3-4 months: Funds worth Tk 22,000 crore coming to capital market

Sunbd Desk || Published: 2021-02-25 11:57:46 || Updated: 2021-02-25 11:57:46

The capital market stabilization fund is being created with the unallocated dividends of the listed companies and the unclaimed money held by the investors. The regulatory body Bangladesh Securities and Exchange Commission (BSEC) released the draft of the fund on February 22. The commission will finalize it after verifying the public opinion. The commission thinks it is possible to form this fund in the next three to four months.

According to commission sources, initially the size of the fund will be Tk 22,000 crore. Of this, various companies have about Tk 1,600 crore in cash. The rest is in right or bonus shares. However, the information about the amount of unclaimed money in brokerage houses and merchant banks did not reach BSEC. All in all, BSEC is hopeful of supporting the capital market by forming a fund in the next three to four months.

Mahbub H Majumder, chief executive officer of AFC Capital, told Sunbd that the new commission has been working to boost investor confidence since taking office. The reason for the positive decision is the capital market. Investors have started dreaming new.

Sunbd/NJ

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