FE Report

The FBCCI President Kazi Akram Uddin Ahmed expressed his hope that the country's stock markets would face a positive impact of the ‘sincere move’ jointly taken by the stakeholders, officials said.

His optimism comes after a scheduled meeting with the key stakeholders held Monday at the office of the Dhaka Stock Exchange (DSE) to find out possible solutions to problems facing the stock markets.

The DSE, however, will arrange a press briefing at its office today (Tuesday) to speak about the decisions taken at Monday's meeting, chaired by the FBCCI president.

The representatives of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Bangladesh Association of Publicly Listed Companies (BAPLC), Bangladesh Association of Banks (BAB), Association of Bankers, Bangladesh (ABB) and Bangladesh Insurance Association (BIA) attended the meeting.

"The country's all economic indicators, other than the stock market, are well and good. That's why we have moved jointly to create an environment of fair investment in the stock markets," Mr. Akram told the FE.

He said a committee, headed by him, has been formed to work for stabilising the markets.

"The committee will maintain communication with other higher authorities. They will also sit time to time to fix the next course of actions to stabilise the markets," he said.

He said the small investors will get back their confidence if the stakeholders work jointly.

"We have urged the representatives of different banks to support the market by injecting funds from their level best. The confidence will be restored in the market if all stakeholders work with ethics," Akram added.

The DSE President Rakibur Rahman said the stakeholders themselves will have to work to over come the crisis of the market.

"The problem is ours. So, we will have to work to over come the crisis prevailing in the market," Rahman said.

He said that they do not want to create any false hope regarding the restoration of the market.