The Financial Express

Merchant banks, portfolio managers asked to invest 10pc of investable funds

| Updated: August 05, 2022 10:03:06

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Merchant bankers have assured of taking necessary steps to inspire portfolio managers and their clients to help stabilise the market injecting their investable funds.

The assurance came from Bangladesh Merchant Bankers Association (BMBA) on Tuesday at a meeting held with top officials of Bangladesh Securities and Exchange Commission (BSEC).

At the meeting, it was discussed that some merchant banks and portfolio managers who earlier created sale pressure have investable funds.

"A decision of urging those merchant banks and portfolios managers to invest at least 10 per cent of those funds was taken at the meeting," said a senior BSEC official.

The BSEC commissioner Dr Shaikh Shamsuddin Ahmed chaired the meeting attended by BMBA president Md. Sayadur Rahman and BSEC executive director Mohammad Rezaul Karim, among others.

The BSEC held the meeting as part of its move to interact with the stakeholders to stabilise the country's stock market.

At the meeting, the BMBA representatives assured of their all-out support for stabilising the stock market.

The BSEC official said the merchant bankers spoke about 'inactive' funds of many investors who earlier offloaded securities.

"Necessary initiatives will have to be taken to inspire those investors to inject funds in the market."

The participants told the meeting that many big clients of merchant bankers have inactive accounts.

"Necessary steps will have to be taken for inspiring those clients to make fresh investments in the market," said the BSEC official.

The BMBA representatives have also assured of taking necessary steps to increase the number of institutional investors.

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