Dhaka, Bangladesh (BBN)– The government on Monday formed a six- member Advisory Council with Finance Minister Abul Maal Abdul Muhith as its chief to monitor the country’s stock market activities regularly and recommend the effective ways of stabilizing the market.
The other members of the council are former Bangladesh Bank (BB) governor Dr Mohammed Farashuddin, former chairman of Securities and Exchange Commission (SEC) Faruk Ahmed Siddiqui, Supreme Court lawyer Anisul Haq, an army officer in the rank of major-general and a joint secretary of Banking and Finance Divisions of the Finance Ministry.
The SEC Chairman M Khairul Hossain announced the council at a press conference held at the SEC office in the capital Dhaka on Monday.
He said the advisory council would constantly monitor the capital market and advise the authorities concerned necessary steps to ensure transparency in the market and protect investors’ interests.
Meanwhile, the National Board of Revenue (NBR) issued a circular offering tax rebates on share investments to help revitalize the stock market and restore investors’ confidence.
The market capitalization of all the listed issues with the country’s bourses witnessed a massive decline in recent months, leading to a sharp and continuous fall in the indices.
DGEN, the benchmark index of the Dhaka Stock Exchange (DSE), came down to 5423.92 point Monday from the highest of 8918.51 point on December 05 last, the DSE data showed.
BBN/SSR/AD-18Oct11-1:47 am (BST)