Finance Adviser Salehuddin Ahmed said market players and regulators are responsible for the ongoing unrest in the country's capital market, not the investors.
He said: "The unrest is not caused by investors; rather by those involved in the market and its regulation."
The adviser made this statement at the unveiling ceremony of the sixth edition of 'Banking Almanac', a research book based on information on banks and financial institutions in Bangladesh, at the CIRDAP International Conference Center on Saturday (December 21).
The event was chaired by Dr. Hossain Zillur Rahman, Acting Chairman of the Board of Editors of Banking Almanac, former advisor to the caretaker government, and a renowned economist.
Special guests included Finance Secretary Dr. Md. Khairuzzaman Majumder, Deputy Governor of Bangladesh Bank Nurun Nahar, and Chairman of Bangladesh Association of Banks (BAB) and Dhaka Bank Abdul Hai Sarkar.
The book's Executive Editor Syed Ziauddin Ahmed delivered the welcome speech, while Mohammad Nurul Amin, former Chairman of the Association of Bankers Bangladesh (ABB) and Chairman of Global Islami Bank, and a respected member of the Banking Almanac Board of Editors, also spoke.
Abdar Rahman, Project Director of the Almanac, presented a special article highlighting the importance of the Banking Almanac in providing public information on the diversity of banking services in the country.
Financial Advisor Dr. Salehuddin Ahmed said that the Bangladesh Bureau of Statistics (BBS) has been instructed to publish accurate information without any manipulation.
He said that the situation in the capital market is similar to that of the banking and financial sectors.
He criticized the trend of blaming the chairman when share prices fall, pointing out that some investors are purchasing worthless "Z category" shares, which will soon be discarded as waste paper.
Dr. Ahmed underscored the need for accurate data and information for proper evaluation as foreign investors face numerous challenges due to data gaps over the last 15 years.
He reiterated that the government’s goal is not to assert power but to take responsibility and address the lapses in information over the past years.
Efforts are underway to implement reforms and create a national single window, allowing traders to access all necessary information in one place, eliminating the need to visit multiple sources, the adviser added.
BDST: 1657 HRS, DEC 21, 2024
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