Amir Khosru criticizes govt role in capital market, pledges reforms

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 the bourse.

Speaking at a workshop titled 'Capital Market Reconstruction and Reality', organised by Economic Reporters' Forum (ERF) at its auditorium in Paltan, he said the growth of the capital market goes beyond mere introducing 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 the 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 reaffirmed BNP's commitment to capital reform to better secure 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 Dhaka Stock Exchange (DSE); AKM Habibur Rahman, Chairman of Chittagong Stock Exchange (CSE); and the President of DSE Brokers Association of Bangladesh (DBA) also spoke at the event.