Press Release

Any Foreign Investment must come through Bangladesh Capital Market

A B Siddique, CEO says at CSE-KAFCO seminar

Chittagong: May 7, 2006: Any foreign investment in the country must share their capital with the general people said Chief Executive Officer of Chittagong Stock Exchange while speaking in a seminar at Karnaphuli Fertilizer Company Ltd. organized for the senior officials.

While saying as example, he said Tata’s new proposal raising 10% capital from Bangladesh Capital Market is a good sign for our capital market, we should make it as a mandatory provision while any sort of investment coming from foreign investors.

In the question & answer session one investor said, SEC should change the present IPO lottery system.

Mr. A B Siddique, Chief Executive Officer of Chittagong Stock Exchange is participating question and answer sessions at CSE-KAFCO seminar

Successful applicants are going away from the market after selling their IPO share, this is causing a great effect drainage fund from the market, he added.

Another investor said, Bangladesh Bank should induce Commercial Banks to facilitate electronic fund transfer to the customer so that any investor who buy or sell shares within home or from abroad can settle their fund position smoothly and instantly through CSE’ Internet Trading Service

Another investor urged that, Companies who earned significant profit are reluctant to declare satisfactory dividend to the shareholder, but government is taking corporate tax out of profit by imposing tax law. He questioned, why there should be no law for the general shareholders who invested their hard earn money to that particular profit making company and are not getting same rate of dividend from that particular company as same as government earned as tax.

Another investor opined that SEC should allow Depository Participant Registration Certificate to only financial Institutions who are capable to take risk if any unwanted situation happened in the customer clearing account, but he said many of the institutions got registration certificate who are not capable with that situation.

Mr. AKM Shahroze Alam, Deputy Manager made presentation on the topic while Mr. AB Siddique CEO, Mr. Atiquzzaman Head of Market Operation are participated in the question and answer sessions.

Mr. Mujib A Siddiqui, Head of Traning KAFCO made welcome address, Mr. Fazle Rubby, Chief Operations Officer addressed the participants as Chief Guest and Dr. Kabir Ahmed, General Manager-Human Resources & Traning made vote of thanks.

 

________________
AKM Shahroze Alam
Deputy Manager
Corporate Development