Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has planned to create a fund to compensate small investors hit hard by the stock market crash.
The issue was discussed in the meeting of the board of directors of Bangladesh Bank (BB) on Monday with the Governor Atiur Rahman in the chair, according to officials.
“We’re now examining the issue,” a BB senior official said, adding that the size of the fund would be around BDT 10 billion.
The fund would be created with the government’s profits from the central bank in the current fiscal year (FY) 2012-13, he said without elaborating.
Earlier in November 2011, the government announced a stimulus package for retail investors to help restore stability in the market.
But the private merchant banks and brokerage houses are yet to implement the scheme due mainly to a shortage of fund, market operators said.
“We need a low-cost fund for implementation of the package,” a senior market operator said, adding that they earlier urged the government to create the fund.
BBN/SSR/AD-29May13-10:26 am (BST)
