Muhith wants stable capital market

Finance minister AMA Muhith on Wednesday said that he expected a stable capital market with much vibrancy which would contribute towards the development of economy.
Muhith made the statement at the launching ceremony of Dhaka Stock Exchange’s mobile-based trading system ‘DSE-Mobile’ at the Bangabandhu International Conference Centre in the capital.
He said that the rules and regulations of Bangladesh capital market were comparable with those of the developed markets.
‘Despite the fact, I sense the market lacks vibrancy,’ he said.
‘I hope launching of the mobile-based trading application will make the stock market vibrant by making share transactions easier for the investors,’ the finance minister said.
Sharing his unpleasant experience of stock market investment, Muhith said, ‘I lost Tk 33,000 during 1969-70 as the then government forfeited by stocks for being its enemy.’
Mentioning the launch of mobile-based trading as a landmark event for the capital market, Bangladesh Securities and Exchange Commission chairman M Khairul Hossain said that the introduction of such trading system would allow people in the remote areas to get connected with the capital market directly.
Connection of such investors’ classes with the capital market will make beneficiary the capital market as well as country’s economy, Khairul said.
The BSEC chairman also said that some time market and investors suffered due to confusing comments by some analysts.
‘Introducing financial literacy will help the market to get rid of such type of comments,’ he said.
DSE managing director Swapan Kumar Bala in his welcome address said the introduction of mobile-based share transaction would reduce the time and place-related barriers and enhance efficiency of the market as well.
DSE director Waliul Islam presided over the lunching ceremony where FlexTrade, the software vendor for the DSE’s order management system, online division chief executive officer Jean-Michel Blanco also spoke, among other.
On the debut day of the DSE-Mobile, around 250 individuals logged in the DSE’s trading system through the application and placed 155 transaction orders on the bourse’s trading platform, a DSE official told New Age.
DSE-Mobile application allows directly link with the DSE trading system and provides real-time data access to investors from anywhere.
The application will be free of cost for investors for a period of time but later additional payment will be required for the service.
The bourse has ensured ‘A’ level security measures for investors to keep their information safe, DSE officials said.
Android 4.4-version phone with four inches display and 320 pixel regulation would be the minimum requirement for using the application.

News Courtesy:www.newagebd.net