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CHITTAGONG, Nov 30: Chittagong Stock Exchange (CSE) has planned a series of programmes in two phases to celebrate its upcoming 10th founding anniversary on December 2.
The first phase includes Capital Market Fair, publication of newspaper supplement, articles, award for top brokers, cultural shows etc.
The second phase will include TV dialogue, seminars, essay competition, tour programme etc.
It was disclosed at a press conference held here Wednesday on the eve of its upcoming 10th founding anniversary.
CSE President Haibulllah Khan while speaking at the press conference said the introduction of automated trading on Wide Area Network is the most notable one of CSE's achievements. From day one, when it was launched in 1998, investors of Chittagong, Dhaka and Sylhet could trade online real time. Gradually we expanded the network to Rajshahi, Barisal and Coxs Bazar. The event marks an important milestone in the history of Bangladesh capital market.
While speaking on importance of Central Depository System, he said, CDBL is the most important milestone in the capital market of Bangladesh. CSE took the initiative and the founder president of CSE Amir Khosru Mahmud Chowdhury raised a bill in the parliament in 1998 paving the way to finally launch CDS in Jan, 2004.
He further said, since the beginning of my tenure as President, I have been emphasising that the study of Capital Market should be included in the secondary school curriculum and onward.
While dwelling on present market situation, he said the market depth is very shallow having only a few equity shares. Market capitalisation is only 5 per cent of the GDP here while it is 30 per cent in Pakistan, 50 per cent in India and 80 per cent in Thailand. We need to have more mutual funds and bonds to bring depth in the market.
In addition, the government should offload their holdings in the multinational companies and divest the SOEs such as Biman Bangladesh Airlines. The government can securitise large projects like Jamuna Bridge or others very successfully by mobilising the domestic fund. There is a great demand of good shares in the primary market, which is evident by the huge over-subscription in the recent IPOs lately.
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