangladesh Securities and Exchange Commission (BSEC) is working for the last six years to take the capital market in a good position as the market faced a big fall six years ago.

Because of taking different initiatives through BSEC, he said, the capital market will reach in a good position in future.

Among others, Financial Institutions Division Additional Secretaries Manik Chandra Dey, Quamrun Naher Ahmed and Salma Nasreen were present at the function.


risingbd/Dhaka/April 10, 2018/Hasnat/AI