Ms. Vasiliki Lazarakou, Chair of the Hellenic Capital Market Commission (HCMC) and member of the IOSCO Board, along with Professor Mr. Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC) and member of the IOSCO Board and Vice-Chair of Asia-Pacific Regional Committee (APRC) , have signed a bilateral Memorandum of Understanding (MoU) in Bangkok, Thailand.
This agreement between their respective supervisory authorities aims to enhance cooperation, facilitate the exchange of confidential information, and provide mutual assistance in capital market matters. By establishing direct and effective communication channels, both regulators seek to strengthen oversight of investors and companies within their financial sectors.
During the signing ceremony, Ms. Vasiliki Lazarakou, Chair of the HCMC, delivered a concise presentation on the Greek capital market, emphasizing the importance of cooperation between regulatory authorities. Recognizing the global nature of markets and their interconnectedness, she highlighted that the bilateral MoU not only strengthens collaboration but also enables the exchange of experiences and expertise in areas such as legislative frameworks and supervisory practices.
Professor Shibli Rubayat-Ul-Islam, Chairman of the BSEC, acknowledged the strong relations between Greece and Bangladesh and expressed his belief that this MoU will elevate their partnership to new heights. He highlighted the significance of increased mutual cooperation between the two regulators, which will facilitate the exchange of information and experiences, ultimately bolstering capacity-building efforts.
BSEC Chief Encourages Capital Market Investment Ahead of National Election
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has called on investors to consider increasing their participation in the capital market in anticipation of the economic upswing following the forthcoming national election.
Expressing confidence in the current political stability, he noted that this is an opportune time for savvy investors to bolster their capital market portfolios. The Chairman emphasized his optimism for a revitalized capital market post-election and pledged to ensure that vested interests do not disrupt market dynamics.
Despite global economic fluctuations due to the COVID-19 pandemic and the Russia-Ukraine conflict, Bangladesh’s capital market has remained relatively stable. Rubayat-Ul-Islam also reassured investors that the BSEC is working diligently to protect their interests amid challenging times.
In response to concerns about the country’s foreign currency reserves, Chairman Rubayat-Ul-Islam highlighted the strategic allocation of foreign currency toward industrialization and infrastructure development. He emphasized that this allocation would yield substantial benefits for Bangladesh in the near future. The BSEC’s unwavering commitment to regulatory enforcement has contributed to bolstering investor confidence. The Commission’s legal, monitoring, and surveillance units remain vigilant, making it increasingly difficult for any malicious actors to engage in market misconduct.
Furthermore, Bangladesh has gained recognition as an attractive global investment destination, with numerous research organizations publishing positive reports on the nation’s economic development. This reputation has piqued the interest of investors worldwide.
US Stock Indices Display Volatile Week
The S&P 500 and NASDAQ experienced weekly drops of approximately 3% to 4%, marking their third consecutive week of declines. These losses were primarily triggered by significant downturns during Wednesday afternoon and Thursday, following the latest U.S. Federal Reserve meeting.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent gain of 8 points, reaching a closing value of 13,219 points by the end of the week. Similarly, the S&P 500 index showed a negative trend, losing 32 points to settle at 4,288 points. Meanwhile, DJIA Index experienced a notable shed, diving by 456 points during the week and concluding at 33,507 points after a week of lose.
In contrast, Russell 3000 Index saw a loss in week performance, with a loss of 13 points to reach 2,462 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 9 points, ending the week at a steady 1,785 points.
European Stock Markets Witness Weekly Decline
In the Outgoing week, the European stocks market displayed a negative performance.
Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a loss of 3.04 points to close at 450.22.
The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 75 points or finishing the session at 7,608.
In Germany, the DAX 30 index, dropped by 171 points to reach 15,386, while France’s CAC 40 decreased by 49 points to stop at 7,135 at the end of the trading day.
Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, losing 332 points to 28,243. However, Spain’s IBEX 35, dived by 74 points, to close at 9,428.
- BSEC Chief Encourages Capital Market Investment Ahead of National Election
- US Stock Indices Display Volatile Week
- European Stock Markets Witness Weekly Decline
- Weekly South Asian Stock Markets Shows Varied Performance
- Negative Trend reports on Weekly DSE
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