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The Board of Directors of the Dhaka Stock Exchange (DSE), the country’s main stock exchange, has made a political decision to start trading on the stock market. If the situation is not abnormal in the Corona virus, commercial activities in the stock market will begin from May 10. It will start subject to the consent of the Bangladesh Securities and Exchange Commission (BSEC).
The decision was made at an informal DSE board meeting held online on Thursday.
DSE Director Minhaj Mannan Emon said the stock market is the main source of income for millions of people. However, due to the corona virus, the market has been closed since March 26, along with the general holiday. This is especially true for brokerage houses and small investors. These companies have no income since the transaction is closed. But officials and employees have to pay the salary allowance. And small investors are suffering from the financial crisis. Furthermore, mistrust is building among foreign investors as transactions close. So an informal DSE board meeting was held Thursday to launch the transaction.
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The DSE director said the advantages and disadvantages of initiating transactions were highlighted at the meeting. He said that DSE management presented a report on the launch of the transaction. Above all, a political decision has been made to start the transaction from May 10. Although the public holiday has increased in Corona virus, the transaction will start the same day. However, if an abnormal situation is created due to the corona virus, it will not be possible to start the transaction. Therefore, considering the general situation, management has been asked to prepare another report. In particular, you have been asked to highlight the possibility of starting transactions with a short banking hours, health risks, CDBL capacity, stock market capacity, etc. In addition, the importance of BSEC compliance has been called for.
An independent DSE director said management was tasked with preparing a report on the launch of the transaction at a board meeting convened by DSE a week ago. They present that report today. In light of which, despite the increase in public holidays in the future, a political decision has been made to start the transactions from May 10. However, in this case the consent of BSEC will be required. Therefore, it was decided to apply to BSEC.
Ittefaq / UB
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