JCI North organized a seminar titled “Development Opportunities in Emerging Economies and Roadmap for Scholarship and Funding” on 25 May 2024 at the EMK Center, Gulshan, Dhaka. The event featured Dr. Laura E. Kodres, former IMF Assistant Director and Associate at the Global Center for Finance and Policy, as the main presenter.
The seminar also included insights from several distinguished discussants: Prof. Dr. Abdul Hannan Chowdhury, former dean of the School of Business and Economics (SBE) at North South University (NSU); Ifty Islam, Chairman of Asian Tiger Capital Partners; M. Shaifur Rahman Mazumdar, FCA, FCMA, Managing Director of Chittagong Stock Exchange PLC (CSE); M.S. Siddiqui, Chief Executive Officer of Bangla Chemicals and Legal Economist; and Md. Nazmul Hasan, Associate Professor at the University of Dhaka. Md. Minhaz Bin Salim, a member of the Board of Directors of JCI Dhaka North, moderated the event.
Dr. Kodres highlighted the crucial role of central banks in maintaining investor trust through prudent monetary policies. She emphasized that central banks ensure financial stability by overseeing commercial banks, safeguarding depositors’ funds, and facilitating productive lending. In a globalized world, the central bank’s mandate extends to maintaining the value of money, thus fostering financial stability when depositors receive their funds back with interest. She also touched on topics such as inflation, infrastructure, stock markets, and the private sector, noting the high potential in emerging economies if opportunities are understood and utilized effectively.
Prof. Dr. Abdul Hannan Chowdhury stressed the importance of creating a supportive environment for entrepreneurs, stating, “The country has yet to create an atmosphere where entrepreneurs can easily start their businesses. Ease of doing business is crucial for Bangladesh to support entrepreneurs.”
Ifty Islam discussed the potential of financial technology to attract more investors with diverse products at low costs, leading to significant returns. He envisioned a future where digital wallets could transform ordinary citizens into active investors in the stock market, thus increasing the number of trading accounts.
M. Shaifur Rahman Mazumdar emphasized the need for comprehensive policy support in the capital market. He pointed out that policymakers need to address tax GDP issues and provide targeted policies for sectoral development, specifically in the capital market, to ensure robust regulatory structures.
M.S. Siddiqui addressed market manipulation issues, noting that many companies fail to pay dividends, which manipulators exploit. He highlighted the need for regulatory vigilance to prevent sudden, unjustified increases in share prices. He also critiqued the regressive policies affecting the SME sector despite its potential.
The seminar also featured a panel discussion moderated by Md. Minhaz Bin Salim, who presented a brief on the “Roadmap of Scholarship and Funding” to the guests. Experts underscored the impact of technology on Bangladesh’s financial sector, noting that proper technology use could enhance customer trust and increase investments.
The event attracted participants from reputed universities and organizations, with over 100 attendees joining via Zoom and in person. The seminar aimed to impart expert knowledge to newcomers, shaping the next generation of economic experts. The program concluded with a vote of thanks from JCI National President Imran Kadir.
