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Dhaka     Wednesday   08 December 2021

BSEC seeks monthly info of bank’s investment of Tk 200 crore

News Desk || risingbd.com

Published: 21:20, 27 October 2021  
BSEC seeks monthly info of bank’s investment of Tk 200 crore

The Bangladesh Securities and Exchange Commission (BSEC) has sought formation of the ‘special fund’ of Tk 200 crore of each scheduled bank to alleviate the liquidity crisis in the stock market. 

At the same time, banks have been asked to provide information on investments in Special Purpose Vehicles (SPVs) and Alternative Investment Funds or similar funds. 

The BSEC has requested the banks to send the monthly reports of investment information in forms.

Recently, a letter has been issued to the Managing Directors (MDs) or Chief Executive Officers (CEOs) of all scheduled banks, according to sources. 

The matter has also been brought to the notice of the Governor of Bangladesh Bank (BB) and Managing Directors (MDs) of Dhaka and Chattogram Stock Exchanges (DSE, CSE) and Chairmen of Association of Bankers Bangladesh (ABB) and Bangladesh Association of Banks (BAB).

Currently, there are 61 scheduled banks across the country. Of these, 31 banks are listed on the stock exchange while the others are unlisted. All banks have been asked to provide information on investment in the stock market.

According to the BSEC letter, all the scheduled banks have been instructed to set up a ‘special fund’ of Tk 200 crore as per a circular issued earlier by Bangladesh Bank (BB) to alleviate the liquidity crisis in the stock market. The instructions also mention investing another Tk 200 crore in Special Purpose Vehicle (SPV), Alternative Investment Fund, or similar fund. Money invested in the stock market under the special fund will not be treated as a bank exposure limit.

Dhaka/NT/AKA