A platform of top bank executives have told
the SEC the banks are continuing
to invest in the market.
"Top executives of 30 banks have told the SEC that the market is now suitable for investment and assured them that the banks have good and utmost intention to invest," Association of Bankers, Bangladesh (ABB) president K Mahmud Sattar told journalists after a meeting with the capital market regulators on Wednesday.
"We are investing daily in the capital market despite suffering from liquidity crisis and stopped selling shares now we are only buying," Sattar, also the CEO of City Bank, added.
The ABB chief continued that they had also put forward some suggestions in fornt of the market regulators to effect further increase in bank investments.
"Every bank is suffering from liquidity crisis and banks are operating by borrowing money from the call money market. So they cannot make big investments even if they want to do so."
"So we have suggested that the SEC take steps to persuade the Bangladesh Bank to lower Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) and address this problem."
He added that the market regulators have been urged to take steps so that the National Board of Revenue provides loan benefit to the banks as early as possibel.
Highlighting the need for foreign investment in the stock market, the ABB chief said more, "This will bring fresh funds into the market. Every bank has some links. If the SEC and the central bank assure us, we can move for that soon."
The SEC had earlier sat with the ABB in the wake of plummeting market and the ABB promised to increase bank investments on ward. The Bangladesh Bank also took initiatives to increase bank investments in the market to stop free fall.
But the plummeting market still did not stabilise and the DSE general index fell by 12,000 points and returned to a stage the market was three years back.
Finally the group of small investor are waiting for the good steps of the institutional investor to stable the market and overcome the crisis.
"Top executives of 30 banks have told the SEC that the market is now suitable for investment and assured them that the banks have good and utmost intention to invest," Association of Bankers, Bangladesh (ABB) president K Mahmud Sattar told journalists after a meeting with the capital market regulators on Wednesday.
"We are investing daily in the capital market despite suffering from liquidity crisis and stopped selling shares now we are only buying," Sattar, also the CEO of City Bank, added.
The ABB chief continued that they had also put forward some suggestions in fornt of the market regulators to effect further increase in bank investments.
"Every bank is suffering from liquidity crisis and banks are operating by borrowing money from the call money market. So they cannot make big investments even if they want to do so."
"So we have suggested that the SEC take steps to persuade the Bangladesh Bank to lower Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) and address this problem."
He added that the market regulators have been urged to take steps so that the National Board of Revenue provides loan benefit to the banks as early as possibel.
Highlighting the need for foreign investment in the stock market, the ABB chief said more, "This will bring fresh funds into the market. Every bank has some links. If the SEC and the central bank assure us, we can move for that soon."
The SEC had earlier sat with the ABB in the wake of plummeting market and the ABB promised to increase bank investments on ward. The Bangladesh Bank also took initiatives to increase bank investments in the market to stop free fall.
But the plummeting market still did not stabilise and the DSE general index fell by 12,000 points and returned to a stage the market was three years back.
Finally the group of small investor are waiting for the good steps of the institutional investor to stable the market and overcome the crisis.
