Business Desk :
The Bangladesh Securities and Exchange Commission (BSEC) has planned to introduce more products in the stock market in the next two years.
BSEC Chairman Prof Shibli Rubayat-Ul-Islam disclosed this while addressing a webinar on sustainable financing on Monday, marking the World Investor Week.
To diversify more investment options for the investors, he said the new products will be introduced in the next two years.
He also said the BSEC was working to ensure sustainable financing and strengthen the secondary market further.
The BSEC has also a plan to issue new bonds to promote green financing in the country, said Prof Rubayat.
Referring to the banking sector that remained under pressure for rising non-performing loans, he said that the sector is no longer a suitable place for investments. Rather, he called upon the investors to pour money in share trading citing its prospects.
The Bangladesh Association of Publicly Listed Companies (BAPLC) organised the virtual webinar titled ‘Sustainable Finance in Bangladesh: Strategies and options for implementation’ chaired by BAPLC President Azam J Chowdhury.
Speaking at the event, Dhaka Stock Exchange (DSE) Chairman Md Eunusur Rahman said the banks cannot evade their responsibilities for rising defaulted loans.
Metropolitan Chamber of Commerce and Industry (MCCI) President Nihad Kabir said, “Our lending system follows a wrong policy. We take short-term loans for long-term investment, which causes suffering for our children or grandchildren.”
She also noted that the capital market can play a big role in long-term finance, but it needs to improve more.
BSEC Commissioner Dr Shaikh Shamsuddin Ahmed emphasized carrying out audits properly so that the audit reports can display a transparent scenario of the capital market.
Chittagong Stock Exchange Chairman Asif Ibrahim urged to cut interest rates on green financing. He also suggested introducing blue bonds to make the market more vibrant.
In his keynote paper, Chief Executive Officer of Riverstone Capital Ashraf Ahmed said that Bangladesh needs $66 billion per annum to implement the sustainable development goals.
Banks can provide only 4 per cent of the amount, he said, adding that so the capital market is the best option for achieving the target, he added.
