Dhaka, Bangladesh (BBN) - The Dhaka Stock Exchange (DSE) and Bangladesh-German Chamber of Commerce and Industry (BGCCI) inked a Memorandum of Understanding (MoU) to appoint Makenji, a consultant organization, in a bid to enter onto international share market arena.
DSE president Shakil Rizvi and BGCCI president Saiful Islam signed the memorandum on behalf of their respective organizations Wednesday at the DSE office in the capital.
After the singing ceremony, Mr Saiful Islam, president of Bangladesh-German Chamber of Commerce and Industry said “Now on the DSE will enter into global financial and investment arena from local concept through this deal.”
Mr Islam said earlier in 2010, the government took initiative to establish a special economic zone in the country though it did not come into implementation yet now.
“If the government could build it declared special ‘economic zone’ by June this year, at least 12 German companies will invest in the country which also be listed in the capital market,” he added.
Mr Islam said, to be international standard share market, DSE has to fulfill some criteria and for this purpose DSE management going to appoint Makenji, the world largest consultant institutions.
“The DSE will connect with German Stock Exchange through the credit rating,” Mr Islam said.
However, he said it needs an independent research report which will be done with German assistance.
DSE president Shakil Rizvi said that the DSE will enter into international arena through this deal and it is a great opportunity for us.
“We would take advice on demutualization from Makenji as the organization work for capacity building in the world,” Mr Rizvi added.
BGCCI will also give technical support to the Dhaka Stock Exchange (DSE) to be a world class and modern stock exchanges.
Apart from, BGCCI will help technical assistance to IT sector of DSE, demutualization process; to train officials to established corporate governance and joint publication.
Among other, Daniel Seidl, executive director of BGCCI, DSE senior vice president Ahsanul Islam Titu, Vice president Mohammad Shajahan, director Ahmad Rashid Lali, CEO Mohammad Musharraf Hussain and CFO Shuvro Kanti Chowdhury were also present at the singing ceremony.
BBN/BB/SI-11Jan12-11:25 pm (BST)