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Janata Bank earmarks Tk 200 cr fund for ailing bourses

Published : Friday, 13 March, 2020 at 12:00 AM  Count : 83
Business Correspondent

Janata Bank has set up a special fund of Tk 200 crore to help the ailing stock market to improve its position by injecting new fund. The decision for the fund came in a board meeting on Tuesday.  
Launching the special fund the bank management in a statement said they have set up the fund to make it available to reassure the investors in the light of a recent government circular official calling for banks' renewed investment in the stocks.
The government earlier had called all banks to set up such fund as part of long term plan to increase the flow of fund in the bourse to stabilize it.   

Janata Bank said it will create the fund by releasing some of the funds scheduled banks mandatorily hold with central bank. The fund will increase the flow of capital in the bourse to increase buying and selling.

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