Staff Correspondent:

Former Commerce Minister and BNP leader Amir Khosru Mahmud Chowdhury on Monday said the capital market will only gain the trust of all stakeholders if the government refrains from excessively sourcing capital directly from it.

Speaking at a workshop titled ‘Capital Market Reconstruction and Reality’, organised by the Economic Reporters’ Forum (ERF) at its auditorium in Paltan, he said the growth of the capital market goes beyond the mere introduction of a few good companies for Initial Public Offerings (IPOs).

Khosru warned that over-regulation by the relevant bodies, without strong self-regulation mechanisms, is hampering the institutional capacity of the market.

He emphasised the need for the ‘democratisation’ of Bangladesh’s economy to ensure proper growth.

The BNP leader said both domestic and foreign investors are eagerly awaiting opportunities to invest in Bangladesh’s growing economy.

In response to a question, the BNP leader said no major reforms would take place unless the country’s political culture is fundamentally changed.

He also reaffirmed BNP’s commitment to capital market investment, saying, “If we are voted to power, I give you a commitment to make the economy and the capital market stronger.”

Mominul Islam, Chairman of the Dhaka Stock Exchange (DSE); AKM Habibur Rahman, Chairman of the Chittagong Stock Exchange (CSE); and the President of the DSE Brokers Association of Bangladesh (DBA) also spoke at the event.