BSEC, India stock regulator sign cooperation deal [ Tritiyo Matra News ]

BSEC, India stock regulator sign cooperation deal

Local November 23, 2015

Prime minister Sheikh Hasina Sunday pinned on robust Indo- Bangla relation in all socio-economic areas saying the two countries need to come forward with liberal mentality and sink narrowness to boost up ties.
Bangladesh and India should strengthen cooperation in all areas of economy and social development for brighter future of their people as a large segment of population of the two counties still live under poverty, she said.
‘Everybody should work together for economic prosperity of the people of the two countries and for mutual development of our people everybody should come forward with liberal mentality sinking all narrowness,’ she said.
The prime minister said this while addressing a function on the occasion of signing a memorandum of understanding between BSEC and Security and Exchange Board of India at her Tejgaon office in Dhaka on Sunday.
‘Our common goal is to stamp out poverty from the region and provide people with a prosperous life. Joint efforts of the both countries can yield expected result in this regard,’ Sheikh Hasina said.
Finance minister AMA Muhith, chairman of SEBI Upendra Kumar Sinha, chairman of BSEC M Khairul Hossain also spoke on the occasion.
Commerce minister Tofail Ahmed, PM’s advisers HT Imam and Moshiur Rahman, state minister for finance and planning MA Mannan, Indian high commissioner Pankaj Saran, business leaders and senior officials of the capital markets of Bangladesh and India, among others, were present.
The prime minister stressed the need for a strong, effective and accountable capital market to mobilise capital for industrialisation and infrastructure development.
She said Bangladesh needs huge investment to implement the goals of sustainable development. She hoped that Bangladesh Security and Exchange Commission would always give due attention to the matter and take farsighted steps in this regard.
Hasina expressed her firm optimism that all concerned to the capital market would carefully discharge their duties in the interest of the investors and country. The government would extend all support to BSEC in this regard, she said.
The MoU between BSEC and SEBI has been signed to exchange views and experiences aimed at strengthening cooperation between the regulatory bodies of the two countries.
The prime minister said the MoU would be milestone in the areas of development of the capital markets of the two countries and economic development hoping that the instrument would create immense opportunity towards flourishing economies of the two countries ensuring economic welfare of their people.
Hasina said as a true friend and next door neighbour, the socio-economic and cultural bonds of Bangladesh with India is gradually improving. The two countries have taken steps to resolve their existing problems peacefully through discussion, she said.
Pointing out the exchange of enclaves between the two countries the prime minister said over the last few years the two countries have progressed to a large extent in the areas of bilateral relations.
The two countries also have settled dispute on maritime boundaries, she said hoping that Bangladesh and India would be able to come to a decision on sharing water flow of common rivers very shortly.
Besides, the two countries are making their constant efforts to expand cooperation in the areas of power and communication on river, road and rail routes and infrastructure development, she said.
The prime minister said capital market is one of the major sources for long term finance for infrastructure development, industrialisation and expediting economic growth.
Listing the steps taken for reformation of the capital market she said the government is making constant efforts for a transparent, accountable, efficient, stable and strong capital market, she said adding that these reform steps helped graduation of the BSEC from Category-B to Category-A.
The prime minister also highlighted the future programmes of the BSEC for its further development saying new products for the capital markets would be introduced in addition to establishing digitised clearing and settlement company.
Besides, necessary steps would be taken for capacity building of the capital market personnel apart from introducing financial literacy programme for investors particularly youths to make them aware about capital market, she said.
Later, chairmen of BSEC and SEBI signed the MoU in presence of the prime minister.