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Finance Minister calls for making capital market institutional and paperless

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Finance Minister calls for making capital market institutional and paperless
Finance Minister Amir Khosru Mahmud Chowdhury has called for transforming the country's capital market from reliance on retail investors to an institutional and fully paperless system. At the same time, he directed ICB to move away from its traditional course and transform into a market-based, competitive and professional institution.

The Finance Minister said this while speaking as chief guest at the golden jubilee and founding anniversary ceremony of the Investment Corporation of Bangladesh (ICB) on Thursday.

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He said the world's capital markets are mainly institutional investor-dependent. ICB will have to play an important role in establishing Bangladesh's market on an institutional foundation.

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The Finance Minister said work is underway for 100% automation and digitization at every level of the capital market. All operations, including listing applications, approvals and decision-making, must be completed online. He also said appointments are being made to important posts in the financial sector without political considerations.

Mentioning international investors' interest in Bangladesh's capital market and economic reforms, Amir Khosru said an environment is being created to bring global capital through private funds, climate funding and derivatives.

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The Finance Minister expressed hope that ICB will become a modern, efficient and international-standard institution through its experience and internal restructuring.

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