FE Report (January 24, 2011)
Leaders of bourses Sunday proposed to investigate "suspicious" balance sheets of publicly listed companies and bring their financial statements of publicly under transparency.
The suggestion came at a meeting with the Finance Minister AMA Muhith at the state guesthouse-Padma, where all key market stakeholders were present.
The discussants also came down heavily on the book building method, saying some companies yanked huge money illegally out of the stock market through this method.
Merchant bankers proposed to introduce a guideline so that they can preserve at least 20 per cent of their total profits in the stock market.
Bangladesh Association of Publicly Listed Companies President Salman F Rahman suggested introducing a law to allow buy-back system so that the listed companies could buy their own shares.
At the meeting, Prime Minister's advisers Mashiur Rahman and HT Imam, former advisor of caretaker government Manzur Elahi, Bangladesh Bank Governor Dr. Atiur Rahman, Deputy Governor Ziaul Hasan Siddiqui, SEC Chairman Ziaul Haque Khondker, SEC member Muhammad Yasin Ali, former SEC Chairman Faruq Ahmed Siddiqi, DSE President Shakil Rizvi, CSE Vice-president Al-Maruf Khan, merchant bankers' association president Sheikh Motuza Ahmed were present.
Leaders of bourses Sunday proposed to investigate "suspicious" balance sheets of publicly listed companies and bring their financial statements of publicly under transparency.
The suggestion came at a meeting with the Finance Minister AMA Muhith at the state guesthouse-Padma, where all key market stakeholders were present.
The discussants also came down heavily on the book building method, saying some companies yanked huge money illegally out of the stock market through this method.
Merchant bankers proposed to introduce a guideline so that they can preserve at least 20 per cent of their total profits in the stock market.
Bangladesh Association of Publicly Listed Companies President Salman F Rahman suggested introducing a law to allow buy-back system so that the listed companies could buy their own shares.
At the meeting, Prime Minister's advisers Mashiur Rahman and HT Imam, former advisor of caretaker government Manzur Elahi, Bangladesh Bank Governor Dr. Atiur Rahman, Deputy Governor Ziaul Hasan Siddiqui, SEC Chairman Ziaul Haque Khondker, SEC member Muhammad Yasin Ali, former SEC Chairman Faruq Ahmed Siddiqi, DSE President Shakil Rizvi, CSE Vice-president Al-Maruf Khan, merchant bankers' association president Sheikh Motuza Ahmed were present.
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