Dhaka, Bangladesh (BBN) – The central bank of Bangladesh has provided more fund to the state-run Investment Corporation of Bangladesh (ICB) to bring back stability in the share market, officials said on Tuesday.
Bangladesh Bank (BB) has disbursed a total of BDT 4.0 billion to the ICB through IFIC bank in the last two consecutive days to avert any massive slide.
“The central bank has provided the fund to the ICB as short term loan,” a BB senior official said, adding that that the BB would inject more fund in line with the market requirement.
On Sunday, the BB sanctioned a fresh loan to the ICB amounting to BDT 2.0 billion, which was disbursed on Monday.
The BB further injected fresh fund worth BDT 2.0 billion to the ICB on Tuesday as trading in both bourses was halted by the Securities and Exchange Commission (SEC) for the second time in eight days.
With 80 minutes remaining in Tuesday’s trading session, the benchmark index of the Dhaka Stock Exchange, generally known as DGEN, was down by 3.29 per cent or 243 points when trading was suspended.
Earlier on Monday last week, the SEC suspended trading within the opening fifty minutes of trade when DGEN was down by 9.0 per cent or 660 points.
BBN/SI/AD-19Jan11-12:11 am (BST)
