Express (August 08, 2011)
The securities regulator will sit today (Monday) with the leaders of Bangladesh Merchant Bankers Association (BMBA) and the chief executives of merchant banks to discuss the current market situation, officials said.
The move comes after the unrest in stock market, which led to demonstrations by angry investors over the sharp declining trend of DSE general index (DGEN).
"The Securities and Exchange Commission (SEC) called the meeting with the merchant bankers to talk about the present situation of the share market," an SEC official told the FE.
He said the regulator will ask the merchant bankers to discuss the factors behind the continuous fall of the market.
"At the same time, the SEC will seek suggestions from the bankers to stabilise the market," he added.
On Sunday, the president of Chittagong Stock Exchange (CSE) urged the investors at a press briefing in Dhaka to be prudent and calculative about their investment.
"They should not be panicked following the rumours spread by vested quarters," CSE president Fakhor Uddin Ali Ahmed said.
He said there are many good fundamental shares in the market for long-term investments.
"So, the investors need much thinking for safeguarding their investment," the CSE president said.
Asked about the SEC's initiative to file cases against some big investors who were allegedly responsible for the recent stock market debacle, the CSE president stressed on the need for establishment of rule of law.
"The rule of law will never be established if there is no provision for punishing the persons responsible for the share market scam," the CSE president said.
He also said the regulator must be careful so that no innocent person is punished.
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