Stocks
Developed Nations Eyes Bangladesh for Investment Amidst Economic Potential
Bangladesh is being recognized as an attractive destination for investments, as stated by Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC). He made this announcement during his keynote speech at a seminar titled “Capital Market for Sustainable Finance,” organized by the Bangladesh Merchant Bankers Association and held at the Commerce Building of Dhaka University on Thursday, October 5. The seminar’s chief guest was Dr. Hasan Mahmud, the Minister of Information.
Professor Shibli Rubayat-Ul-Islam emphasized that Bangladesh holds a significant geopolitical position and has made remarkable progress in terms of GDP growth, which has garnered global interest. He highlighted the shift in perception towards Bangladesh, indicating that it has become an attractive destination for international partners and investors.
Professor Shibli Rubayat-Ul-Islam has projected that Bangladesh is on the cusp of an economic renaissance in the coming five years. He made this optimistic statement despite the recent economic challenges posed by the COVID-19 pandemic and the conflict between Ukraine and Russia. These factors have contributed to a sluggish pace of economic growth. Professor Shibli Rubayat-Ul-Islam acknowledged the current tension in the run-up to elections but emphasized that the nation is poised for a bright economic future.
He elaborated on the situation, stating that Bangladesh is facing a labor crisis in the garment industry, with 42% of the workforce reduced in a country of 17 crore people. Furthermore, there is a shortage of laborers for rice harvesting. However, despite these challenges, he expressed confidence that Bangladesh is on the brink of a significant economic upturn.
Professor Shibli Rubayat-Ul-Islam emphasized the importance of investment and urged individuals to be attentive to investment opportunities during these promising times.
In a recent statement, the head of the Securities and Exchange Commission of Bangladesh emphasized the country’s impeccable track record in repaying loans, highlighting that Bangladesh has never failed to meet its debt obligations. Looking ahead, the nation’s objectives include the Sustainable Development Goals (SDGs), the Vision 2041 plan, and the Delta Plan. Achieving these goals, however, necessitates a staggering $965 billion in funding, a sum that cannot be solely generated from domestic resources.
To bridge this substantial financial gap, cooperation between the money market and capital market is imperative. While domestic investments are expected to contribute around $450 billion, the remaining funds must be attracted from foreign sources.
The Chairman of the Securities and Exchange Commission stated that Bangladesh’s business and trade sectors have been performing well in recent years, offering attractive returns on investments. He urged domestic investors to seize investment opportunities during the Investment Week, with a desire for more local investments. Additionally, he encouraged foreign investors to learn more about Bangladesh, as investing in the country can yield favorable returns.
Professor Shibli Rubayat-Ul-Islam also highlighted the significant potential of the African market, with its population of over one billion people and vast agricultural lands. African entrepreneurs expressed interest in collaborating with Bangladesh in the agro-based industry. He mentioned that Bangladesh’s development model serves as a role model for them. Thus, opportunities for trade and investment between Bangladesh and Africa are expected to grow.
Regarding capital raising, he mentioned that Bangladesh has been working on issuing Green Bonds, Blue Bonds, and Islamic Sukuk Bonds to facilitate capital raising in business and trade. These bonds have already attracted billions of Taka in investment, and their popularity is expected to rise in the future.
Major General Mohammad Quamruzzaman (retd) has stepped down from his role as an independent director of the board of the Dhaka Stock Exchange, citing personal reasons.
He also served as a member of the DSE’s Nomination and Remuneration Committee (NRC).
Quamruzzaman was appointed to the DSE board on 1 September 2024, following the fall of the Awami League-led government. After serving for nearly one year and nine months, he submitted his resignation on Saturday (24 May).
Speaking to Quamruzzaman confirmed his resignation, saying, “Yes, I have resigned as an independent director for personal reasons.”
Md Shafiqur Rahman, Deputy General Manager of Public Relations and Publications at the DSE, said Quamruzzaman submitted a resignation letter mentioning personal reasons behind his decision.
“The DSE board will now take a decision regarding the resignation,” Shafiqur Rahman said.
He also indicated that Quamruzzaman may be planning to join another company, which could have influenced his decision to resign.
Earlier, another independent director of the DSE board, Shahnaz Sultana, also resigned from her position. She was likewise a member of the NRC.
According to the DSE annual report, Shahnaz Sultana is the CEO and Chief Consultant of FINS Alliance Risk Advisory and Consultancy and has served as the Founder and Chairperson of the WE Global Women Foundation since 2020.
The Bangladesh Securities and Exchange Commission (BSEC) has today approved appointment of Ms. Nuzhat Anwar as the new Managing Director of Dhaka Stock Exchange PLC. (DSE).
Ms. Nuzhat Anwar brings over two decades of experience in financial markets, banking, and development finance. Prior to her appointment, she worked at the International Finance Corporation (IFC), the private sector arm of the World Bank Group, where she held multiple senior leadership roles across Africa and South Asia. Her positions included Resident Representative for Liberia and Sierra Leone, Senior Country Officer for Bangladesh covering Bangladesh, Bhutan, and Nepal, and acting Cluster Manager during the COVID-19 pandemic and the subsequent transition period.
Ms. Anwar also served as an IFC Country Officer in Botswana and Namibia, where she played a key role in establishing IFC’s presence in Gaborone and advancing a sustainable investment program, including IFC’s first investment in Botswana. She offers deep expertise in capital management, treasury and liquidity, transaction services, portfolio optimization, and market advocacy. Earlier in her career, she spent 16 years with Citibank Bangladesh and Standard Chartered Bank Bangladesh in various senior management roles.
Ms. Anwar holds a Master’s degree in Commerce (Finance) from the University of Dhaka.
On her appointment as the Managing Director of DSE, the Chairman of the Board of DSE Mr. Mominul Islam said, “We are pleased to receive the approval of BSEC for appointment of Ms. Anwar as the new Managing Director. Over the last one year the NRC and Board of have worked hard to recruit a competent leader as the MD of DSE. We are confident that Ms. Anwar, with her excellent leadership trait, vast experience in the financial sector in home and abroad and deep passion for transformation in the Capital Market of the Country, is the right candidate to lead DSE in the days ahead. Now, we will complete the internal processes to onboard Ms. Anwar at soonest.”
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
