Capital market unstable despite political stability: Hasan Mahmud
Due to political stability, the country's economy has become multi-dimensional, he said
There is no stability in the capital market even though there is stability in the country's political arena, Information and Broadcasting Minister Hasan Mahmud has said.
"Due to political stability, the country's economy has become multi-dimensional," he said while addressing a meeting as chief guest on the capital market at the Dhaka University's Faculty of Business Studies on Thursday.
The meeting was organised by the Bangladesh Merchant Bankers Association in observance of the World Investors' Week.
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Mentioning the role of the money market and the capital market to keep the economy moving, the minister said, "There has been a lot of growth in the money market. There has been growth in the capital market as well. However, there is still some vulnerability."
Calling for more work to bring stability to the capital market, he said, "If the money market and the capital market work together, it will help to move the country towards development."
"If we can drive away fraudsters from the money market, it will be possible to enrich the country. The money market and the capital market also have some middlemen who are increasing instability, which is affecting growth."
"If they can be thrown out, the country's economy can be further advanced," added Hasan.
Prof Shibli Rubayet-Ul Islam, chairman of the Bangladesh Securities and Exchange Commission, said, "The next five years will be golden years of economic development for the country's economy. Covid-19 and the [Ukraine-Russia] war have slowed it down. Now there is a little bit of tension because of the elections. Still, I see a bright economic future."
Mentioning that the country has undergone a magical change in the last 10-15 years, he stated, "If there is political stability in the country, it is only a matter of time for Bangladesh to become a developed country."
Riyad Motin, secretary general of the Bangladesh Merchant Bankers Association, presented the main article in the meeting, with the association's President Sayadur Rahman in the chair.
Hafiz Muhammad Hasan Babu, chairman of the Dhaka Stock Exchange, and Arif Khan, vice chairman of Shanta Asset Management were the discussants.
