Capital market must be utilised to become developed country: Tipu Munshi

Commerce Minister Tipu Munshi said on Thursday that the capital market should be better utilised to achieve the goals of a developed country.

"At least 50% of investment demand should be met from the capital market. If this can be done, the business of the country will definitely improve," he said at the opening ceremony of "Arthosuchak Capital Market Expo 2023" at the IDEB Bhaban in the capital's Kakrail.

Tipu Munshi stated that the capital market's share of the financing industry and trade is currently very low. The banking sector is providing a major portion of investment.

But many problems arise as banks finance long-term loans with short-term deposits. This financing should be diverted to the capital market, he added.

Professor Shibli Rubayat-Ul-Islam, chairman of the Bangladesh Securities and Exchange Commission (BSEC), said that investment education is very important. Without education on investment, there is potential for incurring losses in any sector.

"By introducing new products in our equity market, we are trying to make it a fully-fledged capital market. Educated investors will benefit if they invest here," he added.

"We are harassed and insulted in various ways by spreading rumours and false information on social media. They are hindering us. Still we are working," said the BSEC chairman.

Dhaka Stock Exchange Chairman Md Eunusur Rahman, Chittagong Stock Exchange Chairman Asif Ibrahim, Bangladesh Association of Publicly Listed Companies President M Anis Ud Dowla, and Bangladesh Merchant Bankers Association President Richard D' Rosario, among others, spoke at the opening ceremony.

Ziaur Rahman, editor of the online news portal Arthosuchak, presided over the inauguration function of the expo. 

The expo will remain open daily from 10am to 8pm. The fair will continue till 7 January. No ticket is required to enter the fair. There will be prizes in the raffle draw from the entry coupons.