Merchant bankers seek Tk 60b fund

Dhaka,  Monday,   2016-09-20
Published : 20 Sep 2016, 21:40:51

Merchant bankers seek Tk 60b fund

Liquidity shortage in equity market
FE Report


Leaders of the Bangladesh Merchant Bankers Association (BMBA) on Tuesday requested the government to create a special fund of Tk 60 billion to help mitigate fund shortage in the bourses.

They made the demand at a meeting with finance minister AMA Muhith at his secretariat office. BMBA president Sayadur Rahman led the delegation.

Mr Rahman said the market is now suffering from liquidity shortage.

"We were in apprehension of negative consequence of adjustment of over-exposure of banks in the capital market in July last. But nothing bad happened and the market is quite stable now," Mr Rahman said and added, "At this stage, we have sought fund from the minister to bring pace in the market."

Asked about the minister's response over their proposal, he said, "The minister told us that he will discuss the issue with the Securities and Exchange Commission and others concerned before taking a decision."

"We have placed our proposal considering the present market situation. Now the government will decide in which form the fund can be given," he said.  

Earlier, the government had allocated Tk 9.0 billion to help the small investors recover from the shock they experienced during the 2010-11 stock market scam.

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