MM Rahmatullah: Professor Shibli Rubaiyat-ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC) said, we will raise the floor price if we see a strong position very soon. We will remove the floor price whenever we see that investors` capital is safe. We are also looking forward to when we can release this floor price.

He said these things while addressing the chief guest at the seminar entitled `Economic Challenges for Bangladesh Capital Market: Possible Remedies` organized by the Economic Reporters Forum (ERF) in Dhaka on Tuesday.

BSEC chairman said the age of our commission is about three years and two months. On the day we took over, all the people of Bangladesh were at home. There was no economic activity at that time. But we did not realize that the war in Ukraine would start suddenly. This is our unintended danger.

Shibli Rubaiyat-ul-Islam said, there is a lot of pressure in our capital market, where the market index fluctuates due to lip movements. On the other hand, we could see supply volatility starting to decrease along with reserves, along with the capital market index. And so the floor price is imposed for the safety of the investors.

He said, due to the actions of the central bank and the government, the flow of our current account has returned to normal. As a result, the hassle of opening LC is no longer there. Reserves are expected to increase soon, and the dollar will depreciate. Slowly the situation will be normal again. If the price of goods decreases, the purchasing power of people will increase. The liquidity crisis had the most negative pressure on our capital market.

He also said that bonds, treasury bills are safe products for investors. But why investors are not investing in them? They have less human inclination and less investment. We have already given 60 to 70 thousand crores to the government fund through bond issues. The bond market is now providing good funding to the economy. Institutions like Garanco have guaranteed many of our bonds.

ERF President Mohammad Rafayet Ullah Mridha presided over the event and Capital Market Stabilization Fund (CMSF) Chairman Md. Najibur Rahman, Dhaka Stock Exchange (DSE) Chairman Hafiz Mohammad Hasan Babu, Chittagong Stock Exchange (CSE) Chairman Asif Ibrahim, NRB Commercial were present as guests of honor. Bank Chairman SS Pervez Tamal, Association of Asset Management Companies and Mutual Funds (AAMCMF) Chairman Hasan Imam. Apart from this, ERF member Mohammad Mofazzal Hossain presented the keynote at the event.