Stocks
BSEC Chief Advocates Capital Market as Prime Sector for Large-Scale Financing
In a recent seminar organized by the Bangladesh Securities and Exchange Commission (BSEC), Chairman Professor Shibli Rubayat-Ul-Islam highlighted the significance of Purbachal in economic activities, stating it as the most suitable area for large-scale financial endeavours. Emphasizing the collaborative effort required for successful projects in the field of Blue Economies, he urged businesses to actively engage with BSEC’s environmentally sustainable projects. Additionally, he urged everyone to consider the responsible use of marine resources to contribute to GDP and encouraged the adoption of blue and green bonds.
On Friday, February 2nd, Professor Shibli Rubayat-Ul-Islam delivered these remarks as the keynote speaker at the seminar titled “Blue Economy: Funding Prospects and Capital Markets” organized by the Bangladesh Oceanographic Research Institute in Cox’s Bazar. The event commenced at 11 AM at the institute’s campus.
Dr. Towhida Rashid, the Director-General of the Bangladesh Oceanographic Research Institute, presided over the event. Among the distinguished guests were Dr. Sheikh Shamsuddin Ahmed, Commissioner of BSEC, and Executive Director Mohammad Rezaul Karim.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam draws inspiration from Singapore’s example, asserting that foreign investors and businesses are keenly interested in investing in Bangladesh’s Blue Economy. Foreign companies express interest in participating in the country’s shipbuilding industry. He emphasizes the need for research on how to harness marine resources and capitalize on the possibilities within. Professor Shibli encourages the exploration of opportunities amid the abundance of resources and their practical utilization.
Highlighting Bangladesh as a potentially prosperous nation in the Blue Economics domain, he commends Prime Minister Sheikh Hasina’s visionary leadership that has enabled the country to possess a vast maritime area covering two-thirds of its land. Blue Economy, with its focus on private accounts and the Chittagong Stock Exchange as a financial hub, is gaining global significance. Professor Shibli envisions reduced government dependency and increased opportunities for private financing if innovative ideas can be effectively implemented. Purbachal is identified as the most suitable area for large-scale economic activities, and he urges businesses to collaborate with BSEC in environmentally sustainable projects to facilitate successful ventures.
In a seminar, BSEC Commissioner Dr. Sheikh Shamsuddin Ahmed expressed that political instability is often considered a significant hindrance to the development of Blue Economics in many countries. However, he noted that in Bangladesh, the government is committed to fostering Blue Economics development. To prioritize Blue Economics development and financing, it is essential to involve the private sector, as relying solely on the government may limit the potential of this sector.
Dr. Sheikh Shamsuddin Ahmed highlighted that nearly 20 ministries are currently involved in the development of the Blue Economy in Bangladesh. To expedite progress, coordination among all stakeholders is crucial. While the country has made advancements in policy and legal measures, the practical implementation of these policies needs acceleration. He emphasized the need for a comprehensive approach beyond revenue-centric activities to effectively utilize the production potential of the Blue Economy.
Furthermore, the Commissioner mentioned that BSEC is working in collaboration with the IFSC for the formulation of guidelines for green bonds in Bangladesh.
In the seminar, Dr. Towhida Rashid, the Director-General of the Bangladesh Oceanographic Research Institute, presented “Bangladesh’s Blue Economics Potential and Government Plans for Blue Economics Development.” The presentation covered various aspects, including the global and national scenarios of Blue Economics, economic values in Bangladesh, potential areas, and the role of the government’s national plans and initiatives.
The event also featured a primary article presentation titled “Blue Economy: Funding Prospects and Capital Markets” by Mohammad Rezaul Karim, the Executive Director of BSEC. He provided insights into the global and Bangladesh-specific perspectives of Blue Economics, emphasizing the need to harness the potential of Purbachal for large-scale economic activities.
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
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
