Dhaka, Bangladesh (BBN) - The Bangladesh Association of Banks (BAB) is going to establish a capital market stabilization fund worth around BDT 10 billion to help restore confidence of the investors in the share market.
The BAB, representing the sponsor-directors of the country's private commercial banks (PCBs), its informal meeting, held at its city office on Thursday, decided in principle to create such a fund, a banker told BBN.
He also said the BAB is expected to take a final decision in this connection at a meeting, scheduled to be held at its city office on Sunday.
“The BAB has invited chairmen of all PCBs to attend the Sunday’s meeting for taking decision to form such fund,” he said, adding that the non-banking financial institutions (NBFIs) and insurance company will be invited to take part for formation such fund.
BBN/SSR/AD-21Oct11-10:11 am (BST)