Dhaka, Bangladesh (BBN)- International Organization of Securities Commissions (IOSCO) has given reception to the Bangladesh Securities and Exchange Commission (BSEC) as it has been promoted to A-Category membership of the IOSCO, said a statement.
According to a BSEC statement, the BSEC was given a formal reception at annual convention of the IOSCO held at Rio De Janerio, a commercial capital of Brazil, held within the timeframe of September 28 to October 2 last.
The BSEC Chairman Prof M Khairul Hossain and BSEC Commissioner Arif Khan represented the securities regulator at the convention of the IOSCO.
“At the convention, the BSEC was given a formal reception as it was promoted to A-Category membership of IOSCO from B-category on December 22, 2013,” the BSEC statement said.
The BSEC chairman was also given the ‘original certificate’ of ‘A’ category membership in presence of IOSCO members and executives, the statement said.
The BSEC Executive Director Mohammad Saifur Rahman said the chairman of the securities regulator signed a Memorandum of Understanding (MoU) with IOSCO for adopting international standards in bringing amendemnts to securities rules.
“The IOSCO status of a regulator of capital market is taken into account by international investors while taking their investment decisions. So, the outcome of securing A category by the BSEC will be visible in future,” Rahman said.
“The Bangladesh Government and the BSEC were given thanks by the IOSCO as the securities regulator has been promted to A category rapidly by bringing necsessary changes in rules and regulations,” the BSEC said.
At the convention it was expected that the investment organisations of other countries would be interested to the capital market of Bangladesh following the promotion of the securities regulator.
BBN/SSR/BB-12Oct14-11:40 pm (BST)
